January 30, 2013 - 8:12 am
So this is what $312,000,000,000 in deficit spending bought us for Christmas last year — a shrinking economy. What the chart doesn’t include is the additional $120,000,000,000 or so in “stimulus” securities purchased by the Fed.
You’re gonna need a bigger chart.
PS Don’t believe the MSM cheerleading or White House lies that reduced Federal spending is to blame — because spending went up last quarter, not down.
My problem is, everybody seems to use different definitions of the words “spending” and “deficit.” I think Democrats even use a different definition of “money.”
A theory: Maybe the Dems don’t believe the government is in debt because to them the government encompasses the nation and everything in it; nothing is external to the government. The money gets concentrated in one sector or another but it never leaves the government’s control. The government can always get more if it needs it.
I so miss Week In Blogs, but I’ll try to be content with VP’s “Scary Ass Chart of the ___” on Tatler.