Written by It must be nice to be Eugene Robinson—not everyone gets paid to be wrong on a daily basis. By the smile on his face, you almost have to believe he has no clue just how dreadfully detached from economic reality his conclusions are. Take for instance his most recent column, in which he states that both sides are not at fault when it comes to the debt impasse (no need to guess who he blames for the ordeal):
This is patently false. The truth is that Democrats have made clear they are open to a compromise deal on budget cuts and revenue increases. Republicans have made clear they are not…
Progressives understand that Medicare and Social Security are not sustainable on their current trajectories; in the long term, both must have their revenue and costs brought into balance. Pelosi’s position is that each program should be addressed with an eye toward sustainability — not as a part of a last-minute deal for a hike in the debt ceiling that covers us for two or three years…
Meanwhile, though, the clock ticks toward Aug. 2 and the possibility of a catastrophic default becomes more real.
A quick look at history, provided by U.S. Census Bureau, the White House Office of Management and Budget, and Congressional Budget Office shows that it doesn’t matter who’s been at the wheel in Washington, DC for decades—federal spending has continued to skyrocket. Both Democrats and Republicans have been driving us towards the cliff Thelma and Louise style, only one Party slows down briefly from time-to-time to think about the impending disaster (before turning the wheel over to Thelma again).
Eugene notes that “in the long term” our entitlement programs need to be addressed so that costs can be “brought into balance.” Wrong again, Eugene. Revenue rates are generally close to their historical average, while spending as a percentage of GDP has accelerated at a faster clip than talking heads at an opportunity to roll around in partisan cat nip. They need to be addressed now.
In Robinson’s world, there is no difference between a “revenue cut” and a “tax cut.” To Eugene, it’s impossible to have increased revenue through lower taxation and a limited government. The vast majority of his arguments are tethered to a false premise instead of solid economic ground, which is why tax-paying Americans watch them float off into space. Case in point: “The clock is ticking toward Aug. 2 and the possibility of a catastrophic default.” Got that? Unless we mimic the financial malfeasance of Europe we’ll wind up like Europe.
Eugene’s right: don’t blame both sides. Blame guys like him on August 2nd, who spend their time using scare tactics on the public instead of teaching them Basic Economics.
Douglas Ernst Blog 