Seriously. Ed Morrissey does an excellent job shredding the ridiculous argument by the feeble-minded Time writer.
And if debt apologists are going to ignore intragovernmental holdings of debt, shouldn't we throw out the Dirty Fed holdings too? It will be a lot easier to default on the $2 trillion, soon to be $3 trillion, that we owe the Dirty Fed than it will be to default on Social Securty and Medicare benefits.
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Stephen Gandel is really ignorant and Time is just toilet paper.
He might be ignorant, but this is also a specific political technique used to muddle up the entire issue and thus subtract some of the "blame" from your side. The idea is, if your side is doing something bad or unpopular, then you just go out there launching a PR/propaganda campaign that "explains" how your OPPONENT is actually the one doing that bad/unpopular thing. It is even more effective if you get that storyline out into the media before it's widely known and understood that your party is doing the bad thing.
It's the highly paid political consultant's way of pointing the finger at the dog when there are cookies suddenly missing from the jar. The sad thing is that it works, because the media will pick up and run with it, and ultimately the key angle of the issue will be seen by the media as "no matter what party you think is most responsible for our inflation problems, the Dems are the only ones providing a viable solution at this point". And the blame is officially muddied up, transferred, confused. And we are sheeple once again.
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