BETWEEN THE LINES: Getting consensus not an enviable task
It is well documented that addictions are hard to break. The federal government is not exempt from this malady, especially since the money they spend is not theirs.
The power to dole out dollars to constituents, who in turn make campaign contributions, is quite an aphrodisiac. As Lord Acton so truthfully said: “Power corrupts, absolute power corrupts absolutely.” To politicians, the public good becomes a catch-all phrase. Any expense in one way or another can be justified. It is why reducing government spending on things such as national defense becomes problematic. Answering questions like, “Where is our military presence needed in order to ensure our safety?” are ignored. Consequently, it is much easier to continue existing policies, as flawed as they might be, rather than to curtail them so as not to disrupt the symbiotic relationships that have existed for decades.
Most Democrats want Social Security and Medicare off the table, while the Republicans feel the same about defense spending. As they say, beauty is in the eye of the beholder. Negotiating when both sides are reluctant to concede any ground typically requires a negotiator, or enough pressure by the voters to force the issue. Few governmental policies bring forth any real consensus in an electorate that is so politically polarized.
It is obvious to most Americans our nation is spending beyond its means, and that continuing to increase the debt limit provides no long-term solution to our dilemma. The economic prosperity America enjoyed after World War II has slowly evaporated. Our debt-to-Gross-National-Product ratio is reaching dangerous levels. Yet the insanity continues on Capitol Hill. Just last week, President Barack Obama pledged $20 billion in foreign aid for Arab states. It is getting to the point that politicians do believe money grows on trees.
As sands continue to sift through the hourglass, we are inundated with lies and half-truths. Secretary of the Treasury Timothy Geithner falsely tells Congress failure to raise the debt ceiling will cause the United States to default on our debt. The facts are, the interest on our debt amounts to $41 billion a month while our tax revenues are $180 billion a month. The interest on our debt amounts to 12 percent of our national budget.
When will the American public begin to ignore politicians who use scare tactics and cry wolf? It is high time to disregard the “too-big-to-fail” rhetoric our leaders espouse all too often. It is far easier to spend additional monies than to make the tough decisions to cut back on programs that have been well entrenched.
With almost $15 trillion in debt, it might be a good time to start spending what we take in as revenue and begin doing what the average American family does, namely balance its budget. The Federal Reserve’s response to our economic downturn has been referred to as "quantitative easing," a fancy phrase that translates to creating money out of thin air, and transferring such consequences as inflation to future generations.
If things do not improve, look for our nation’s central bankers, spearheaded by their fearless leader Ben Bernanke, to soon commence Round 3 as the Dow Jones continues to plummet. The Fed seems to operate under the simple principle that if at first you don’t succeed, try, try again.
As we will soon learn, the house of cards is about to come tumbling down. Smoke and mirrors have no staying power. Ultimately, reality sets in, and one suffers the consequences of actions taken.
There will be no resolution of the significant problems in our country until we return our trust to God instead of the federal government. A student of history would know that is how this country started out, and it resulted in making the United States the greatest country in the world.
Laughlin is a Christian Libertarian. He is an economist, teacher, father, husband and most recently a grandfather. He has written a weekly column for The Tribune for 12 years. He and his wife Gina reside in Meadowlakes. To contact him, email ablaughlin@nctv.com. He is an independent columnist, not a staff member, and his views do not necessarily reflect those of The Tribune or its parent company.