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If only I could be the government

It’s tough around here. I’ve picked up some expenses, with a new house two years ago, a child last year, some unexpected maintenance this past year, and now some inflation. Yet, I manage to keep the household above water. I do this in spite of lacking two things that certainly would help:

  • The ability to force involuntary payment to me.
  • The ability to print money
The state of Illinois can do the first, and the federal government can do both. With both governments facing an explosion of entitlement spending soon — and already huge debts — our executive leadership has opted to force me to pay more.
So I go my merry way making changes in the way we spend money. We cut back where we can and we have no choice but for it to be enough. Making more money is attractive, but it’s never guaranteed. The only thing you can really guarantee is how much you spend.
And so it goes with tax receipts. We raise taxes and project what economic activity (which more taxation will necessarily discourage) will generate what income. And then we hope the projections pan out. Meanwhile, we haven’t done anything to confront two of our largest economic problems: productivity and inflation.
This year, Paul Ryan came up with a serious budget plan that contains serious spending cuts. These are hard choices as they will affect more than half the electorate. President Obama responded with an unserious speech that seeks to bring income taxes last seen more than a decade ago.
Whose budget will be more successful?

6 Comments

  1. Paul Ryan wants to cut seniors out. Obama was right, Bush bankrupt the country by his illegal wars.

  2. Paul Ryan wants to cut seniors out. Obama was right, Bush bankrupted the country by his illegal wars.

  3. T.J. Brown says:

    Paul Ryan is offering something which is better than promising the moon and realizing “Oh shit, we have no money! And the greenbacks you have are worth nothing!”

    Obama could have shown some courage and adopted some of the suggestions from the Bowles-Simpson Commission, which would have widened the tax base by eliminating deductions and lowering overall rates (Thus, GE would get to pay taxes.) Alas, he offers nothing except rhetoric reserved for the campaign trail.

    And to which “illegal” war are you referring? Afghanistan (which was supported by an overwhelming majority in Congress, NATO and the UN)? Iraq (which was supported by our Western allies minus Germany and France as well as by a solid majority of Congress)? Or Libya?

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