The most revealing moment in President Obama’s State of the Union address came in a brief passage intended as a folksy laugh line. While acknowledging the need to confront our catastrophic deficit, the president warned against reducing federal spending too sharply. “Cutting the deficit by gutting our investments in innovation and education is like lightening an overloaded airplane by removing its engine. It may make you feel like you’re flying high at first but it won’t be long before you feel the impact.”
In other words, the president sees federal spending as the indispensable engine that keeps all of society aloft! To him, government expenditure—not private enterprise—drives the nation forward. Too bad that the only source of money to maintain this spending is to crush the private sector with taxes, or to crush future generations with unsustainable debt.