Mr. President, Step Away from the Plastic

While we’re on the subject of increasing debt, did anyone notice that President Obama’s “deficit reduction plan” is even more piddly than the Republican one we looked at a couple of weeks ago?

Despite pretty tolerant media coverage in which projected cuts over ten years are compared to a single year’s deficit, it’s evident to many observers that the president’s proposed budget does nothing to address the government’s ongoing debt crisis. A mere freeze in domestic discretionary spending does nothing to stop the drive toward national bankruptcy, which is being driven primarily by the big entitlement programs with some help from the defense budget.

As usual, the promised trillion-plus dollars in cuts are back-loaded, to be implemented by Obama’s unfortunate successors, whoever they may be. Of course, they won’t consider themselves bound by Obama’s promises.

People have got to learn that the only cuts that matter are the ones being called for in the next year’s budget. The rest is all smoke and mirrors; it will be a whole new ballgame in budget debates a year from now. The namby-pamby proposals for the coming year will only bring us closer to mass inflation.

About Dr. J

I am Professor of Humanities at Faulkner University, where I chair the Department of Humanities and direct online M.A. and Ph.D. programs based on the Great Books of Western Civilization. I am also Associate Editor of the Journal of Faith and the Academy and a member of the faculty at Liberty Classroom.
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2 Responses to Mr. President, Step Away from the Plastic

  1. worldtake says:

    The problem as I see it is that everybody wants a country, but nobody wants to pay for it. Why don’t we just have all of the states secede and be separate countries? This would make the Tea Baggers happy.
    Or we can reform the taxes, so everybody pays their fair share to pay down the deficit — including the tiny percentage of wealthy that control almost all of our weath. You hear all hoopla from people from all over the country screaming about not wanting any tax increase, until they find out that cuts will effect some entitlement they were used to and then, this particular cut becomes unfair. What a bunch of crap. My daddy taught me when I was knee high, that you don’t get anything unless you pay for it and nothing any good is cheap.
    Just shut up and pay your way.

    • Dr. J says:

      A third option would be to reduce the size of the federal government to the proportion it was in relation to the overall economy for most of the twentieth century. If you look at the government-spending-to-GDP ratios, the last three years are way out of whack compared to the previous 60. And the president’s budget plan has projected increases in government spending far outpacing projected economic growth for the next ten years. There aren’t enough rich people in this country to pay for that. The current deficit is more than double the entire amount of annual savings in the country. Mathematically, there have to be cuts. There is no way around it.

      You are right in that there is all sorts of hypocrisy in the electorate; everyone wants to live at everyone else’s expense. But what everyone will get is big-time inflation if we stay on our present course because the feds will try to print their way out of the deficit problem.

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