Watch Live: Second House Hearing on IRS Scandal

Check Out Today’s Hot Posts on TheBlaze Blog!

Business

Dem. Sen. Claims U.S. Doesn’t Have a Spending Problem, It Has a ‘Misallocation of Wealth’ Problem

Feb. 15, 2013 10:22am Becket Adams

Sen. Tom Harkin (D-IA) on Thursday explained something rather extraordinary: The U.S. doesn’t have a spending problem, it has a “misallocation of wealth” problem.

“First of all, I want to disagree with those who say we have a spending problem. Everyone keeps saying we have a spending problem,” he said during a discussion on the Budget Control Act of 2011 (which includes the across-the-board spending cuts known as “sequestration”) .

“And when they talk about that, it’s like there’s an assumption that somehow we as a nation are broke,” he added.

Sen. Harkin, who sits on the Appropriations Committee, continued:

Well look at it this way, we’re the richest nation in the history of the world. We are now the richest nation in the world.

We have the highest per capita income of any major nation. That kind of begs the question, doesn’t it? If we’re so rich, why are we so broke? Is it a spending problem?

No, it’s because we have a misallocation of capital, a misallocation of wealth.

And by “misallocation,” the senator is, of course, alluding to the so-called “one percent.”

“All of this wealth that’s been built up by hard-working Americans has been accumulated into fewer and fewer and fewer hands all the time,” Harkin said.

Presented without comment:

Follow Becket Adams (@BecketAdams) on Twitter

Featured image courtesy Getty Images.

Benghazi, IRS, AP...What's next? Only TheBlaze TV offers the truth from Glenn Beck, Andrew Wilkow, and Real News from TheBlaze. Get instant access and a free trial here.

Back to The Blaze »

Comments (183)

Git-R-Done
Posted on February 16, 2013 at 12:17am
And Democrats wonder why they’re called communists. Looks like Allen West and Joseph McCarthy were right.

Report this comment
Log in to Reply Reply
ODB1111
Posted on February 15, 2013 at 11:47pm
I stand by by statement to fellow coworkers in the government that I could cut expenditures by more than 10% and simply live on a PERCENTAGE of everything I could save above that and be able to buy an Island in less than a year on what the Army Reserve wastes. Not to single them out but I’m more familiar with their spending. There is NO fiscal RESPONSIBILITY in government anymore

Report this comment
Log in to Reply Reply
Bvikay
Posted on February 15, 2013 at 8:08pm
Mis-allocation of wealth. I’ll say! Too much to the federal government. Send this jerk back to the asylum!

Report this comment
Log in to Reply Reply
garbagecanlogic
Posted on February 15, 2013 at 7:55pm
It has been known for years that harkin is nothing but a crazy loon that has the feeble minded people in iowa fooled enough to keep getting elected.

Praise Be To Obama. Psalm 109:8

The U.N. Out Of The U.S.
The U.S. Out Of The U.N.

Report this comment
Log in to Reply Reply
Tom70
Posted on February 15, 2013 at 7:51pm
If you believe this BS this is why our country is FUBAR.

Report this comment
Log in to Reply Reply
Advection
Posted on February 15, 2013 at 7:17pm
Beck pointed out today that all the money in the world couldn’t pay our debt.

Politicians are pure evil they know the truth, but they will never admit it, even after the Dollar crashes and the world is plunged into world wars, famines and diseases. They will continue to lie about the causes and falsely blame others.

Report this comment
Log in to Reply Reply
TreeTrimmerJim
Posted on February 15, 2013 at 5:32pm
“The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.”

Its your property, it can not be seized without probable cause.

Property is not allocated to anyone in a nation founded on these principals.
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness.”

Report this comment
Log in to Reply Reply
Bikkiboo
Posted on February 15, 2013 at 5:18pm
Mary,
Socialism/Communism looks great on paper. It is a child’s delight that everything you want will be given to you and you don’t have to work unless you want to. Alas, it doesn’t work with humans. Actually, it has been tried here in the good ole’ USA. Yes, in New Harmony, Indiana, it was tried twice – both times it failed. Why? Because people found out that they didn’t have to work to get fed. When that happened, the ones who worked and provided for the non-workers began to leave the little town. When no one was left to “provide”, the takers had to leave too. The experiment failed. The next bunch tried it there too. They tho’t they could do it “right” and make it work. It didn’t. The same thing happened. And, it’s happened every time it’s tried. Once the workers quit working, the takers have nothing either. Altho’, in most cases, you get shot if you try to take and don’t work, or you get sick of working hard and getting little in return, so you slow down, and you get shot too. No, Mary, human nature means that this idea looks great on paper, but it won’t work with real people.

Report this comment
Log in to Reply Reply
calebjim
Posted on February 15, 2013 at 4:41pm
If there is a working brain in the Democratic “Socialist” Party, they need to get in gear. With remarks such as this, they really show their level of ignorance.Most of them need to be in therapy.
When this clown publically sharesw his wealth, I will see his willingnwss to sacrifice. This will not happen because he is selfish and will not admit it.

Report this comment
Log in to Reply Reply
bryan1969
Posted on February 15, 2013 at 4:22pm
actually we have an idiot problem in congress.

Report this comment
Log in to ReplyReply
- Constantine Ivanov
  Posted on February 16, 2013 at 1:04am
  To be more precise: a “way too many idiots in congress” problem.
  
  Report this comment
tater515
Posted on February 15, 2013 at 4:02pm
Not surprised to have heard this. I was thrilled the day I learned that Harkin was not going to stay in the senate and am happy that I get the chance to vote for his replacement. Sadly, the options for who will replace him are not likely to include anyone with a belief system that is much different than Harkin.

Report this comment
Log in to Reply Reply
thegreatcarnac
Posted on February 15, 2013 at 3:22pm
America is now unrecognizable. Five years of obama and his marxist democrats have turned us into a communist leaning nation. We are now on the verge of becoming felons because we follow our own contitution. They have purposely tried to sink our economy by spending us into oblivion. The majority is now blatantly being discriminated against. Up is down and down is up; all to make you feel uncomfortable and confused. We need freedom. A fresh wind needs to blow though this land and it will not until we patriots take to the streets and march on washington. Freedom from the government. The government needs to be subject ot s like it is supposed to be. Freedom!

Report this comment
Log in to Reply Reply
bandi9
Posted on February 15, 2013 at 2:30pm
also, i have noticed in last few weeks how the libs keep floating this “tirla balloon” of saying we dont have a spending problem. they think we are so stupid we will eventually believe this. well, Obama did win re-election, maybe they have a point

Report this comment
Log in to ReplyReply
- barber2
  Posted on February 15, 2013 at 3:16pm
  The Democrats make up new word definitions ( investing/ redistribution/ wealth misallocation ) and they also state lies ( are do not have a spending problem/ we are the most transparent administration/ Obama Care is ” Affordable ” Health Care / the OWS is the 99% ) . Then they use their Lap Dog MSM to popularize the words and the lies. Do the words propaganda and brainwashing ring a bell ?? Are you familiar with the Alinsky book Rules For Radicals ? There is a major connection between the two previous questions !
  
  Report this comment
David-FL
Posted on February 15, 2013 at 2:27pm
Harkin has a misallocation of MORALS!

Report this comment
Log in to Reply Reply
bandi9
Posted on February 15, 2013 at 2:25pm
Harkin=idiot/traitor. glad he is not running again. mary elizabeth, whoever the hell you are, you are also a kool-aid drinking idiot.

Report this comment
Log in to Reply Reply
David-FL
Posted on February 15, 2013 at 2:25pm
MBE says communsism = fairness to all.

You have to displose of your frontal lobe and reject reality to buy into that. An absolute denial of History is required to pursue such (non) thinking…

Report this comment
Log in to Reply Reply
FSM_47
Posted on February 15, 2013 at 2:21pm
Karl Marx felt the same way.

Report this comment
Log in to Reply Reply
FSM_47
Posted on February 15, 2013 at 2:20pm
KARL MARX felt the saem way

Report this comment
Log in to ReplyReply
- barber2
  Posted on February 15, 2013 at 3:19pm
  Loved the video showing Bill Ayers at that OWS mess saying he works daily to destroy ” capitalism!” Wish these jerks would all pack up and go to Cuba or Venezuela where anti-capitalism ( wink, wink ) is already being practiced . A big, unjust, dysfunctional, unhappy , restrictive MESS !
  
  Report this comment
Constantine Ivanov
Posted on February 15, 2013 at 2:20pm
I agree with Sen. Tom Harkin.
I’m personally suffering the pan-American “misallocation of wealth” problem: why the Bill Gates and George Soros money are still not on my Citibank account?

Report this comment
Log in to Reply Reply
Bill Wallace
Posted on February 15, 2013 at 2:00pm
I agree that there is a misallocation…

Of common sense.

Liberals are sorely lacking in it.

Report this comment
Log in to Reply Reply
Arshloch
Posted on February 15, 2013 at 1:59pm
The dumb-o-craps have a ‘misallocation’ of intelligence. They lack any.

Report this comment
Log in to Reply Reply
taintso
Posted on February 15, 2013 at 1:33pm
He is right we should cut off the hands of the positions that spend. Round up and auction off all the welfare recipients that have been on it for six months along with the disabled that are self inflicted (drugs aids etc.) and everyone with an Obama phone.

Report this comment
Log in to Reply Reply
grickm
Posted on February 15, 2013 at 1:28pm
Perhaps Harkin suffers from a misallocation of knowledge or intelligence, or both.

Report this comment
Log in to Reply Reply
mtsnj
Posted on February 15, 2013 at 1:14pm
It’s a miracle our deficit and indebtedness caused itself to happen..congress has nothing to do with what is spent or misallocated. It’s just a miracle..the second coming..just a miracle..
These guys couldn’t tell the truth or they spontaneous combust.

Report this comment
Log in to Reply Reply
Ragnars Repos
Posted on February 15, 2013 at 12:57pm
This is blatant communist propaganda. Not that conservatives would know the difference, and have sense enough to act to defend themselves.

The rot continues. There is no opposition. The country is falling.

Report this comment
Log in to Reply Reply

It appears that you have Javascript Disabled. Please enable Javascript in your browser preferences for a better user experience on TheBlaze. You can not comment without Javascript enabled.