One certainty since the inauguration of Barack Obama as president has been the uncritical endorsement of anything he does from the “God’s Politics” blog. Yes, Obama is the very emissary of God. (Sorry, Pope Benedict, but you don’t support abortion rights and the Sexual Revolution in general, a mainstay of the Sojourners crowd.)
Jim Wallis claims that the Obama budget, with its two trillion dollar deficit, is “good debt.” Read on:
The president has outlined three areas of spending in his new budget that will help by immediately stimulating demand within our economy and by adding long-term value to the country. The first is education, with the president deciding that it is worth going into debt to increase the quality of and opportunities for education in our country. The second, spending on health care, also adds long-term value to our society. Every year billions of dollars are spent unnecessarily when people put off treatment because they are worried they can’t afford it. Third, there are long-term benefits from spending on the environment and infrastructure. Spending on environmental improvements creates jobs that cannot be sent overseas, and will also reduce the high health-care costs associated with various environmental maladies. Debt, of course, must come back down to a sustainable level, but the way to get it there is by investing now in areas that will pay off in the next few years and for generations to come.
So yes, a lot of us are experiencing sticker shock with the new Obama budget. But this sticker shock is like the one of a student looking at their loans — not a credit card bill racked up at Banana Republic. (Italics mine) It is debt that requires discipline, hard work, and focus. But it is the good kind of debt, the kind of debt that can and will produce surpluses in the long run.
I must admit that when I read this, I realize that Wallis is not a serious commentator, but just another political operative shilling for the political classes.
Sorry, Jim, but Peter Schiff is a much better prophet than you ever will be.9:04 pm on March 27, 2009 Email Bill Anderson