Saturday, October 31, 2020

Deficit Reduction and Tax Breaks: Rhetoric and Reality

Actions speak louder than words. A tree is known by its fruit. Where your treasure is, therein lies your heart. These three sayings each have at their root a value on integrity or authenticity that cuts through purported assertions designed to manipulate or otherwise mislead. Integrity here is consistency between word and deed. When members of Congress have cried that the sky was falling under the weight of the annual deficits and the accumulated debt of the U.S. Government, a person might ask by looking at the actual votes on legislation whether the representatives really considered the fiscal imbalances as so dire. If someone exclaims that her house is about to explode but does not act accordingly, such as in running out of the house rather than finishing dinner, it is reasonable to doubt that the person really believes that a blast is imminent. In protecting tax breaks even amid a deficit of over $1 trillion in 2011, members of Congress belied their own warnings concerning the American governmental debt crisis. The American people as a whole let their representatives get away with the Janus-like stances, and this in turn eventually allowed the U.S. Government debt to exceed $20 trillion. 

The full essay is at "Fiscal Rhetoric and Reality."