Why do I have the urge to sing Bob Dylan's 'The Times they Are a Changing' ?? Well, they are changing. Word is that Peter Orzag, Barack Obama's Office of Management and Budget Director, has informed the President-Elect that his budget deficit will be in the neighborhood of $1 Trillion for 2009. Not 'B' as in Billion. T. Trillion. As in 1000 Billion.. One F**king TRILLION !!!!!!! All together now..... WTF ???
Ganted, both sides have their share of blame. Obama's budget will crack the barrier by an additional $500-600 billion, but some of that is in tax cuts, so perhaps the old GOP adage of tax cuts resulting in higher governmental revenue (a theory I do endorse for the most part) will help cut that deficit. But there are other reasons..
The liberal wing of the Democrats have had spending go insane, thanks to programs like Medicare have automatic budget increase more than triple the rate of inflation. But my party have their share of blame too. The War or Terror is still costing bundreds of billions annually, and Medicare Part D is a colossal budget buster too. We all have our share of the blame. Except Bobby...
In the first 225 years of our country, we had a total budget deficit of about $4 Trillion. In the last 8, we have had another $6 Trillion. Now, we're cracking another trillion in a single year. And no one in DC seems to care anymore on either side. We're so afraid of an economic slowdown, that we'll bankrupt another 50 years of our future to save one year of recession. It's like China and Japan are the Pay Day Lenders, and America is the crackhead looking for another fix til payday - so they can borrow all over again...
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4 comments:
Political theory aside, you simply cannot have tax cuts and two wars at the same time.
That's like your plumbing and electrical both going out the same month, and you still go out to the TC and drop a big wad of cash, because Tiny Tina is there.
Probably best that you catch Tina on her next swing throught the Magic City...
If spending is pared back to the _constitutional_ mandates, two wars (? really one war in two theaters, ingonre the spin of an illiterate press) and tax cuts are quite possible. Alas the smell of pork that inflames the lustful notions of re-election, some what fulfilling DeTocqueville's observation, but the kybosh on any progressive control of spending, let alone the micromanagement of that squandering.
Must go, the gloom and doom prophets have stumbled on the notion that the US doesn't figure into endtimes prophecy, so if the rapture is coming, maybe the fiscal issue is part of the equation.
when i was in africa a few months ago in zimbabwee they were printing million dollar bills their money is worthless hope ours will not be like that anytime soon
Well...I guess if we're gonna believe in a "War on Terror," every single altercation from now until the end of time is gonna be a "battle" in this war.
A war on terror has as much a chance of success as a war on drugs.
I prefer to think of our current situation as a) a war against the people who attacked us; and b) a war against people who are like the people who attacked us other than the fact that they did not, and it increasingly looks like could not, attack us.
But I'm a commie...
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