Budget – will it go up, or down. Here in NH, like most states, the budget HAS to be balanced. During the last 2 legislative sessions, the Dems pushed spending up 25%, using a bunch of accounting gimmickry and taking advantage of the mean trick on the backs of our grandkids by accepting "free Federal money" to help support that spending frenzy. Well, the bill came due and the Republicans in Concord have done the adult thing and said "no mas" to that unsupportable amount of spending.
Problem still remains: that of the Federal Govt. There, the Dems have held sway and true to form, they just threw not dollar bills into the air, but thousand-dollar bills into the air, thinking "there, great governance on our part". Yeah, Hope on a massive scale. What’s it gonna give us if nothing is done? Yeah, massive debt, as seen by this chart:
The right side of the chart? If we leave the current spending by Obama and his merry band of Progressive / Marxist / Socialist cohorts alone, that’s where we end up -> a bigger version of Greece. Same result, however, less spending and more hurt. That’s what happens when children-politicians decide to no longer delay self-gratification (or in this case instant gratification of their sycophant unions that keep them in power). As any family knows, spend beyond a certain point, and all the family income goes to debt service – it DOES affect the things that a family can then do (trust me, when TMEW became ill and I had to shut our small biz down, I know what it is like).
That green part? Congressman Paul Ryan’s blueprint for a more adult way of…
…looking at how government will be funded and what it will do.
Sure – there will be MANY sucking at the teat of government will be OUTRAGED, OUTRAGED I TELL YOU! Well, like that old Fram oil filter said ("you can pay me now, or you can pay me later", meaning spend for the filter now or a new engine later), we ignored the "dial it back now" for "have to dial it WAY back later".
Many on the Left have "pedaled to the metal" while they’ve had the chance, hoping that they could cross that nexus point where the gimme crowd (including Gramps & Grammy on SS and Medicare, the farmers with the ethanol, the welfare society with the free everything) would win out because they have become so accustomed to the giveaways that they’d never be revoked.
Problem is, it WILL be revoked. Either by the adults in the halls of Congress or by the bond markets. One way or another, the haircuts must happen. We can dial it all back now in a semi-controlled way or it will come to a screeching halt.
Pain and suffering with the former – REALLY bad stuff with the latter.
(H/T: Wall Street Journal)
