The Truth About Deficits

So many lies. So little time. No, I'm not talking about Paul Krugman at The Times. I'm talking about deficits and how they're supposed to be so bad.

They're all lies.

Lie No. 1: They'll lead to higher interest rates. Oh really? Then why are they "right now" the lowest they've been in more than four decades, and we're running big deficits as we speak?

Lie No. 2: The last big deficits destroyed us. Hmm. That's interesting. I think Ronald Reagan was president back then, and if I recall, not only did interest rates stay low, but the economy took off. And the stock market more than tripled, through one deficit year after another.

Lie No. 3: The bigger the deficits, the less government spending. Oh, if that were true. Pity is government has an uncanny way of spending through tight and flush times alike. On average, programs year in and year out, go up at about a 10 percent clip. Please tell me the last time you got a 10 percent raise. So much for government suffering.

Lie No. 4: The deficit this time is the worst ever. Again, a filthy distortion that misses this real fact. As a percentage of GDP, today's deficits represent less than a third what they were two decades ago.

Lie No. 5: Tax cuts take money away from Washington. Oh, if that too were true, I'd welcome it. The sad fact is, the more you give back to the American people, the more they spend, and the more money makes its way back to Washington's greedy coffers.

So you see, you self-serving, program-loving, pigs-at-the-trough spending freaks, tax cuts are good for you. And deficits aren't necessarily bad for you.

Look at the facts. And look at your lies. Then look in the mirror. Please tell me which of these disturbs you most. I already know.

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