Annoying Bobby Jindal claim

On the stimulus package:

Instead of trusting us to make wise decisions with our own money, [the Democrats] passed the largest government spending bill in history -- with a price tag of more than $1 trillion with interest.

The price tag is most certainly not "more than $1 trillion." The price tag is (if you believe the CBO) $787.242 billion. Since each of these dollars adds as much to the deficit as any other dollar you could pick at random from the federal budget, calculating the price tag "with interest" makes only as much sense as calculating the price tag of any government expenditure "with interest." Much as it was last week, money is fungible.

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Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism. He was previously a fellow at The Atlantic and an editor at The Guardian. More

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism, an economics blog that was recently published in book form by Simon and Schuster. He was previously a fellow at The Atlantic and an editor at The Guardian. He is also on Twitter.

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