We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
The California morass has Democrats in Washington trembling. The reason is simple. If Obama’s health-care plan passes, then we may well end up paying for it with federal slips of paper worth less than California’s. Obama has bet everything on passing health care this year. The publicity surrounding the California debt fiasco almost assures his resounding defeat.
It takes years and years to make a mess as terrible as the California debacle, but the recipe is simple. All that you need is two political parties that are always willing to offer easy government solutions for every need of the voters, but never willing to make the tough decisions necessary to finance the government largess that results. Voters will occasionally change their allegiance from one party to the other, but the bacchanal will continue regardless of the names on the office doors.
California has engaged in an orgy of spending, but, compared with our federal government, its legislators should feel chaste. The California deficit this year is now north of $26 billion. The U.S. federal deficit will be, according to the latest numbers, almost 70 times larger.
The federal picture is so bleak because the Obama administration is the most fiscally irresponsible in the history of the U.S. I would imagine that he would be the intergalactic champion as well, if we could gather the data on deficits on other worlds. Obama has taken George W. Bush’s inattention to deficits and elevated it to an art form.
I just finished The Road to Serfdom, by Friedrich A. Hayek. It should be required reading right now. Collectivism is about power and who gets to make the decisions. It is not about charity or the plight of the poor. I wish someone would demonstrate for me a society that consistantly lifted those from poverty using collectivist ideology. The phrase trickle up poverty comes to mind.
I recently read that the Dallas Fed placed the total debt (i.e. national debt, unfunded mandates and guarantees) at $99 trillion. Please understand that this is against approximately $2.5 trillion in federal tax receipts. That is a ratio of 39.6 times.
I realize everyone likes to say the US is not as leveraged in relation to GDP as other countries, but that is quickly changing - especially with the size of these numbers.
Ross Perot came across as a corny guy with his pie charts. But he was right in his assessment of the trends.
Anyone who understands finance 101 knows that the current situation is unsustainable.
If you agree, then the real question is, "Why is this being allowed to happen."