Monday, February 10, 2014

Selective Deficit Disorder

That's a term coined by David Sirota to describe situations where, on one hand, our leaders propose to cut expenses because of the deficit while, at the same time, they increase expenses via corporate handouts. Sirota cites three examples.

1. The Farm Bill just passed. It cut $8 billion in food stamps but added $15 billion in potential subsidies.
2. Pension benefits to state workers. 10 states have pled poverty to justify draconian cuts to retiree benefits. But, as a report by Good Jobs First notes, in those same states “the total annual cost of corporate subsidies, tax breaks and loopholes exceeds the total current annual pension costs.”
3. The Super Bowl. Despite proposing an austerity Budget, New York shelled out $5,000,000 for Super Bowl promotions. New Jersey has cut pensions, yet spent $18,000,000 on its Super Bowl promotions. Plus, the state spent $400,000,000 to improve the area around the stadium.

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