Who’s Afraid of the Big Bad Debt?

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.

Why?

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.

Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.