October 1, 2011
Earlier this year, we heard a lot of hoopla about the huge “spending cuts” our Congress and President were proposing. When I looked into it, my gizzard was stirred, and I wanted to write, but life intervenes, doesn’t it?
I have time now.
Why is it that when we hear pontification out of DC about spending cuts, that to which they refer is not a spending cut at all, but a reduction in the formerly proposed rate of increase? In other words, “We were proposing to grab more money at a rate of 6% over last year, but now it’s only 5%. Cheers everybody! It’s a spending cut!”
Congressional pats on the back all around, please.
The “spending cut” that was rolled out to the nation earlier this year in somber, grandiose tones, was $38 billion. To you and me, that sounds stupendous. Finally, they are doing something about this preposterous profligacy. Finally.
Wait a minute. The budget at that time was 3.5 trillion.
The interest on our debt was essentially the same figure: 3.5 trillion.
I emphasize: trillion.
The interest on that debt would take our entire annual budget. The debt would still be hanging on our necks (although “debt” itself is a deceptive term). Plus, we’d have no cash. For anything.
What fraction of the proposed budget of 3.5 trillion is the Greatest Spending Cut in History of $38 billion? It’s 1%. And we heard that it’s the “largest cut in history”? What does that say about the way our Congress views responsible use of money? This is not to mention that the “cut” was only a reduction in the size of the increase they had in mind.
The 111th Congress added more debt in their 2 years of infamous existence than the first 100 Congresses did. That is: all put together.
(They even outdid the 110th Congress by more than double, which until then had held the ignominious record. I bet they aren’t happy about being eclipsed so soon.)
Two-hundred years of debt accumulation outdone in a mere 24 months! How proud of themselves they must have been for such a staggering accomplishment. All for the Good of The People, of course.
And this midget 1% cut is historic?
Taken in perspective, it’s kind of like planting a sapling after having burned all the forests west of the Mississippi.
[Image via MorgueFile]