Tuesday, July 29, 2008

Record Deficit ...

which we knew was inevitable. With a big chunk of the electorate desperate for cash handouts - especially of the Medicare and social security type - the runaway spending must continue. Overall taxation in the US is high, and jobs are leaving due to litigation malpractice involving fraudulent disability claims. Meanwhile, the work force is guaranteed to shrink as a percentage of the population due to aging, so this has a major demographic component. Then there is the loan mess which was instigated by the government forcing banks to give out bad loans, or face litigation over racial profiling. Eventually the crap has to hit the fan, which it is doing.

The Left likes to blame the tight fisted US taxpayer and the mythical filthy rich taxpayer who isn't paying her fair share. Good luck on getting Mrs. Kerry to pay up. Some will argue that Clinton was able to balance the budget. Yes, but that was Newt Gingrich's congress holding down the spending while the dot-com boom raged and higher taxes brought in real tax dollars on virtual income. This was a once in a century event. So where to go from here? Downhill. The dialog has not yet begun.

2 comments:

Delirious said...

We will probably trade places with China and Mexico. They will pay us pennies to make their products which they will sell all over the world. We will head to Mexico to do their lawncare...I better get a leaf blower quick before they sell out. ;)

Looney said...

I don't know if we will trade places, but I don't doubt that our politicians are trying!