“We know the American
people only have us to depend on” –Senator Harry Reid
Despite the austerity measures being taken in Europe, the
United States Congress continues to go its own way by spending, printing as
much money, and creating as much debt as it possibly can. From what I’ve gathered, government waste and
spending cuts have been talked about by our federal officials, but little to no
action has been taken. If the readership
can find measurable budgetary and fiscal restraint, I invite those to be
shared.
While we are talking about action, let’s discuss the actions
this administration has taken when it comes to fiscal discipline. First, the
Obama Administration used the G-20 in Toronto to pressure its large trade and
economic partners to “continue some type of simulative spending” in order to
avoid a “Hoover moment.” My only
question here would be if the same advice should be given to countries like
Greece, Spain, and Argentina who clearly do not have the ability to spend more
money.
A great
article in the Wall Street Journal’s Opinion section outlines how the
Keynesian movement around the world is losing tremendous steam.
Recently, a spending
push in Congress failed as Democrats tried to keep the printing presses
open. A part of the spending bill that
failed was $24 billion in aid to states who were struggling to deal with the
increased healthcare costs as a result of the passage of Obamacaid. I enjoy how Senator Durbin (D-IL) stated “They said yes to the special interest
groups they always stand by.” I
guess the American people are now a “special interest group.” This illustrates how out of touch the
Congressional leadership is.
What I found even funnier in the same article were the
comments of Harry Reid. “We know the American people only have us to
depend on,” he stated. There you
have it; the American people out there who are feeling the pain of the current
recession can find their saving graces in only one source, the federal
government.
Is anyone else’s skin crawling from that statement? Mine is.
