Philosophical Musings

Philosophical Musings

Sunday, February 3, 2013

Govt Spending & Debt

Increase in public debt:

bush-- $4T in 8 yrs.. $.5T/yr with massive costs in illegal wars

obama-- $5.3T in 4 yrs.. $1.325T/yr and growing every year, even with the reduction of the wars.

I thought bush was a big spending liberal, with many liberal social issues driving his ideology.  He was more of a 'classic' liberal, not like the 'progressive' ones that are more prevalent today, but his fiscal policies were still pretty liberal, imo.

But compared to Obama, bush was a fiscal conservative! O makes all of the 'tax & spend' liberals look like stingy misers. It seems to me his agenda is more in line with cloward/piven, rather than real compassion for the poor. O is a statist & anti american ideologue. His fiscal policies are building the currency bubble, destroying the middle class, & killing the economy. Other than that, he's ok.

The very fact that 'the electorate' did not address this issue in the last election is a big indicator of the irresponsibility & delusion of the american people. We vote for the gravy train, & hope it will keep running, without fuel, without tracks, & without box cars.

No, the fiscal irresponsibility of the current administration, along with the increased levels of spending in previous administrations, will be the downfall of america, as it has been in every nation in history. Instead of having representatives who care for the country, & want to fix our REAL problems of spending, they obscure, deflect, distort, & deceive. They & their media elite co-conspirators promote propaganda, rather than truth to the people. Their apparent goal of the collapse of america inches closer to reality every day.

It would be good to differentiate between local govt 'services' like fire, police, etc, & federal govt expansion & debt building. Local services are paid for by taxes.. directly. There is no deficit spending, but they must have a balanced budget. If a govt official came up with a cool program that required a massive tax increase, the taxpayers would howl & vote that guy out of office. But our fed politicians are too crafty. Instead of telling us we need to cough up another +$1T a year, they just borrow it. It looks like we get the program for free, but in fact, we just put it on the shoulders of our children. That is despicable & unconscionable. Instead of re-electing these clowns, we should be dragging out the guillotines.

I've got no problem with govt providing useful services, as long as they pay for them up front, & are honest about the costs.  What is most insidious about deficit spending, is it is like taxing without taxing. The govt obligates us to pay for their stupid projects, which if we had to pay up front for, we would revolt. The politicians know this, so just spend without raising the taxes. This is an attempt to 'have cake & eat it too', philosophy, which is very popular with the progressive left. Some are deluded, & think the gravy train can just keep running. Other have a more sinister agenda.. the 'cloward/piven' strategy or other such plan.

The bottom line is that the spending is unsustainable, & will bankrupt the nation, as it always does. IF we required the politicians to raise the revenues before they could spend, that would curtail it a lot. Not many politicians would want to face their constituents with steep tax hikes for illegal wars, redistribution, or massive govt expansion.

The left seens to believe all there is to money is a printing press. You just print it, & it has value.. kind of like 'Field of Dreams' economics. 'If you print it, it will spend'.

What on earth makes this believable? Wishful thinking?  Unicorns & magic rainbows? The combined gdp & QE & the mythical production numbers are a pyramid scheme. The gdp is propped up with borrowed money, massive deficit spending, & dumping more printed money into circulation at a cheap rate, so govts & mega corporations can keep skimming off the top, like good little ponzi operators. It will collapse.. mark my word. The basic structure is flawed, & anyone with any sense can see it. The voodoo economists use smoke & mirrors to obscure reality, not reveal it.

The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. ~John Kenneth Galbraith

Most of the 'wealth' created today is by money shufflers, not actual producers of anything. Our politicians have created an environment where speculators & gamblers make huge profits without doing anything. While business struggle to compete in the markets, & people deal with a shrinking job market & reduced income, the politicians & their corporate cronies are skimming from the public treasury, passing around huge sums of fiat money, & each taking a percentage to fatten themselves. They increase their wealth by public policy & financial decisions.. bailouts, grants, loans, juicy czar appointments, etc. Instead of re-electing these clowns, we should be oiling up the guillotines. They are destroying the middle class, the currency, & the basic structure of the american economy with their misguided social engineering agendas. They are redistributing, but most is going to political hacks, not the poor they claim to agonize over.

The biggest problem is an uninformed electorate. Our voters are not very wise, & are easily deluded by fast talking scam artists.

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