Saturday, March 19, 2011
If the Democrats in Congress are smart, they'll throw him under the bus and start working with the Repubs to solve the budget, debt and policy problems that are rapidly heading toward becoming an existential threat to our Republic. (Not that I have any hope for the likes of Reid and Pelosi.) This process has to be bipartisan, because if it's not, neither side will have the political courage to push what needs to be done to bring spending under control and allow the economy to reenergize itself. A cheap way to start would be to kill Cap 'n' Tax once and for all, get rid of Elizabeth Warren and her Consumer Financial Protection Bureau and generally get out of the business of regulating everything at the Federal level. States need to have more power to manage their own affairs, because most of them are on the verge of going broke.
In order to have a zero-debt national budget, spending would have to be cut by at least 30 percent, and if you believe the Wikipedia article, more like 40 percent in FY 2012. That's on the order of a $1.5 trillion reduction in spending, yet Congress is wasting time and perfectly good oxygen arguing over whether to cut $6 billion (Dems) or $60 billion (Repubs) from spending in the current fiscal year. Let's use $50 billion as a compromise--let's see, that's 5 followed by 10 zeros divided by 15 followed by 11 zeros--canceling zeros ... 5 over 150 equals 3 and 1/3 percent, or .0333 of what needs to be cut in order to stop the national debt from growing. And Harry Reid and his buddies talk about "draconian" cuts proposed by the Repubs. Idiots! We need to get rid of whole departments!
Not that there's a shortage of idiocy floating around. The MSM won't report this because they're ideologically in bed with the Reids and Pelosis of the world, so voters, who have a vague idea that we have too much debt and are adding to it at the rate of some $4 billion a day, still don't grasp either the magnitude of the problem or how close we are to crashing. I know austerity is painful, but not as painful as a total fiscal collapse of the country.
All I can say is that our political class better start growing some cojones or we'll all be dumpster diving for dinner before we know it, because the crash will make the Great Depression seem like a kindergarten picnic.