After months of screwing around rather than dealing with the problem, Congress and the President came to an agreement on the debt ceiling.
It really seemed like all parties involved wanted to ram the good ship USA into an iceberg.
We are now safe from this nonsense until 2025. No election year fake debt ceiling crisis.
Maybe politics can be set aside and I can start writing about the economy without all the BS. Wishful thinking.
Upcoming topics include the FED, GDP, government spending, the budget, and our glorious entitlements.
I say glorious entitlements because they are both glorious and earned entitlements. We pay into the programs and we have a right to the benefits. There is a contract between us and US (in the role of the government).
There will be some unavoidable politics in the budget portion of the program. It will be interesting to see what programs and services will be slashed. Watch them dance.
I wonder if the entitlement known as Congressional pensions will get chopped. How much will the Congressional budget be cut? #EndCongressionalPensions
Choices, choices, choices.
Does anyone really believe that government debt is the biggest problem facing America?
The general stupidity of the officials in Washington is overwhelming.
The debt ceiling problem has been known since the last debt ceiling increase.
The deficit spending problem has been known since it started over 20 years ago.
The spending problem has continued no matter which party had control of the White House, House of Representatives, or Senate.
The debt ceiling needs to be increased to cover appropriations that received bipartisan support.
The debt ceiling must be increased. This is an urgent necessity.
Any choice not to increase it is pure economic stupidity.
Deficit Spending
Yes, getting some control over spending is a fine idea.
However, it is not an urgent necessity. The problem should be addressed as it should have been every year, during budget negotiations.
Where is The Budget?
Creating the Federal budget is literally Congress’s biggest job. Everybody knows this but the budget is never finalized until after the start of the fiscal year.
The government keeps sliding along on continuing resolutions. Why?
Because there is no accountability for a job not done. We can’t immediately fire them for poor performance.
We could stop their paychecks but that would probably require bipartisan legislation. Fat chance.
Spending Cuts
Republicans in the House have been patting themselves on the back for weeks over a strangely named bill that provides a guideline for drastic budgetary cuts. The problem is that there are very few specifics on which programs and services are set to diminish.
This is another bill that has no chance of becoming law.
The House loves to pass bills that have no chance of becoming law. Gives them an excuse to stick in their collective thumb and pull out a plum for the cameras.
What would happen if they stopped the time-wasting sideshows and did their jobs? Maybe something difficult like passing a budget before the beginning of the next fiscal year. What if they were not allowed to go on summer hiatus if there was no budget?
Where are the Taxes?
Current talks only include spending cuts. Why?
If overspending is the greatest threat to our economy, why is there no discussion of raising taxes?
Tax brackets for the rich could be bumped up immediately to raise deficit reducing revenue.
Here’s an effective negotiating stance, a dollar for dollar match between spending cuts and immediate tax increases.
Are these so-called conservatives really committed or is it just political bullshit?
Congressional Budget Cuts
I wonder how much the Congressional budget gets slashed under the spending reduction plan. It is definitely an area of the budget riddled with waste.
I move for the Congressional pension plan to be first on the chopping block. Why encourage them?
Final Thoughts
So much lunacy to cover and so little time.
A reminder to readers. I don’t support either political party. The Republicans just happen to be more wrong this time. Give Democrats the opportunity and they will eagerly sink to the occasion!
