A GOLD PLATED CADILLAC SPENDING PLAN
(…using a lot of zeroes for bling…)
The House has managed to cobble together a “bipartisan” budget of 1.1 Trillion dollars, which the Senate is likely to more or less endorse, much to the relief of the White House, thereby avoiding another fight about it…at least for the rest of the current Fiscal Year. Of course, since this is a mid-term election year, we shouldn’t be surprised by this because none of our career politicos want to further agitate an already restive national herd of tax-paying sheep…less they turn into political ass-butting goats instead.
None of that, however, is likely to nudge our collective national will to face up to reality, that is, for the urgent need to come up with common sense measures to get our fiscal affairs in order so that our economic machinery can surge forward to the level that it should be. Its anemic recovery pace to date is a clear indication of our lack of such measures. As we’ve often pointed out before such measures would require putting into place some permanent methods to:
a) Produce a more balanced and equitable revenue generating tax-code between individual and business tax payers.
b) Synchronize the Tax Year schedule with the Fiscal Year schedule to provide better revenue flows to the Treasury, thereby reducing its borrowing needs.
c) Establish a permanent method to progressively reduce our National Debt, while also further accruing bullion assets as collateral offsets against that debt.
d) Establish a permanent policy to –Proportionately- spread any fiscal year deficit across the entire budget, rather than the current practice of only targeting specific elements and programs of it.
Yet, for some reason, neither the Democrats, nor the Republicans, nor even out stalwart Independents seem to believe in, or consider, such common sense approaches to our fiscal problems, preferring to continue with their endless political one-upmanship games with each other instead, to produce what we have today…a gold plated Cadillac spending plan…using a lot of zeroes for bling. So perhaps this budget deal is some kind of progress because at least we won’t be facing any more government shutdowns and other politically motivated nonsense for the immediate future (although we can’t help but wonder what happens after the end of this Fiscal Year).
Well, there’s only one problem with this kind ostrich-head-in-the-sand posture…that posture invites the butt-end to eventually get…the shaft.
CENTURION