Mayor Bloomberg Says The United States Can Borrow Forever

It is said that the definition of insanity is doing the same thing over and over again; expecting different results. I would say that is true; but I would also put a twist on it. I would say that insanity is doing the same stupid thing over and over again; not expecting consequences. In this lies the psychology of the Liberal. The Liberal continually acts without deference to any sort of consequence; and when the inevitable consequences do occur, they pile the blame on the Right. It’s an age old strategy that–with the help of the mainstream media, and the increasing stupidity of the American people–continues to work brilliantly. A perfect example of this psychological malady is Mayor of New York City, Michael Bloomberg.

In his weekly radio show, Mayor Bloomberg said the following in regard to the sequester:

“We are spending money we don’t have…It’s not like your household. In your household, people are saying, ‘Oh, you can’t spend money you don’t have.’ That is true for your household because nobody is going to lend you an infinite amount of money. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money…Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem.”

Is it just me, or is that an insane thing to say? Let’s break this down:

1. The leader of one of the world’s largest, most important economies has no understanding of basic economics. That’s terrifying.

2. Bloomberg sees an admirable and effective fiscal model in the scenario of a budgeted American family; disregards it, then advocates for the fiscal insanity currently practiced by the United States.

3. The scenario he laid out about “owing the bank $50 million” is inappropriate in the context of a nation. But let’s say it is comparable. Bloomberg claims that owing $50,000 to the bank is your problem, while owing the bank $50 million is the bank’s problem. I’m fairly certain that owing any amount of money to a bank is bad for the person in debt. The bank–in the case of the United States–is China and several other nations. Our “bank” has been more than generous with the amount of money that they are willing to give us because the more they give us, the more they own us. Think about it: If a regular bank can repossess your house in extraordinary cases; what can our “bank” do?

4. This idiotic statement shows just how short-sighted Michael Bloomberg is–not to mention his equals in the federal government.

As crazy as it sounds, this thinking is common in the Democratic Party. This psychology of infinite borrowing without consequences is a mixture of hubris and economic stupidity. With the recent credit downgrade of the United States, and the sluggish economic recovery, we are finally seeing the effects of runaway spending. With Obama, and people like Michael Bloomberg in power, things can only get worse.

Our debt; this bloated, $16 trillion behemoth will continue to gorge itself at the behest of the Left, until our economy dies. And where do you think the blame will be placed when the inevitable finally happens?