Too Many Spending Cuts?

Cartoon, Comic, Debt, Economics
FZE3F - Imgur

This comic parodies the silliness in the dialogue of the “Fiscal Cliff” debate.  How many times are we going to hear about “balancing the budget on the backs/corpses of [insert group here]”?  Just because there’s vitriole flying around doesn’t mean a serious conversation is taking place.

I took these numbers from a blog post by Austro-Libertarian economist, Robert P. Murphy.  Had we done nothing, 98.2% of the change in deficit would’ve come from tax increases – not spending cuts.  And all future budget projections have spending increase estimates factored in already – we can’t even get to a place where we’re just spending the same amount every year.  It’s like increased yearly spending is an inevitability.

Spending is (eventually) going to be a very real problem.  The proposals by Republicans have been meager (how can they be anything other without touching defense?), and the objections of Democrats have been groundless appeals to sentiment.

So, as Fred says in the comic: “[Can we] get serious already?”

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Also, a comment from Reddit-land: I posted the above cartoon and it received a little attention.  This comment was my favorite, by far…

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