John Ransom

It’s official: Nothing matters but getting the next great fix.

Hook us up Doc, feed it to us; inject it. It doesn’t matter how we get it, as long as we get it.

The future doesn’t matter, as long as we get high immediately.

The drug of choice is government money of course.

The examples are legion.

The Congressional Budget Office, responding to a request from congressman Chris Van Hollen, Democrat rep. from the People’s Republic of Maryland, said this week that while cutting government spending now will marginally hurt growth the next few years, in future years it will help the economy grow.

“Although output would be greater and employment higher in the next few years if the spending reductions under current law were reversed,” says a portion of the CBO letter to Van Hollen quoted in the Washington Post, “that policy would lead to greater federal debt, which would eventually reduce the nation’s output and income below what would occur under current law.”

But of course, that’s not the takeaway we’re seeing in the papers, so to speak. Or amongst politicians, who get their talking points from the papers…or vice versa.

CBO: Sequester cuts would cost up to 1.6M jobs through 2014, says The Hill!

CBO Says Reversing Sequester Would Boost Employment, Output, echoes the Wall Street Journal!!

Sequestration Will Prevent Creation Of Up To 1.6 Million Jobs In Next Year ..., is the predictable reaction of the Huffington Post!!!

“Oh, %@#$^#!!!!,”says I.

If there is a persistent war on anyone going on these days, it’s a war on our kids and grandkids.

Every time we borrow a dollar, it costs us ten future dollars –sometimes more- in debt service.

"It's the school district equivalent of a payday loan or a balloon payment that you might obligate yourself for," says Democrat Bill Lockyer, California’s state treasurer about one such arrangement common for school districts in the Golden-Plated State. "So you don't pay for, maybe, 20 years — and suddenly you have a spike in interest rates that's extraordinary."

John Ransom

John Ransom is the Finance Editor for Townhall Finance, host of Ransom Notes Radio and you can catch more of the best money advice and monetary commentary by him daily 10am PT, 1pm ET at or on Comcast Cable


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