Newt in Debt

In the news recently Republican Newt Gingrich’s people admited that while Newt is on vacation in Italy his failed presidential campaign is almost $5 million dollars in debt.

Just how does someone spew rhetoric about how evil debt is and how we must cut deep into social programs to cut defecit spending but then go into a huge amount of debt himself? And its not just him. Michele “Crazy Eyes” Bachmann left the race a cool million in the hole and she was the Tea Party darling.

This isn’t even a photoshop

So putting slogans aside we can see not all debt or deficit spending is bad. I get that run away spending is wasteful and harmful but responsible deficit spending usually allows for a profit. This is why a line of credit in business is so important. Free market requires going into debt to expand and make more money.

The same is true for government spending. Investment in infastructure, research and our youth will pay in dividends for the future! Estimates for just NASA’s ” return on investment range from 33% — not great, but not bad — to as high as 10 to 1.”. So lets stop this attack on government spending and look at this in a rational manner. Responsible spending, even deficit spending, can pay off in the long run.

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