E.J.'s Broken Record

[Geee]

American Spectator:

E.J. Dionne's "What, me worry?" opinion of America's federal and state budget problems should frighten anyone who has had the misfortune to prosper through hard work or wise investment. Arguing that those who claim "we're broke" are crying wolf, Dionne uses economic idiocy and moral travesty to aid those whose goal is to keep as much taxpayer money as possible flowing through the grasping hands of government, the long-term consequences be damned.

Imagine a man, the breadwinner for his family, who loses his job. He has enough in savings to cover his mortgage, country club membership, utilities, food, and payments on four cars for three months. Is he broke today? No. Is he about to be broke if he doesn't dump the country club membership and two of his cars, and start eating at cheaper restaurants, at least until he gets a new, and hopefully stable, job? Absolutely.

Under Dionne's analysis, however, that man is fine because someone else hasn't lost his job. It's the same thinking a mugger might have.

According to his analysis, Wisconsin isn't broke because "employees and bills are being paid" and the U.S. isn't broke because it can still borrow money at low interest rates. Dionne is whistling past the graveyard of government budgets, bringing out the Keynesian and Progressive zombies there entombed.