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This video explains that the real problem is spending, and that deficits are just a symptom of a government that is too big. This is not to say that CRS and CBO are completely wrong. We have record budget deficits and very low interest rates today, but it’s possible that interest rates might be even lower without all the red ink. And it’s certainly true that interest rates are one of the many factors that determine investment choices, so there’s nothing wrong with including them in the equation.
But magnitudes matter. For all intents and purposes, CRS and CBO want us to believe that more government borrowing will have a very significant impact on interest rates and that those higher interest rates will have a very negative impact on investment. Yet neither bureaucracy offers any evidence for these linkages, in large part because the academic research shows that the relationships between deficits, interest rates, and investment are weak.
By contrast, CRS and CBO have no problem supporting higher tax rates – including more double taxation of income that is saved and invested. Yet there is considerable evidence that punitive tax rates have a significant impact not only on decisions to earn income and be productive, but also on decisions whether to consume today or to save and invest (and thus consume in the future). CRS and CBO also assume, rather naively, that politicians would use any additional revenue for deficit reduction instead of new spending.
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LMAO. ROFL. LOL, as they say. What Griffin didn’t say was that he royally screwed up, that he came off looking like an uptight school-marm and that his jackass move ran the risk of alienating tens of thousands of Olbermann’s very politicized and very pissed-off viewers who were already ginning up a protest campaign against the network.
More importantly, Griffin didn’t say he was going to as much as review an obsolete policy which, as the Olbermann case proves, is not at all compatible with the programming and staffing of MSNC prime time. So, we assume, the moth-eaten policy of phony neutrality and detachment will stand even as NBC continues to profit from the strident engagement of its leading cable personalities.
We also get a welcome clarification. If you violate the policy by maxing out contributions to three politicians, you are suspended for two days. I suppose if Olbermann had only given money to one pol, he would have gotten a swat from the Vice-Principal and two lunch-time detention periods.
Like all mindless zero-tolerance rules, NBC’s ban on exercising First Amendment political rights, is not enforceable…at least not in any rational way.
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