It may be because I’m in Minnesota – until only recently, the last socialist nation on Earth – that my ears are attuned to absurdities like one (there were many) spouted by our “Acting President” Barack Obama.
The lines in his (BIG AIR QUOTES HERE) “Deficit Reduction” speech (END BIG AIR QUOTES) where he refers to deductions and offsets in our tax code as “spending” made my head spin. It is just clearer confirmation that President Doh!bama and his crowd believe that 1) all money belongs to the government; 2) the economy exists only because of the government; and 3) only by its largesse does government allow its citizens to keep some of what they earn.
How else to describe the idea that NOT taxing citizens for certain purchases and activities equates with deficit “spending”? Spending implies that you had the money, and used it to purchase something (the Cash Method.) Deficit spending means the incurring of financial obligations that you intend to pay off with future income (the VISA Method.)
Saying there is “Deficit Spending” built into a tax code means that you consider the money to be yours, but that you are “spending” some of it by letting the people who earn it keep it.
Tax breaks, loopholes, deductions… call them what they are. But they are NOT “spending.”
Obama’s language has never provided a clearer and more instructive insight into his economic views. His words are a frightening brain scan of the true workings of the mind of a socialist – no, a communist – in which money belongs to the state and is to be doled out as the state sees fit.