Elizabeth Warren on paying for expensive program: 'C'mon, there's always money...'
Elizabeth Warren has forgotten, if she ever knew, Margaret Thatcher's immortal dictum: "The problem with socialism is that sooner or later, you run out of other people's money." In what ought to be a career-ending slip, facing a friendly questioner, Lily Eskelsen García, president of the National Education Association, her belief in a fantasy world where money can be endlessly spent came out. Watch her brush off concern over funding an expensive education program with the words, "The way I see it, there's always, c'mon, there's always money. It's there."
Juan and Evita Perón thought the same thing, and they ruined the economy of Argentina, a country that had enjoyed a standard of living comparable to that of the United States at the turn of the twentieth century, only to fall into a long-term decline that currently has it at roughly 20% of the U.S.'s per capita GDP.
Of course, it may be that Warren had in mind not printing up or borrowing endless money, but rather gutting programs which she doesn't like. Her follow-up words were, "Are we going to spend the money on defense or are we going to spend the money on our children?"
But can the defense budget "always" be cut? Even in the face of China's continuing build-up? Does Warren understand that aggressive rising powers with a chip on their shoulder can create a global catastrophe if their military expansion is not matched by competing powers? Her reading of twentieth century history must be shockingly inadequate.
No wonder Warren is refusing to answer how she would fund her Medicare for All program because she believes the money is "always there," just Juan and Evita did.
Photo credit: YouTube screen grab (cropped).