Subscribe by RSSFact: The Greek debt to GDP ratio is 120%.
Fact: The U.S. debt to GDP ratio is 102%.
Fact: The President’s 10 year budget calls for $1 to $1.5 Trillion in deficits a year, every year based on 3% growth we won’t see.
Fact: It is nearly 1,000 days since the Senate, under Democratic leadership, passed a budget, guaranteeing a series of confrontations over continuing resolutions and debt ceilings.
Fact: Eight years from now, without significant changes, our debt to GDP ratio could easily be well over 200%, at a minimum it will be 204% based on the President’s plan.
Fact: at that rate your dollar will be worth less than half what it’s worth today.
Fact, the Super Committee will fail to reduce the 10 year deficit number by a measly 7%.
These are all symptoms! The failure of the Super Committee is a symptom. Congressional gridlock is a symptom. The relative positions of the parties are symptoms.
The disease is money, and the money is a two way flow! About the only cuts a significant number of elected officials are worried about are cuts to their reelection funding.
The disease is the money we allow into our political system that makes doing the right thing, or some degree of moral clarity a near impossibility. The rest are simply symptoms. The great political thinkers can deconstruct the technicalities of the process to a fare thee well; it’s meaningless. So long as we allow the power of money in the political system it’s all for naught, and the frightening thing is they, the great thinkers, and us common folk all know it. Common knowledge, reported on a continual basis, tort reform is not going to happen because of the money Trial Lawyers invest in the political system. Common sense energy policy will not come to fruition because of the money the environmental lobby brings to the political table: PACs, Super PACs, bundling, Union money, Soros, the Koch brothers, Karl Rove; on and on it goes. There is no good money or bad money; it’s all bad money because its all corrosively corrupting. The cost to us is going to be essential economic collapse. Yes, it can happen here! Pick out a nice comfortable cave now and sock in a stockpile of beans, you’re going to need it.
Money calls the shots. Money also stiffens ideological intransigence.
It is, to us, the great unwashed, in the context of the continual flood of stories about government waste and inefficiencies, beyond comprehension that the Super Committee can find an average of $150 billion a year to cut over a ten year period; incomprehensible that the idea of a simplified tax code that would increase revenue and growth is beyond the pale for our elected representatives because it is the tax code that reflects the corruption of influence more so than any single discipline.
Is it truly beyond rationality that a spending freeze is a bridge to far? Cutting actual dollars is unimaginable for the committee. So far, the only skill the Super Committee has demonstrated is the ability to blather and blame. Anyone, looking at the initial makeup of the committee, who thought it had a snowball’s chance in hell was either a gooney eyed optimist, a comprehensive moron or simply refused to recognize that the personalities on that committee doomed the process to failure. Speaking of doomed; there was never a guarantee that cuts, even were they to have been agreed to, and passed by both houses would have been made to stick. Its legislation and legislation can be superseded; just saying!
Why would anyone think that if Congress as a whole could not reach agreement, the carefully selected ideologues representing the two sides with a fine point would? Smaller is not better if the same attitudes are in place!
Money and influence have made cowards of them all.
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I agree with what you say about money influencing decisions in Washington.However on the other hand I also agree what the Supreme Court ruled that money is representive of free speech.While many industries have lobbying groups in Washington(point of frankness I worked for two Washington lobbying groups in a minor way….transportation and life insurance)many of the organizations we belong to and donate to also have lobbying groups.I’m not speaking of corporations but charities and organizations such as the Red Cross and PTA.We donate time and money to them because we believe in the work they are doing and want them to succeed.Government however made it impossible for them to succeed with the government welfare state and regulation bureaucracy as competition.
I’m not saying let the system stand as it is but simply when you reform it don’t cut off your nose to spite your face.
The perfect arguement for shrinking government.
Wanted to buy UAL today but the stock just sinks. Dow just fluctuates, sometimes big time, with little upside to expect a profit. Yes, that dirty word Profit. Workers wants to be paid but that is good. He’s paid by his skills and ability. Investors put up the time, skills and abilities, and risk money. Maybe losing, breakeven, or lose. But worker gets paid n matter what. The dirty crusades think us capitalist are over compensated. Like 10 in Fannie & Freddie got $$$ 35 million in bonus (hush). Lost $$$ billions and want MORE MONEY to make up for the loss. Bill C. bad housing plan is growing BAD still today… This is another downfall to a better economy.
Bill Gates was in the bottom 99 %. The dude lived the American dream and now in top .00001 %. Gates created how many jobs ??? He created a new universe. Some day another Bill Gates will change our world again. I believe is already in the works. A breakthrough in alternative energy that will shake the universe. Breakthrough that makes carbon energy obsolete in our future. Being cheaper and cleaner. Maybe then we subsides oil (ha-ha). Gas burning cars are outlandishly high as alternative energy cars are now by market not government regulation..
Liberals are a small segnment of Americas population. Don’t expect a lighting bolt to strike them to get them thinking real. They live in a world of their own. When Kerry bought his boat he bought non-American. He parked his boat in another State to save taxes. Kerry fights for his liberalism in Congress but conservative with his OWN money. Would discuss Teddy but let the dead rest in their grave.
Barry did not get Bush tax cuts to rich done by executive order to raise debt ceiling. It took passage by House & Senate. There was need for this, but Reid said no to raising debt ceiling when Democrats OWNED Congress. Reid wanted Republican House, in 2011, to take some of the BLAME. Democrats continue this PUT THE BLAME ON US. Only thing different they stopped the RACIST BULL, for it did not work.
With no change by them since Nov. 2, 2010, expect NASTY to get nastier.
I try to get answer to WHEN HAS TAX INCREASES ON RICH GAVE MORE REVENUE TO GOVERNMENT THAN TAX CUTS. They will answer another question but not that. They must believe tax cuts to rich cost government revenue. Facts be denied…
Investments will be minimum in this barryland. Jobs created on a must do. Germany not willing to bail out and reduce debt to 40 % to socialist Countries. Those bad capitalist Germans. Worse off in America are liberal States like CA. More secure are conservative States like TX. To me there seems to be a theme to this. Liberals you think will see ? America began its slide to crumbles with Bill C., lawyer obama, and Acorn insisting unqualified home buyers be given loans for homes (reason for recession). Bush warned but ignored.
Gents good points all.
If lobbying groups are focused on issue research and developing guidance, which many are, fine, no problem. However, if we want the political class to be focused on issue resolution and the voters as the prime consistuency the money has to come out.
I’m familiar with the Supreme Court decision but the fact is that there are all manner of restrictions on “money as free speech” and the Court did not resolve that issue. So money is free speech sometimes but not other times (see prior article; Money and Free Speech)
IF we’re going to address the root cause of some many of our political disconnects that is the only path I see. I know it’s a long path and I know it’s low probability but; how else to address what we all know is the root cause?