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Our Budgetary Death Spiral: As Rome Burns, U.S. Leaders Pat Themselves on the Back

The day after, even with the rose-colored glasses on, it still doesn’t it look any better.

Late last night, the GOP-held House of Representatives negotiated a deal with Harry Reid and President Obama to shave $39.5 billion from the federal budget.

“We have agreed to an historic amount of cuts for the remainder of this fiscal year, as well as a short-term bridge that will give us time to avoid a shutdown while we get that agreement through both houses and to the President,” said Boehner and Senate Majority Leader Harry Reid in a joint statement.

Really? A historic amount of cuts from historic spending is really nothing to be proud of.  Here we have a Commander in Chief willing to sacrifice American troops’ pay—arguably the only people the government should be concerned about paying—to ensure abortions would be funded while America’s treasury burns through $10 billion per day.

Unfortunately, very soon, it may all be too little too late. Moreover

While Rome burns, sycophants like Harry Reid tweets this out:

GOP wants to shut down our nation’s government because they want to make it harder for women to get the health services they need.

Now, while John Boehner, Harry Reid and Barack Obama all pat themselves on the back for the “tough” negotiations, the U.S. burned through $54 billion in the eight days before the deal to cut $39 billion was reached. Mark Levin sees the whole budget deal as a historic scam, and he is likely right.

America is on a budgetary death spiral, as Richard Fisher, the President & CEO of the Federal Reserve Bank of Dallas, noted on Friday:

There cannot be robust direct investment in the United States without confidence in the nation’s ability to reverse its budgetary death spiral, especially the inexorable accumulation of national debt and unfunded liabilities of Medicare and Social Security. The need to break the back of that spiral is as dire now as was the need for Paul Volcker to break the back of inflation in the 1980s. Those who are leading the charge to restore fiscal sanity, be they Republican or Democrat, will no doubt recall the personal vitriol hurled at the then-Fed chairman; they should steel themselves against it. They should remember that, as a result of his steadfast determination to press on with exorcising inflation, Mr. Volcker is today among the most respected living Americans and widely considered an exemplar for public servants worldwide.

In Washington, there are many that understand the dire straits the nation, but too few who are willing to swim against a torrent of Democrats and their masters’ demagoguery.

A few, like Paul Ryan, are trying. But, again, it may be too little too late.

The facts are these: Washington has not been telling you the truth about the magnitude of the problems we are facing.

Unless we act soon, government spending on health and retirement programs will crowd out spending on everything else, including national security. It will literally take every cent of every federal tax dollar just to pay for these programs.

The non-partisan experts have been clear about what this means:

Each day that Congress fails to act, the government takes one step closer to breaking its promises to current retirees.

Each year that policymakers kick this can down the road means trillions of dollars in empty promises are being made to future generations.

If we stay on the current path, we are heading toward a debt-fueled economic crisis –- meaning massive tax increases, sudden cuts to vital programs, runaway inflation, or all three.

While issues like funding NPR, Planned Parenthood or any other program are as important now as they will be in the long run, America is facing an existential threat to its very survival now.

Politicians using scalpels to trim a budget when broadswords are what are really needed does nothing but prolong the inevitable for a few more days.

_________________

“I bring reason to your ears, and, in language as plain as ABC, hold up truth to your eyes.” Thomas Paine, December 23, 1776

X-posted.

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5 COMMENTS

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5 COMMENTS

  1. Right you are, LUR. When the Left sees the “Bridge is out Sign” they slow to 55. If our side only slows to 35, well I can’t see the profit in that.

    It’s a leap of faith that they know what thw GOP is doing, yet, there is that nagging doubt, which even the best of them deserve. Still, we can’t run, we can’t hide, and we can’t anoint ourselves king. So we stay and fight, and cajole, and try to find a leader who can count and chew bubble gum at the same time. And we pray, if you’re of the praying kind. (I never pray for miracles but I do for my country.)

    In the end, since we ain’t going anywhere, since Rush Limbaugh already bought all the getaways in NZ, we stay and fight…until they pull the Constitution from our cold dead fingers.

    Right?

    • VB et al, I may be moving to a position more focused on 2012 than trying to use the power we have now to put out the fire.

      My desire for bold action early and often is because I don’t think we can avoid a second financial crisis absent bold conservative changes in the law and budget.

      But given the odds of doing that now and since I doubt we can avert the crisis anyway, maybe it is best to employ a strategy more like what we have seen so far.

      Stil thinking…

  2. I liken what happened last night with Boehner to an Antietam for the Union Army. For the first time the Repubs didnt get driven off the field. They demonstrated some staying power for a tactical draw yielding limited strategic victory for the Repubs. Why? Everyone knew they came to get some cuts. The ground has shifted momentarily underneath everyone. The American public, before it loses hope in everything – which it may soon – for a brief shining moment believes the national debt problem must be solved worse than entitlements preserved. . Which means it will be Boehner’s opponents who will withdraw off now to prepared defensive positions. It will now dawn on the Repubs “uh-oh, to win this whole War we must now get up and take the fight to our opponents…. on their ground.” To follow this Civil War analogy to its fulsome conclusion, the Union Army did do that eventually – after changing leadership and adopting a “total war” philopsophy, though. Hmmmm (?).

  3. That bright light near the end of the tunnel coming headlong at you isn’t just a mere taxpayer-funded never-to-be-built-but-union-made-anyway pseudo-green high-speed-rail train.

    A few people ‘in the know’ won’t let anyone anywhere use some dynamite at the exit of the tunnel to try and block it and it’s way too far in from the entrance to try use the comm systems ordering it to stop and back it up before it emerges.

    Gee…… Some folks might say I’m tryin’ to make a point the hard way.

    Not really.

    I’m just tryin’ out the new tone and civility.

    Kenny Solomon
    Israel Survival Updates
    The American Survival Guide

  1. Right you are, LUR. When the Left sees the “Bridge is out Sign” they slow to 55. If our side only slows to 35, well I can’t see the profit in that.

    It’s a leap of faith that they know what thw GOP is doing, yet, there is that nagging doubt, which even the best of them deserve. Still, we can’t run, we can’t hide, and we can’t anoint ourselves king. So we stay and fight, and cajole, and try to find a leader who can count and chew bubble gum at the same time. And we pray, if you’re of the praying kind. (I never pray for miracles but I do for my country.)

    In the end, since we ain’t going anywhere, since Rush Limbaugh already bought all the getaways in NZ, we stay and fight…until they pull the Constitution from our cold dead fingers.

    Right?

    • VB et al, I may be moving to a position more focused on 2012 than trying to use the power we have now to put out the fire.

      My desire for bold action early and often is because I don’t think we can avoid a second financial crisis absent bold conservative changes in the law and budget.

      But given the odds of doing that now and since I doubt we can avert the crisis anyway, maybe it is best to employ a strategy more like what we have seen so far.

      Stil thinking…

  2. I liken what happened last night with Boehner to an Antietam for the Union Army. For the first time the Repubs didnt get driven off the field. They demonstrated some staying power for a tactical draw yielding limited strategic victory for the Repubs. Why? Everyone knew they came to get some cuts. The ground has shifted momentarily underneath everyone. The American public, before it loses hope in everything – which it may soon – for a brief shining moment believes the national debt problem must be solved worse than entitlements preserved. . Which means it will be Boehner’s opponents who will withdraw off now to prepared defensive positions. It will now dawn on the Repubs “uh-oh, to win this whole War we must now get up and take the fight to our opponents…. on their ground.” To follow this Civil War analogy to its fulsome conclusion, the Union Army did do that eventually – after changing leadership and adopting a “total war” philopsophy, though. Hmmmm (?).

  3. That bright light near the end of the tunnel coming headlong at you isn’t just a mere taxpayer-funded never-to-be-built-but-union-made-anyway pseudo-green high-speed-rail train.

    A few people ‘in the know’ won’t let anyone anywhere use some dynamite at the exit of the tunnel to try and block it and it’s way too far in from the entrance to try use the comm systems ordering it to stop and back it up before it emerges.

    Gee…… Some folks might say I’m tryin’ to make a point the hard way.

    Not really.

    I’m just tryin’ out the new tone and civility.

    Kenny Solomon
    Israel Survival Updates
    The American Survival Guide

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