Blowing Smoke

John Q. Public: "How stupid do these politicians think we are?"
Pug Mahoney: "Very."

   The president claimed the rising federal deficit is offset by increased stock market values.
   Say what?
   Corporate stock values have no relationship to government spending. Zero. Zip. Nothing. Nada.
   It's possible that shareholder value can lead to more tax revenue, but not if rates are cut, which is the current White House plan.
   In any case, Wall Street markets have been steadily rising for the past seven years, long before the current president took office. Therefore, this president does not deserve credit for it.

   The White House also insists that corporate tax reductions will be passed on to workers in the form of higher wages.
   Fat chance.
   Any benefits to a company from higher stock value or lower taxes mean higher dividends to stockholders and/or increased bonuses to senior management.
   
   Concluding advice to White House leaders and flunkies: Stop Blowing Smoke at the public. No matter how many times you say it, two plus two will never equal five.