Nowadays, Balancing the Budget is Considered Extremist
Sept 27, 2023 13:14:07 GMT -5
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Post by bjspokanimal on Sept 27, 2023 13:14:07 GMT -5
Anyone who understands finance and economics understands that you balance
budgets by controlling spending. So today, we have just a handful of Republicans
in congress who are insisting that we do so. Everywhere I look in the media,
these congress-persons are considered "ultra-right", or "extremists".
Anyone who has ever led a household knows that when you're deep in debt and
can't make ends meet, you have to control your spending. You can HOPE that your
boss will give you a raise, but spending is what YOU truly control.
The same is true with the government. When the democrats raise taxes, taxpayers
change their behavior. They change how they make money or run to tax shelters.
Sometimes they're content to make less money and shift around their assets. Wealthy
people change their income or operations to more friendly states or to other
countries they operate in. In the end, studies show that no matter WHAT the income
tax rates are, the take reverts to between 18% and 19% of income due to acceptance
or resistance toward what the public believes is fair.
But with spending, when the government cuts spending, the former recipient of that
spending just doesn't get the money, period. There can be some shifting to try to
make up for it, but the "dynanism" involved is minimal compared to the effects of
taxing. Cut spending, and you cut the deficits.
America's national debt is racing past $33 trillion and speeding up, not slowing down.
Less developed 3rd world countries with the debt-to-GDP ratio America now sustains
have experienced catastrophic results. America's industrial prowess keeps things
stable for now, but there's a limit to that and it's fast approaching.
Bottom line; anybody with a brain knows that a day of reckoning is coming. The sooner
we deal with America's out-of-control spending, the better we can manage the fallout.
Wait too long, and we will eventually experience a "crisis of confidence" similar to the
fall of 2008, only far, FAR worse. If we want a future for our Children, the time to deal
with this is Now.
But the only people in congress who are talking like this are a small faction of Republicans
who are regarded as "extremists" by the media and DNC. Being fiscally responsible is
considered "extremism" in today's America. That's why I feel that, as a country, we're,
and especially our children, are doomed.
I blame it on the biggest weakness that's inherent in a "democracy". When the people
have the power, and politicians want to give them what they want, it's always easy to
spend money on the voters to get elected, but it's extremely difficult to tell the voters
that they have to reduce the money they shower on them and the things they want. Now
it's gotten to the point where they're cancelling people's debts to get their votes.
IMO, our only hope as a country is to reverse the public's opinion toward those politicians
who preach spending control and balanced budgets above all else. Do I think that can
happen?... no. Just look at the parabolic history of the national debt and tell me if YOU
think it can happen. So every year, I increase gold's percentage of my investment holdings
up another couple of percentage points.....
..... and tell my children that it'll be bad, but hopefully I'm smart enough that everything
will be all right for them when the day come's that America's crisis of confidence finally hits
with the force of a financial armageddon.
budgets by controlling spending. So today, we have just a handful of Republicans
in congress who are insisting that we do so. Everywhere I look in the media,
these congress-persons are considered "ultra-right", or "extremists".
Anyone who has ever led a household knows that when you're deep in debt and
can't make ends meet, you have to control your spending. You can HOPE that your
boss will give you a raise, but spending is what YOU truly control.
The same is true with the government. When the democrats raise taxes, taxpayers
change their behavior. They change how they make money or run to tax shelters.
Sometimes they're content to make less money and shift around their assets. Wealthy
people change their income or operations to more friendly states or to other
countries they operate in. In the end, studies show that no matter WHAT the income
tax rates are, the take reverts to between 18% and 19% of income due to acceptance
or resistance toward what the public believes is fair.
But with spending, when the government cuts spending, the former recipient of that
spending just doesn't get the money, period. There can be some shifting to try to
make up for it, but the "dynanism" involved is minimal compared to the effects of
taxing. Cut spending, and you cut the deficits.
America's national debt is racing past $33 trillion and speeding up, not slowing down.
Less developed 3rd world countries with the debt-to-GDP ratio America now sustains
have experienced catastrophic results. America's industrial prowess keeps things
stable for now, but there's a limit to that and it's fast approaching.
Bottom line; anybody with a brain knows that a day of reckoning is coming. The sooner
we deal with America's out-of-control spending, the better we can manage the fallout.
Wait too long, and we will eventually experience a "crisis of confidence" similar to the
fall of 2008, only far, FAR worse. If we want a future for our Children, the time to deal
with this is Now.
But the only people in congress who are talking like this are a small faction of Republicans
who are regarded as "extremists" by the media and DNC. Being fiscally responsible is
considered "extremism" in today's America. That's why I feel that, as a country, we're,
and especially our children, are doomed.
I blame it on the biggest weakness that's inherent in a "democracy". When the people
have the power, and politicians want to give them what they want, it's always easy to
spend money on the voters to get elected, but it's extremely difficult to tell the voters
that they have to reduce the money they shower on them and the things they want. Now
it's gotten to the point where they're cancelling people's debts to get their votes.
IMO, our only hope as a country is to reverse the public's opinion toward those politicians
who preach spending control and balanced budgets above all else. Do I think that can
happen?... no. Just look at the parabolic history of the national debt and tell me if YOU
think it can happen. So every year, I increase gold's percentage of my investment holdings
up another couple of percentage points.....
..... and tell my children that it'll be bad, but hopefully I'm smart enough that everything
will be all right for them when the day come's that America's crisis of confidence finally hits
with the force of a financial armageddon.
