Turning virtue on its head

Published January 22, 2014

By Carter Wrenn, Talking About Politics, January 21, 2014.

Back when General Washington whipped King George the old saying ‘A penny saved is a penny earned’ was a bit of folk wisdom hardly a soul disagreed with – but these days modern economists have determined that kind of old-fashioned virtue is really a vice and that the true path to prosperity is borrowing – which is why the economists were tickled pink when they saw the headline the other week that read: ‘Consumer borrowing rose $18.2 billion in October.' 

At last the long moribund ‘consumer-driven economy’ was showing signs of life.

 

Of course, this new modern idea of virtue is a little odd – after all, it leaves American families $18 billion deeper in the hole. But the masters of economics have no doubt they’re right – even though their turning virtue upside down hasn’t worked out too well over the last few years.

 

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January 22, 2014 at 11:20 am
Norm Kelly says:

I was under the impression that the central planners in Washington had proved conclusively that debt and deficit spending was actually good. Aren't they now saying that increasing the national debt from $10TRILLION to $17TRILLION is a good thing? Aren't they claiming now that the economy is in recovery because of their ability to spend more than they receive/steal?

Aren't the central planners in the process/currently telling us that continuing to spend on items such as unemployment benefits and food stamps will also contribute to the economic recovery? So, the obvious and logical conclusion to this has to be that if deficit spending and debt is good for the nation, is good for the central planners, then deficit spending and debt is good for the people also. Just because nobody is paying for anything doesn't mean it's a bad thing. Does it?

Is Carter trying to claim that living within ones' means is bad? Is he claiming that spending only what you have is detrimental to the overall economy? What a ludicrous idea! I'll bet that Mr. Wrenn comes to this conclusion because he's an extremist conservative who hates blacks, minorities, women, gay people, and unemployed. I'll be Mr. Wrenn also believes in that meaningless document, the Constitution! There is no other explanation. If he were a good lib, he wouldn't be labeled a racist because he wouldn't be making these outrageous comments in his blog/editorial posts. It's likely that the underlying undertone and intent of this post is to show his hatred for Barack for the sole purpose of his being a (mostly) black man.

I've been converted to the lib mindset. Starting this year, my new year's resolution is to spend as much as possible, go into debt as far as possible, because it is my duty as a good comrade, in order to spur the economy. I've watched enough presentations by K, Barack, Nancy, Harry to know that without my deficit spending the economy is doomed to failure. I've read enough of their comments & writings to know that without my deficit spending, some poor kid is going to bed hungry tonight. Just like the central planners, and states run by Demons, I'll worry about how to handle the deficit at a later date. In the end, I'll still have the choice of filing bankruptcy, so it won't matter. My efforts will still have spurred the national & state economy, my efforts will still have put food on the table of some poor person/family, and my efforts will still have allowed some unemployed person to get their benefits to pay for their living expenses.

If more of us finally understood the benefits of deficit spending, and increasing debt in general, just think of how much better off the economy would be and how much better off the majority of residents in this country would be. It seems that $18billion is only a good beginning, but hopefully people will do their civic duty better in the months to come.

Power to the debt! Power from the debt!