[Straight Vermonter]

But if it's not financed with higher taxes, and if it doesn't drive up interest rates, it's hard to see how it can destroy jobs.

Uh...how is this spending paid for if not through higher taxes or borrowing (which raises interest rates)?

[Qbert]

“But if it’s not financed with higher taxes, and if it doesn’t drive up interest rates, it’s hard to see how it can destroy jobs.
—Uh...how is this spending paid for if not through higher taxes or borrowing (which raises interest rates)?”

I think he’s only looking at it in the short-term- that because, in his mind, Obama hasn’t “raised taxes” (even though he has in certain instances- the estate tax, for one) and because interest rates are artificially low, that everything should be hunky dory for creating jobs.

This of course neglects your valid point- at some point it will have to be paid back in some form, and it neglects to consider the dramatic currency devaluation that has occurred, which of course leads to rising commodities prices and eventually... job destruction.