All deficits are not created equal

Well…the latest rant from the righties is that Bush’s deficits were nowhere near as large or bad as the one’s that have come from the Obama administration. What most people of both right and left fail to realize is what I think is the core distinction between the two: The Bush deficits were done by the choice of his administration to give tax cuts when we were fighting two wars. On the other hand, the Obama deficits are, to some extent, inherited from the Bushies, but mostly are a result of the economics that anyone learns in econ 101: in the midst of a severe recession, one of the best ways to stimulate the economy and help end that recession is for the government to deficit spend. Is the problem that deficit spending will help keep the middle class working? It’s been clear for a long time that the Repubs don’t really care what happens to the middle class…and yet so many of them keep believing the lies they are being fed and keep voting for the same people that gave us Enron, Blackwater, and how many other instances of looting from our society. Geez…

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