Taxes, Deficit Spending, and the Debt Limit Debated
It is amazing the amount of political grandstanding, and rhetoric coming out of Washington DC, and flooding our television sets as the Democrats blame the Republicans, and the Republicans blame the Democrats on not being able to come to terms with a program which will allow our government to live within its means.
The debt limit has been raised time and time again, and fiscal responsibility in Washington DC, may as well be buried in a Moon Crater.
Indeed, I imagine someone will want to build a Delta IV rocket, to send some people to the moon to look for this elusive "fiscal responsibility" magic stone.
Now we have everyone from China which owns quite a bit of our debt, to all the leaders of all the nations in the G8, and even the IMF demanding that we complete our negotiations, and raise the debt ceiling.
And may I ask for what reason; so that we don't get a bad credit rating, which wouldn't allow us to borrow anymore, and would raise the cost of our current debt? Well, if we keep kicking the can down the road, we will be in that place in the future anyway, and we are only putting off the inevitable in that case.
Apparently some folks in Washington DC don't get it.
It's time to stop wasting money and spending on pet projects, lobbyist demands, and socialist programs.
There was an interesting article the Wall Street Journal on June 20, 2011.
This was an editorial by Mr.
Boskin who happens to be a professor of economics at Stanford University, as well is a fellow at the Hoover Institute think tank.
In case you were wondering on this man's Washington DC credentials, he was also an advisor to President George HW Bush.
In his editorial titled "Five Lessons for Deficit Busters" he stated that "a recent study of successful deficit reductions found they averaged more than five dollars in spending cuts for every one dollar in tax hikes.
" Unfortunately, when looking at the Obama Administration and Democrats plan it calls for continued increase spending, and curtailing spending over a ten-year period.
Meaning most of the spending cuts would come after Obama is out of office.
This is a nice trick, just as President Obama's ObamaCare didn't have the worst provisions kick in until 2014, which would be two years into his second term, meaning he could get re-elected before the proverbial crap hit the wind turbine blades.
Further, the editorial author suggests that Washington needs to be careful with the law of unintended consequences, and pretend cuts which are nothing more than budget gimmicks.
And he firmly believes that it is more important to cut a lot of spending, and raise taxes very little, but obviously the Obama Administration is interested in doing none of those things.
In other words the whole showdown over the raising of the debt limit is nothing more than political theater, yes, and a few more nice Teleprompter speeches to help in his reelection campaign.
Quite frankly I'm tired of listening, these guys aren't serious, it is time to pull the plug on them.
Please consider all this and think on it.
The debt limit has been raised time and time again, and fiscal responsibility in Washington DC, may as well be buried in a Moon Crater.
Indeed, I imagine someone will want to build a Delta IV rocket, to send some people to the moon to look for this elusive "fiscal responsibility" magic stone.
Now we have everyone from China which owns quite a bit of our debt, to all the leaders of all the nations in the G8, and even the IMF demanding that we complete our negotiations, and raise the debt ceiling.
And may I ask for what reason; so that we don't get a bad credit rating, which wouldn't allow us to borrow anymore, and would raise the cost of our current debt? Well, if we keep kicking the can down the road, we will be in that place in the future anyway, and we are only putting off the inevitable in that case.
Apparently some folks in Washington DC don't get it.
It's time to stop wasting money and spending on pet projects, lobbyist demands, and socialist programs.
There was an interesting article the Wall Street Journal on June 20, 2011.
This was an editorial by Mr.
Boskin who happens to be a professor of economics at Stanford University, as well is a fellow at the Hoover Institute think tank.
In case you were wondering on this man's Washington DC credentials, he was also an advisor to President George HW Bush.
In his editorial titled "Five Lessons for Deficit Busters" he stated that "a recent study of successful deficit reductions found they averaged more than five dollars in spending cuts for every one dollar in tax hikes.
" Unfortunately, when looking at the Obama Administration and Democrats plan it calls for continued increase spending, and curtailing spending over a ten-year period.
Meaning most of the spending cuts would come after Obama is out of office.
This is a nice trick, just as President Obama's ObamaCare didn't have the worst provisions kick in until 2014, which would be two years into his second term, meaning he could get re-elected before the proverbial crap hit the wind turbine blades.
Further, the editorial author suggests that Washington needs to be careful with the law of unintended consequences, and pretend cuts which are nothing more than budget gimmicks.
And he firmly believes that it is more important to cut a lot of spending, and raise taxes very little, but obviously the Obama Administration is interested in doing none of those things.
In other words the whole showdown over the raising of the debt limit is nothing more than political theater, yes, and a few more nice Teleprompter speeches to help in his reelection campaign.
Quite frankly I'm tired of listening, these guys aren't serious, it is time to pull the plug on them.
Please consider all this and think on it.
Source...