Fact: 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.