The Consequences Of Spending Our Way To Prosperity
By: Doug Busselman, Executive Vice President
I once read the observation, attributed to Sir Winston Churchill, that government spending the economy of a country to prosperity is very much like standing in a bucket, pulling upward on the handle and expecting to lift yourself in the process. That isn’t to say that government spending does not have ramifications. For the time present anyway those consequences appear to be at least on the table for discussion.
The numbers related on the current circumstances are mind-numbing – put into perspective the idea that even the more optimistic forecast will require heavy borrowing by the Treasury Department to cover persistent budget shortfalls, “driving the national debt to 67 percent of the overall economy by 2020.” More than two-thirds of our nation’s economy…wow and double WOW!
It seems doubtful that Congress is going to go for the idea of agreeing to deal with the federal spending matter, believing that this being an even year, divided by two (and no remainder) that the math of votes is more than fiscal responsibility. As is also the case with the ruling party in Nevada, the solution to those in the majority in Washington, D.C. lies in tax increases – “we just gotta do something and taking more of your money would appear to be the best alternative.” Remember, it’s Bush’s fault!
Although an appointed commission to work on the deficit problem will only raise the conversation about the unsustainable spending levels to a little more of a public consciousness, actually doing something to quick digging a deeper hole and heading in a different direction is not going to be easy or quick. Those who do the voting in November are the ones who are going to need to make the first choices – electing responsible representatives who don’t accept government (and irresponsible government spending) as an acceptable end to itself. After sending those who can be fiscally responsible to office we need to stay in touch and on top of the legislative processes.
Ultimately the road out of this mess is going to require actions which translate into meaningful limitations for government excess. The pursuit of more government spending and considering that a greater tax burden should be our civic duty will not accomplish the objectives necessary for the prosperous outcomes we ought to be working to obtain.
I once read the observation, attributed to Sir Winston Churchill, that government spending the economy of a country to prosperity is very much like standing in a bucket, pulling upward on the handle and expecting to lift yourself in the process. That isn’t to say that government spending does not have ramifications. For the time present anyway those consequences appear to be at least on the table for discussion.
The numbers related on the current circumstances are mind-numbing – put into perspective the idea that even the more optimistic forecast will require heavy borrowing by the Treasury Department to cover persistent budget shortfalls, “driving the national debt to 67 percent of the overall economy by 2020.” More than two-thirds of our nation’s economy…wow and double WOW!
It seems doubtful that Congress is going to go for the idea of agreeing to deal with the federal spending matter, believing that this being an even year, divided by two (and no remainder) that the math of votes is more than fiscal responsibility. As is also the case with the ruling party in Nevada, the solution to those in the majority in Washington, D.C. lies in tax increases – “we just gotta do something and taking more of your money would appear to be the best alternative.” Remember, it’s Bush’s fault!
Although an appointed commission to work on the deficit problem will only raise the conversation about the unsustainable spending levels to a little more of a public consciousness, actually doing something to quick digging a deeper hole and heading in a different direction is not going to be easy or quick. Those who do the voting in November are the ones who are going to need to make the first choices – electing responsible representatives who don’t accept government (and irresponsible government spending) as an acceptable end to itself. After sending those who can be fiscally responsible to office we need to stay in touch and on top of the legislative processes.
Ultimately the road out of this mess is going to require actions which translate into meaningful limitations for government excess. The pursuit of more government spending and considering that a greater tax burden should be our civic duty will not accomplish the objectives necessary for the prosperous outcomes we ought to be working to obtain.
Posted by Doug Busselman at 1/26/2010 9:23 AM 
Categories: Economy
Tags: Federal Deficit Election 2010 Government Spending
Categories: Economy
Tags: Federal Deficit Election 2010 Government Spending
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