Again and again people seem unable to distinguish between the two problems of debt and depression. Debt is problematic. Depression is crippling. Critics of deficit spending cite rising debt as a problem, and love the adage, "you can't spend your way out of debt." They're right, and if the plan was to spend our way out of debt then it would need to be scrapped. But the plan is to right the economy which leads to higher tax revenue from businesses and individuals which in turn decreases debt. For some, this line of thinking is either to deep to grasp or too sensible to accept, but it's the only reasonable plan. Now that we've let poor Ireland experiment with the alternative and fail miserably, we should accept that and enact policy to rectify our economic woes. The big, ugly deficit will then begin to disappear.
It's also worth mentioning that some of our representatives on the right side of the Congressional aisle - the so called deficit-hawks - are very keen on controlling the growing deficit...except their posturing is just that, posturing. The reality is that these people care nothing for America's growing deficit as evidenced by the fact that the official Republican party line is to make permanent the Bush tax cuts. Extending those tax cuts will cost the government nearly $650 billion over the next decade. Gonna be hard to pay off all that growing debt without any tax revenue. But if you ask Republicans their plan, they'll gladly explain it. It works like this...
Let's make America today and enact sensible policies that help us solve our actual problem, the economic crisis. Let's fix the economy and let the deficit evaporate on its own, and most importantly, let's stop listening to hypocrites who have no plan for our future but to oppose those who do have one.
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