Rep. Pete Stark: "As National Debt Increases, the Wealthier America Becomes"
by Andy Adams on September 7, 2009 at 10:17 AM
If you think we are accumulating too much debt, you're just too stupid to understand.
In this interview, Rep. Stark takes a novel view of our national debt. You see it is actually a measure of our "wealth." Who knew?
The interviewer asks a great follow-up question, "So, why not spend another trillon? That will makes us wealthier, right?"
Realizing that he just trapped himself, Pete Stark goes CUJO on the interviewer. He starts asking him where he went to college and how much background he has in economics. You see, he is just too stupid to understand. Going ad hominem on camera is rarely persuasive.
It has been a while since I graduated with my degree in economics. But, I am pretty sure I never learned that national debt was actually a measure of a nation's wealth. We did learn about a concept called "crowding out" where the goverment's excessive debt sucks up all the available liquidity for private investment. We also learned about a thing called "inflation" and the laws of supply and demand.
I guess I did not go to a very good school.