On Twitter today, white house press secretary Robert Gibbs (@PressSec) answered some questions from the twitterverse. One question was raised about the recent Bush-era tax cut extension congress recently passed. The question: “Why does your admin continue to lie that tax cuts cost $$$? You can’t spend money you don’t have.”

The tax cut extension recently passed by congress, which also contained an extension of unemployment benefits, is expected to add over $800 billion to the deficit, which is what Secretary Gibbs refers to in his reply: “Regardless of your views, you have to admit extending tax cuts above $250k adds to the deficit”.

Actually extending cuts above $250k is only a small piece of the $800+B pie. And, Mr. Secretary, if the government wouldn’t spend more than it takes in, the cuts wouldn’t add one red cent to the deficit. 

Consider your household budget. When planning your budget for the next month, do you plan to spend more than you earn? Or, if you see that you’re on track to do just that, do you cut unnecessary spending? Well, from personal experience, I cut unnecessary spending.

So what could government stop/cut funding for in order to “pay” for these tax cuts? First, stop funding the war on drugs. Criminalizing an activity that harms only the user puts all the power in the hands of gangs & drug lords. Am I saying it’s ok to do drugs? Of course not. But I do believe each individual should be allowed to decide what to put into his/her own body.

We could also close many of the military bases we have in over 160 countries. Why do we task ourselves with the responsibility of defending nations that can defend themselves? Countries like Japan, South Korea, Germany, just to name a few. 

There are many other cuts that could be made, but you get my drift. The fact is, thanks to the tax cut extension, there will be over $800B that will be able to be spent/invested/saved which will better help to jump start the economy more than the ill-advised trio of stimuli (which started with Bush 43).

Any questions? Class dismissed.

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