This is so true. Yet we can’t keep ourselves from spending. The slightest proposed cut to government elicits howls of pain and anguish. We can’t cut Defense. We can’t cut Social Security. We can’t cut Medicaid or Medicare. And we can’t cut subsidies to farmers, or “homeland security” or get rid of any of the agencies. We can’t cut anything.
And we have this giant debt to show for our spendthrift ways. That’s not good.
But what’s that you say? Both Dick Cheney and Paul Krugman say debt and deficits don’t matter? Are you serious? Well hell, lets do Obamacare too. What’s next? Pyramids? OK. How about a hypertube through the middle of the Earth straight to China. Think of the jobs. And since there are no consequences to running up these giant deficits let’s pay each of the engineers on the project $3 million per year. Then let’s give them half the year off to spend the money on boats and Virgin Galactic flights. More jobs!
Something (everything) for nothing is a recipe for prosperity! This is easy.
(From The Washington Times)
As we listen to the budget battles among the political class over the next few weeks, it is important to keep in mind that federal spending is at record levels in nominal terms and near the all-time high as a percentage of gross domestic product (GDP), except during World War II. During the second Clinton administration, federal spending was about 20 percent lower as a percentage of GDP than it is now. Yet I do not recall starvation among the American people, nor the acutely ill being thrown out of hospitals because they could not pay, nor children not finding schools to attend. It did not happen, nor did it happen from the end of the Civil War until World War I, when federal spending was only about 3 percent of GDP, in contrast to today’s 22 percent..