"Out of our total spending, 43% is money we don’t have. Right now, in order to even start catching up at anything like a reasonable rate, we would have to cut government spending nearly in half (or double the government’s income – i.e. taxes – which would have ruinous consequences and probably isn’t even possible), yet the proposal to cut spending by less than one percent is enough to threaten a government shutdown and become a major election issue."
Thanks Jake for putting the clusterfuck in perspective. Most of us can see the writing on the wall, and yet our elected officials are driving full steam towards the precipice. We hear Liberals claim one of a few things. Either they deny there's a fiscal problem at all, claim the current economy and spending is Bush's fault, or claim that simply raising taxes will fix everything.
Even if raising taxes by X percent meant an equal tax revenue increase of the same percent, which is never the case, we cannot tax our way out of this hole. Nor can we, as idiots like Michael Moore suggest, simply seize the assets of the rich to pay for it. Even if we were to ignore the economic, political and constitutional implications of such action the fact remains that there's not enough wealth. Moore is also too dumb to realize that once those assets are seized they will never again generate wealth or any tax revenue.
What's truly scary about all of this is that the Republicans aren't willing to do a damn thing about it beyond cutting a few billion here and there. That's all good for political theater, but it does little to nothing to address the underlying problems.
At some point this house of cars will fall, and you can be sure that it'll be you and I who will suffer rather than the Ivory tower "progressive" elites who did all they could to ruin this country.
1 comment:
The national debt is more than all the dollars in existence. It is impossible for this country to ever pay its debt.
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