Claire Shipman's Latte Economics

Claire Shipman shows us why it's important to actually know something, anything about economics before discussing it in front of millions.

First, the obligatory Bush Bashing on the deficit:

"a parting gift from one president to the next of the most unwelcome sort."

The President can't spend one dime without the consent of congress. But that pesky fact flies in the face of the "Everything is Bush's fault" narrative.

Then we have this asinine little exercise:

"Now, we came up with a few GMA solutions to try to put this in perspective. If every American were to pitch in $2,000, we could pay off this year's deficit. Or, if we handed over, each of us, 500 gallons of gasoline or, in terms we could all really understand, if every American gave up 666 lattes for a year, we could pay off this year's deficit. Robin?"

OK. Let's humor this moron for a moment. $2,000 a person equates to $8,000 dollars for a family of four that probably doesn't even drink lattes, much less 666 each. I know $8,000 isn't a lot of money to condescending snobs like Shipman, but it is a lot of good money thrown after bad to most people. And even if the deficit were paid off for one year, it just gives congress license to spend even more of our money. Shipman, like most lefties believes that government is the only entity that can never do with less.

Shipman also (unsurprisingly) fails to realize that the money she wants throw down the government rat hole would not be spent in the job creating private sector, which will slow down the economy, which will result in lower tax revenue. Then idiots like Shipman will call for even higher taxes and the downward spiral continues.