Obama declares deficit spending unpatriotic, enless he is the one spending.

Today's Sponsor

Thursdays with John Hayward

08.25.11

On the day before Independence Day 2008, Senator Barack Obama pronounced deficit spending "unpatriotic" at a campaign event.  He would go on to rack up more debt in three years than his predecessor did in eight. Does he still think deficits are "unpatriotic," or is that the wrong word?

Sustained deficit spending is certainly irresponsible.  Trillion-dollar deficits are an accepted fact of life in Washington, even after a big "deficit reduction deal."  This means the government is willing to spend more money than it collects, in perpetuity. 

Deficit spending is tyrannical.  It's the ultimate form of taxation without representation, presenting children not yet born with bills they never had a chance to vote against.  It establishes programs that become permanent financial obligations for future Congresses.  It's a lie, because it offers the people subsidies and benefits, paid for with money that doesn't exist.  When politicians speak of trillion-dollar "stimulus" programs, they're distorting the free market with false information, and wielding economic influence they don't really have.

Our massive national debt, built through decades of deficit spending, makes America weak.  Increasing individual and corporate dependency on a rapidly growing government drains the vitality of the free market. Unfriendly creditor nations like China gain unhealthy amounts of economic leverage over us.  Credit agencies like Standard & Poor's become major players in public policy debates.  In the end, social chaos caused by the collapse of unsustainable entitlements will destroy civic order.

Does all of that add up to make deficit spending "unpatriotic?" Barack Obama claimed to think so, four trillion dollars ago. — John Hayward