Jeff Neal for C.U.R.E. - Certain Unalienable Rights Endowment

Debt Limit Debate; The Plundering will continue until morale improves

In Opinion, Political Critique on August 1, 2011 at 10:34 am

OR

Mugger buys victim cup of coffee

The federal government will spend $3.6 trillion this fiscal year, borrowing about $1.4 trillion of that and paying $2.2 trillion with current tax receipts and other fees etc collected by the government.  In Washington, that situation is projected to continue for the foreseeable future, yet it is repeatedly called unsustainable (but I don’t think that word means what they think it means).


To reduce that deficit, we need to cut spending or increase taxes.

Wonder how that will go?

We’ve just seen what is being called an “historic” or “heroic” level spending cuts.  That radical act occurred at the brink of, we’re told, an international financial meltdown.  Those cuts amount to about $100 billion per year over ten years, mostly in the out years,  i.e. mostly a fantasy, not to mention are merely a drop in the bucket – 100 billion/3.6 trillion is a whopping 2.7%.  Also, these ‘cuts’ are reductions in increases – what a bunch of liars!

So, “cutting spending” is unlikely to happen, it seems.  Turn to the tax increase solution —> we would need to increase taxes by $1.4 trillion to cover the overspending.  That means we need to increase taxes by 64% ($1.4T /  $2.2T).  I dare the Democrats to propose that.  A 64% increase in EVERYONE’S taxes.  Or, try confiscating that much of the income made by “millionaires and billionaires” and watch them stop earning any money in the US.

Said otherwise – in a $14 trillion economy, we would need to confiscate 10% of the GDP in order to make up the difference.  That will not happen as long as there are elections, so we’ll keep borrowing from our children until the market figures out that they’re not likely to be able to pay it back.

It makes one wonder – Why can’t anyone in the political class (you would hope maybe a Republican could do it) make the simple point that we spend too much?  It’s so easy.  We know why no one makes the case; it’s because they’re all complicit in the lie and its consequences – their continued power.  The Republicans like power just as much as the Democrats like power, and reducing government spending reduces their power.

Sound the alarm – Melt-down is the only likely solution.  Watching these fools congratulate themselves for keeping our nation from “defaulting on its obligations for the first time in its history” would be funny if it didn’t portend disaster.  They have not the discipline to stop the wreck.  And, along the way, they accuse the Tea Party – the only part of the group acting responsibly – of being terrorists and thugs.

I see it like this…. the mugger has been caught with the loot.  The thief begs for mercy because (a) he was going to give the money to old/sick people, and (b) now the police (Tea Party) show up to stop the theft.  The thief declares that, as a result, all those old/sick people are going to starve and it’s Paul Ryan and Rush Limbaugh’s fault.  So, the mugger gives his victim $3.50 for a cup of coffee (i.e. a little bit of a reduction in the level of spending increases) and the mugging continues.

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