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Carney: Deficit reduction is not a worthy goal onto itself

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By Doug Powers  •  January 10, 2013 04:23 PM

**Written by Doug Powers

During the fiscal cliff negotiations, John Boehner said President Obama told him “we don’t have a spending problem.” Judging from Jay Carney’s response to a debt ceiling question at yesterday’s press conference, that opinion is held administration-wide:

“Most importantly because deficit reduction is not a worthy goal onto itself. This is all about making our economy stronger, making it more productive and allowing it to create even more jobs. That is the most important thing when it comes to economic policy as far as the President is concerned.”

Shorter Carney answer: “Three words buddy — trillion dollar coin.”

As far as deficit reduction not being a worthy goal, a few years ago we were told it was:

In 2008 we were told that a government spending far more than it was taking in was unpatriotic. Now, if you don’t want your taxes to go up to cover a government spending far more than it’s taking in, you’re unpatriotic.

Carney’s statement is predicated on the ridiculous notion that reduced government spending and a growing economy are mutually exclusive, but “you have to spend money to keep from going bankrupt” is sound economic policy.

**Written by Doug Powers

Twitter @ThePowersThatBe

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Categories: Barack Obama, Health care, New York Times, Paul Krugman