What the GOP and Corporate Media Are Hiding: The Public Debt Is Putting More Cash in Your Pocket
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And while the dominant deficit narrative sets us up mostly for spending cuts, if there was the same emphasis on any of those real-world causes for the debt, it would lead to different, and far more progressive approaches to the issue: cutting defense spending, restoring at least the Clinton-era tax rates on the wealthy and making deeper reforms to our overpriced health-care system.
Put simply, we're being conned. So, whatever you do, don't buy into the media-driven hysteria.
Joshua Holland is an editor and senior writer at AlterNet. He is the author of The 15 Biggest Lies About the Economy (and Everything else the Right Doesn't Want You to Know About Taxes, Jobs and Corporate America) . Drop him an email or follow him on Twitter .