I Have a Gripe

February 2, 2010

The Budget, the Deficit and Monopoly Money

Filed under: Uncategorized — alvb1227 @ 3:01 am

By the time I got home tonight, my eye was twitching again. Why you might ask? The latest proposal to come from the White House…the 2011 budget.

President Obama is proposing a mixed bag budget totaling $3.8 trillion dollars. Now, I do agree with the President that the tax payer’s money shouldn’t be spent like “Monopoly money,” but this proposed budget will increase the deficit by $1.56 trillion. Depending on how the budget evens out, and who you believe, this will result in 10% – 25% of ourĀ  GDP will be deficit. Most economists are saying the GDP related to the deficit will be approximately 10.6%. Those same economists say anything above 3% is unsustainable. The President says it will result in approximately 3% of the deficit related to the GDP and will more than likely stay that way for the foreseeable future. If this continues, we will wind up becoming part of China, since they own a large amount of our debt. A perfect example is what is going on with the Taiwan arms sale. Anyone see the issue here?

Now, I’m the first one to admit that I am far from a math scholar, but I don’t understand how you can increase the budget and the deficit and lower the GDP related to the deficit. The White House is talking about making “hard choices,” like the nine million that were cut from the Parks Service. Meanwhile, they boast the biggest budget ever for the EPA, most of which is related to clean energy technologies.

Now this is where I really get annoyed. The President wants to develop a deficit panel to establish a hard plan to control and ultimately reduce the deficit. Republicans rebuffed this idea. When President Bush suggested the same idea, the Democrats rebuffed. I ask…why? This is where I say the President doesn’t need to lecture us like four-year-olds during the State of the Union, but we should be lecturing those in Washington. Why was this idea OK with one side, but not the other and now the same idea reversed?

In my opinion, this is where egos and political parties should be checked at the door. Our Representatives in Washington are supposed to represent all of us, not their party. I am a registered Republican, which is no great secret, and I want to smack them all upside the head like an Italian grandmother would and tell them to wake up! This includes Bob Beckel and Sean Hannity, who I am watching at the moment. Normally I like listening to you two spar because you have thought-provoking, informed opinions. I hate this “well, they did this” and “well when your party was in power, blah, blah, blah.” This back and forth exemplifies exactly what is wrong with Washington.

Didn’t the President just talk about PAYGO (pay as you go) during the State of the Union last week? If the American public can’t pay bills with Monopoly money, neither should the federal government.

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