The difference between the amount of money that the federal government took in and the amount it has spent since the current fiscal year began on October 1. That's a record deficit - for a whole year - in just five months! The prior record was "only" $454.8 billion. And President Obama is projecting a $1.75 TRILLION deficit this year. That's more than double - DOUBLE - the prior record. (Link to story here.)Yet what do we hear out of Washington? Tighten the government's belt? Cut back on unnecessary spending?
Not a chance. Instead, Congress passed and Obama is ready to sign a $410 billion spending bill even though it contains 7,991 earmarks representing $5.5 billion in spending and, no doubt, tens of billions of dollars in additional pork. (Link to story here.)
Enough already. I know that it is silly to expect our government to spend within its means but wouldn't it be nice to see them try to cut back a little bit?
1 comment:
Here's the problem: no matter what the project is, no matter how outrageous it seems, to someone, somewhere, it's economic stimulus.
A "bridge to nowhere" isn't a bridge to nowhere for the people who live at the other end, nor to the employees of the company who gets to build it.
A Congressman or Senator supports a project because it will help *their* constituants (and in turn, their re-election funds).
As long as there are representatives of distinct districts, there will be "pork".
I agree with Congressman Paul that we should cut out Fedral payrol taxes. The Fedral government should primarly focus on the common defense of the nation and national interests, and let the states handle everything that lies within their boarders. The Fedral government taxes the state governments based some formula of population and area and only up to what it needs to maintain the national interests. Let the states determin their own way to come up with the tax and fund their own projects.
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