I have a huge balance on my credit cards, my monthly payment is eating me alive with just the interest, and I am going backwards. But, back a few years ago I was just the opposite I was quite prudent and rather than use my credit I cut back and I actually saved a little, so what is the problem now, I’m just catching up for those lean years of spending, it all works out in the end.
So, all of the above is pure fantasy, but as ridicules as the above logic is, it appears to be good enough to justify more and more deficit spending by Congress. The national debt will soon go over the $12.1 trillion dollar mark. I remember back in grammar school (only a million years ago) we used to make fun of that word trillion, who would ever use it?
According to the New York Times, Republicans continued to attack the level of spending, but Democrats said that the measure provided need support for programs such as those serving veterans. The vote for the huge spending bill, which actually totals more than $1 trillion when required spending for social programs is added in, left one spending bill remaining – a $600 billion Pentagon measure that Democrats hope to use to carry along some of the more contentious remaining items
Ah, more spending and a crafty strategy to get it all approved, now that’s the kind of thinking we need. Oh yes, another trillion plus or minus a few billion for health care “reform” should wrap up the year nicely.
And, from Politico: Democrats will argue that in many cases they are only catching up for what they saw as a lack of public investment in the Bush years. But Republicans counter that agencies like the Environmental Protection Agency are awash in cash given the infusion of billions for clean water projects. And quite apart from the stimulus, total domestic discretionary spending is up about 9 percent since 2008 — growing at double the rate of inflation.
Umm, no doubt your spending and income are up nine percent in the last year, especially with that whopping increase in Social Security benefits in 2010. Oh, wait, inflation is so low there is no increase in Social Security next year. How is it that government agencies need 9% more than? They must be using the same budget and accounting consultants as colleges and health care providers.
Does it really matter what the money is needed for, if you don’t have it you can’t spend it…or so I thoguht, but what do I know. John Maynard, would you go over it one more time? [picapp align=”left” wrap=”false” link=”term=john+maynard+keynes&iid=2946553″ src=”d/1/2/b/PicImg_Keynes_Has_Plan_355d.jpg?adImageId=8289909&imageId=2946553″ width=”420″ height=”540″ /]