Think Progress: ‘Let’s Not Pay Back China’
by Morgan WarstlerIf there’s anything that should convince China to become more capitalist, and put less faith in socialism, it is American progressives.
Yesterday Matthew Yglesias’ head shook violently and he barked out like Paul Krugman with Tourette’s :
…you could start musing allowed about how many we just won’t pay the Chinese the money we owe them. Or you could reflect on the fact that if the People Bank of China is determined to buy bonds and prevent the dollar from falling at all costs, then we may as well totally forget about the short-term deficit and just not collect any taxes at all for the rest of FY 2010.
Ladies and Gentlemen, I believe this marks the first time in modern history a liberal has suggested we stop collecting taxes.
Welcome to the naked liberal mind. Technically, it shouldn’t shock us, Matt is just riffing off the subtext of Paul Krugman’s prescription for what ails us – massive inflation. Liberal economics springs forth from this assumption: We just keep printing money to payoff Dem voters until our debts aren’t so big any more.
Email this to a friend | Print |
Share on Facebook
| Tweet this
| 
Follow Us on Twitter
Subscribe via RSS
Got a Tip?