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: Instapundit.com

ED MORRISSEY: Obamanomics 101: Borrowing To Pay Debt Isn?t Debt-Debt. ?When does borrowing not cr?

By Glenn Reynolds

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ED MORRISSEY: Obamanomics 101: Borrowing To Pay Debt Isn’t Debt-Debt. “When does borrowing not create debt? Only in two instances: when one has no intention of paying it back, and when Barack Obama does it. Jake Tapper asked new White House press secretary Jay Carney exactly how borrowing over six hundred billion dollars in the best year of Obama?s ten-year budget projections (using the rosiest of all possible economic assumptions) somehow qualifies as (a) balanced spending and (b) not adding to the national debt.”


Full post as published by Instapundit.com on February 17, 2011 (boomark / email).

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