Xavier Becerra (D-CA) was on Fox News Sunday a week ago Sunday. It is instructive to watch.
At :54 in..."when you don't pay for two wars...you're going to have to pay for that at some point"
He's got the talking point down pat, doesn't he? Bush's "two unpaid for wars" got us into this recession and Obama adding a third and possibly a few more "kinetic military actions" never enters into the equation!
Here's where it really gets good, at around 2:04, he is asked about the pile of IOUs in the Social Security "trust fund" (stop laughing!). To illustrate it, he pulls out a five dollar bill and a treasury bond and then compares them both to the S.S. IOUs, because they are all backed by the full faith and credit of the US.
If they are all backed by the "full faith and credit of the US", then why scare seniors about the possibility of not getting their checks? Just pay them all out of the IOUs, which I'm certain they can take to the grocery store and gas station to buy whatever they need, right? Or was it just a little verbal sleight of hand, where you make a false equivalence, because a dollar bill is not a bond is not an IOU?
Xavier should run as Obama's veep in 2012. He's very slick verbally, his words mean nothing and his demonstrated knowledge of the economy and monetary policy is next to zero. Or else, he's lying, and either way would make a perfect fit with the current resident of the Oval Office.
Cross posted at LCR, Say Anything.