Congress Needs New Shingles And Nails.. But Should They?
This week, Timothy Geithner asked Congress to raise the debt ceiling past it's current level of $14.2 billion. It just cracked the $14 billion level, and the estimates are that the ceiling will be broken in two months. Our math tells us that we're running a budget deficit at an annual rate of $1.2 trillion a year. To us, that is frigging obscene....
Oh yeah, budgetary changes need to be done, But, the question today is do we have enough time to cut spending before the ceiling is hit? We always try to equate governmental issues like our own budget. It's a common sense analogy, but it's not always realistic, mainly because Washington DC can't seem to prioritize anything. Normally, you would cut expenses and find a bridge to pay bills until you can balance the budget again.
But, we don't live in the same world that DC does... Yeah, cutting a trillion dollars is a daunting task, but we used to be there beforehand. It should be workable in theory. However, we can't seem to cut anything without a special interest group crying bloody murder about it. Mid-year budget cuts are impossible, so we don't really see a way for Washington to fix all this within the next 2 months. Sometimes, the first step is to bridge the gap til then. Afterwards, the budget can be fixed. The 2012 budget will need to be a radical one, loaded with cuts for tons of useless spending..... Up the limit to $15.5 billion, and somehow, balance the 2012 budget. Yes, I AM just as unrealistic...
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