I disagree with Hightower.

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Thursday, March 14, 2013

Budgetary science

I don't know if you are aware of it or not, but the Democrats are the party of science and rationalism.  The Republicans are the party of creationists and emotion.  This is widely known and needs no evidence.

Obama announced recently that he "Won’t ‘Chase a Balanced Budget Just for the Sake of Balance’".

The implication being, I suppose, that there is no inherent value in balancing a budget. Balancing the budget is just an emotional goal set up by those who do not understand that, if you have good intentions when you spend money that you don't have, then everything will work out in the end.  You can ride the edge of disaster indefinely.

Unless      a)  interest rates go above the current phenomenally low level, or
                b)  there is ever in our future another recession.

Of course the "dismal science" of Economics assures us that both will happen.

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