Economics 101
May. 15th, 2006 01:49 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
madbakerQ: Identify the fallacy in this argument:
"Proposition [x] is not a tax increase. [If passed the measure will] issue $xx million in state bonds."
"Proposition [x] is not a tax increase. [If passed the measure will] issue $xx million in state bonds."
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no subject
Date: 2006-05-16 02:59 pm (UTC)Californians financed a lot of the recent economic growth with home equity loans; gonna be hard to convince people the State can't do the same thing. The arguments against debt financing just don't resonate with people any more, since our entire economy runs on it. Even the so-called conservatives running the Federal gummint have completely given up on the idea of fiscal responsibility; that whole concept is just so September 10, y'know?
The long-term view of the US economy looks increasingly gloomy.
no subject
Date: 2006-05-16 03:27 pm (UTC)"mug's game, a thankless task; a useless, foolish, or unprofitable activity. colloq.
1910 Belloc Pongo xv. 233 One cannot arrest millionaires with impunity... Even in a wild democracy to arrest them is Mug's game. 1918 Flying 12 June 427/2 Flying's a mug's game, mater, A fact I know full well. 1930 G. B. Shaw Apple Cart ii. 77, I am going out of politics. Politics is a mug's game."
It derives from "mug 1. a. A stupid or incompetent person, a 'muff', 'duffer'; a fool, simpleton; a card-sharper's dupe. slang."
I love having access to the OED.