Congratulations Obama, Pelosi, and the Democrat Senate. . . We now have the most efficient government in the history of governments. Not a single dime has been wasted, not a single dollar misspent, and not a single entitlement promised imprudently. At least, that’s the message the former speaker of the House, Nancy Pelosi (D- Republic of California), conveyed to Candy Crowley in a recent interview.
When asked about President Obama’s inexplicable refusal to negotiate a deficit reduction deal in exchange for an increase in the National Credit Limit, Pelosi said the problem is there is nothing left to cut:
So, the President’s non-negotiable obstinacy on the debt ceiling is actually rooted in fiscal reality. Apparently, according to the brightest mind that San Francisco Democrats have to offer, we’re out of trim-able expenses in the Federal budget.
A first for governments around the world.
And, really, Pelosi’s comments make perfect sense. It’s only logical that government spends a million dollars to study the “sexual attractiveness” of fruit flies. It’s only prudent that government pay out $2 billion to farmers for not farming land. And, of course, it is only logical that the government shell out $500 million on a program that would, among other things, try to figure out why five-year-olds “can’t sit still” in a kindergarten classroom. (Um. . . Because they’re five. Can I have my $500 million now?)
And yes. . . Those are all real government expenses. Furthermore, according to Pelosi, they are part of government’s current fiscal restraint.
The Congresswoman’s ridiculous claim that the government cupboard is bare, is like saying that Warren Buffet is on the verge of poverty. Aside from the millions in wasted funds, redundant programs, and ill-advised government expenditures, we have the capability of reducing future payments by reforming various entitlement programs.
The truth is Government is far from running on the skinny. But even if we are to ignore the misspent dollars of today, it is either congressional malpractice or national suicide to ignore the mounting debts of tomorrow. Both the President, and government loving Keynesians like Pelosi have suggested that raising the debt ceiling is merely a matter of meeting the financial obligations we have already put in place. If this is true, we should look at the largest future expenditure of government funds: entitlement programs.
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Wednesday April 16th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Tuesday April 15th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Monday April 14th, 2014 | John Ransom