Some stuff is so complicated that only comedians truly understand it. On The Daily Show, Jon Stewart discussed the financing of the Bush recovery plan for Hurricane Katrina with “Daily Show Chief Fiscal Policy Analyst” Rob Corddry:
Corddry: Everything the president is doing is perfectly in keeping with the conservative ideal of limited government.
Stewart: How is what the president is doing limited government?
Corddry: This president believes government should be limited not in size, Jon, but in effectiveness. Now in terms of effectiveness, this is the most limited administration we’ve ever had.
Stewart: Rob, let’s stay with the financial part of this. How is his record spending conservative?
Corddry: Because it’s paid for through supply-side economics. It’s a faith-based accounting approach.
Stewart: Supply-side economics? How does that even apply to this?
Corddry: Wow — sounds like someone’s unfamiliar with the work of Milton Friedman and the Chicago School.
Simply put, Jon, supply-side economics is when a president cuts taxes. This makes people happy, and him popular. The tax cuts deprive the government of money, and after eight years the deficit balloons to astronomical size.
Then, with the economy in tatters, a Democrat is elected. He has to cut the deficit by raising taxes, making people unhappy, and him unpopular, perfectly setting up the next election, where a Republican uses the Democrats’ tax hike against them to win back the White House and start the cycle all over again.
Four men won Nobel Prizes for that, Jon.
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