Obamatons lecture Howard Schultz about debt and the importance of leaving such matters to them

The Democrats just don't stop with Howard Schultz, do they? The latest wave now, though, is particularly revolting, coming as it does from smug, self-satisfied, know-it-all Obama administration 'wonks.' "America is not a company," [former Obama economic council head Jason] Furman, now a professor at Harvard University, told CNBC this week. "And in fact, many successful companies are much more leveraged than the United States," he said, adding that the present value of America's growth far exceeded its debt obligations. Both Furman and former Treasury Secretary Lawrence Summers insist that it's time for Washington to end its "delusion" with debt reduction. In a Foreign Affairs essay, the economists argued that large deficits are a function of falling revenues, rather than surging entitlement spending. "More spending is not, by itself, something to be afraid of," they wrote, arguing that high levels of debt...(Read Full Post)
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