My take on this is that the Democrats and Obama don’t really want to solve the deficit problem at all. How many times during the last few weeks have Obama and the talking heads basically come out and said, “We don’t have a spending problem, we have a deficit problem.” Or “It’s a false argument to say that we have a spending problem.” They are trying to convince the American people that a $16 trillion deficit doesn’t make any difference at all! I suppose that by repeating it over and over to the lame stream media they hope that they can trivialize it and it will become a non-issue.
Perception is reality and if this mantra is continually echoed over and over, pretty soon the public will get so used to hearing these huge numbers it won’t resonate with them anymore. After all, look at the stock market; it reached new highs and who knows where it will go next? How bad can things be? No one is mentioning however that the Fed is pumping money into the economy on a monthly basis via QE3. Somehow that never comes up.
Simpson and Bowles are out there in earnest with some real solutions to a growing problem, but somehow Obama, the media and Congress are ignoring their advice. These two gentlemen are leading the parade but unfortunately no one is showing up to cheer them on.