Friday, July 15, 2011

When Will We Stop Raising The Debt Ceiling?

 In response to the Washington Post article "Break the spend-and-borrow cycle" olddesert_rat responded with the following:

"We must raise the debt ceiling, and also craft a sound plan to cut spending over a measured period of time so that essential programs are left to operate and meet the needs of our citizens. Greater measures need to be put into this plan, in order to curb the waste, fraud, and abuses which contribute so much to the excessive costs."

My apologies to olddesert_rat, but this is the repetition of the same old empty rhetoric that we have been endlessly hearing from the politicians for many years. At what point do you finally say enough with empty rhetoric? Take a look at the graph below.  What do you see?

The graphic above is from the Washington Post.

But there is also a deeper question concerning the seemingly perpetual increases in the debt limit. That is where is the increased spending going?  Is it going towards legitimate programs that require increased funding or is it going to "Bread and Circus" largess to "buy" votes?

I don't know.

What I can say is;  in the year 2000 total Federal government spending amounted to $1,789 Billion. For 2011 the projected spending is estimated to total $3,818 billion. An increase of 213%. Conceptually, as a casual observation, the scope and functions of government are obviously being enlarged. The money has to be going somewhere. Much like the hypothetical decision to buy a  $38,189 instead of a $17,890 car.  Clearly you do NOT have to buy the more expensive car, you could settle for a $20,000 for example. Those who perpetually bellyache for an increase in the debt limit do not seem to consider that proposed increased spending may not even be justified.   

Concerning my response to "Break the spend-and-borrow cycle":
"The obvious question, where was the pledge for fiscal responsibility under (Blame) Bush? 

Why no mention of a rational tax structure by Perry and Haley? We do have to pay (fund) government services.

Regretfully, this letter is simply another example, of an endless number of examples of, empty rhetoric. At some later date (when politically expedient) both Perry and Haley, will repeat Obama's infamous assertion concerning fiscal responsibility: "I now regret that decision.

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