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Who's Afraid of the Big Bad Debt?

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Andrew Sullivan makes an interesting point about the Republican's obsession with Obama's stimulus spending:

The way in which cynical and amnesiac Republicans have tried to portray
this as classic big government liberalism is a lie. You can debate the
merits of each initiative, but this is obviously not an administration
as fiscally reckless as the last one. Mercifully, they have a chance to
show it in earnest next year. And to call the bluff of those
Republicans yelling about spending while having absolutely no plans or
ideas for cutting it.

I've always believed that this obsession has little to do with actual fiscal restraint and is actually a weapon to disenfranchise the poor. Anyone versed in business know that to make money, you need to spend money. That is the essence of Capitalism: The use of capital to create profit. It's why we have a banking system, and why kids go to business school to learn how to leverage it.

Without capital, it would be impossible to invest for the long term, and 99% of the infrastructure, giant buildings, and huge multi nationals we have wouldn't exist.

When banks go broke and no one is spending money, only the government has the ability to inject capital into the economy. While Republicans didn't have a problem with government bailing out banks, they did have huge problems when it came to government bailing out poor people who had lost their jobs.


Because banks make people like them money, and poor people don't. It's as simple as that, and why Republicans pretend to be fiscal conservatives.