Category Archives: Economics

Economic Ignoramus?

…or liar?

Governor O’Malley on Fox News Sunday, in an attempt to defend the president, said that it “was not true” that he hadn’t cut the deficit in half as he promised. How? By confusing the deficit with the debt. He said that when the president came into office it was ten trillion, and it had only gone up six trillion since then, which was about “half.” Or something like that. It wasn’t clear what his point was, but it was clear that he either doesn’t know what the word deficit means, and the difference between it and the debt, or he thinks we’re stupid. Unfortunately, Senator Ayotte, while sticking to her guns, didn’t point out his ignorance in real time, nor did Chris Wallace.

Of course, being an economic ignoramus and a liar are not mutually exclusive by any means. Many Democrats seem to be both.

Joe Biden Is Right

Three charts that prove the blind squirrel found an acorn.

[Update a while later]

Poor media. Biden has forced them to actually cover the middle class:

On the Biden remark, the media sure seemed miffed to have to respond to the Romney campaign (hey, who’s running this race anyway!), and more importantly to be dragged against their will into a policy discussion. Now that was the reason, of course, the Romney-Ryan ticket pounced on Biden. They’ve been talking about their five-point plan to restore the middle class for months, but the media yawns. Two conservative studies were released Tuesday showing that the middle class will shoulder some of the tax burden associated with debt repayment. Again, the media yawned. So when opportunity presented itself, who could blame the Romney-Ryan team for ramping up the volume? At least they got the media to report that the middle class has lost ground under Obama.

And that darn Ryan, with his gaffe about how he agrees with Joe.