Madoff, Shmadoff: Tim Pawlenty Says The 'Federal Government Is Running A Ponzi Scheme' (VIDEO)

Pawlenty is a Ponzi scheme.

And this is the party that "lost" how many millions in Iraq!?

Yaaahhh for aliteration!

And this merely illustrates that even a stopped clock is right twice a day.

Fundamentally his argument is sound, despite being applied selectively for political advantage. Deficit spending uses future revenues (later investors) to pay off immediate expenses (current investors) and is ultimately unsustainable. Eventually spending will need to be cut or revenues increased to avoid an interest based death spiral (one the US is already well into). Certainly there are valid reasons for deficit spending such as ameliorating the effects of a recession, however most administrations use it to achieve todays goals without paying the long term consequences and leaving the mess to be cleaned up by their successors.

The irony of Pawlenty complaining [i]now[/i] about governmental spending is that Obama is [b]only[/b] president since Reagen who has a legitimate reason for ongoing deficit spending. Had he made some commentary about the billions of dollars being wasted during the Bush administration he might not deserve the ridicule being heaped on him. However this is pure partisan bullshit.

...Pawlenty criticized the administration for "making spending obligations based on hopes and wishes," saying that he instead proposed "a balanced budget requirement."

This from the governor who asked for bids on a huge road construction project in Minnesota with the stipulation that the contractor with the winning bid would have to finance its own work while waiting for payment from the state.

From the Mpls. Star Tribune: "Short of cash, the Minnesota Department of Transportation hoped to sell contractors on the cost-shifting scheme as a way to jump start construction before it had all the money.

"It planned to pay builders back as federal funds arrived.

"Bidders didn't bite."

Pawlenty. What a freakin' piece of work.

"The federal government is running a Ponzi scheme. It's a Ponzi on the Potomac."

Can't be worse than Wingnuts on Wall Street.

Out of the governorship bitch. Punk ass slut.

Minnesota will be so much better off when you take a right wing "think" tank job after you fail miserably as the next great thing in the GOP. You tore a page out of Palin's book: quit early and run away from your failures. You would be great at that parlor game, Catch Phrase. It will take years to undo the damage you have done to Minnesota.