Posted by
doc, aka Rich from Chicago on Tuesday, October 20, 2009 9:55:51 AM
Just as police attempt to deflect public interest with "move along, nothing to see here", our politicians act as if over-spending is no big deal.
True, in WWII we spent massively (to the tune of twice the GDP if I recall figures correctly), and it brought America back to work. But this wasn't a yearly practice. Further, we're not spending for one-time worthy event ... this spending is being committed as an ongoing basis by creating another entitlement program (and virtually every entitlement program we've ever created has been massively under-estimated regarding its growth over time). It's only when debt goes down as a percentage of GDP over time that it's not a bad thing.
Homeowners understand this principal, as fixed mortgage payments which decrease as a percentage of income. But if entering into a mortage is good, why not enter into another one every year? The average citizen knows that accumulating increasing debt is unsustainable and a sure formula for ultimate bankruptcy. All politicians who act as if this is acceptable are fools who don't deserve an ounce of public respect ... they should be tar'd and feathered and run out of town on a rail. They're villains, charletans, con-men. If they were anything other than politicians being adored on some supposed pedestal they'd be candidates for having portraits hanging in our post offices (most wanted).
If this was responsible behavior (everyone runs their countries this way), consider where does the money come from? In fact, it's not responsible behavior. Financially, we're being happily funded by countries which are being run more responsibly than our own (countries not being run in deficit).
When someone tells you they'll fund this latest over-spending by finding savings in other entitlement programs, remember, those entitlement programs were unsustainable too. Saving by reducing over-costs in social security, medicare, and medicaid are unfunded ... the money we might save by reducing their totals DOESN'T EXIST.