Wednesday, June 30, 2010

I Can't Be Out of Money, I Still Have Checks Left

Congress is working on appropriating $30 billion for the Afghanistan War to pay for the coming surge. The hold up is that Democrats are pushing for billions of dollars to give to school boards around the country to save teachers jobs while the Republicans are saying they want a clean bill for strictly the war.

This administration and this congress have thrown money everywhere. They've bailed out banks, financial institutions, car companies, fannie mae and freddie mac (which needs another $1 Trillion), as well as giving money to massage parlors, strip clubs, prison inmates and more. They haven't worried about it because they have control of the printing presses and can make more money. Not earn, but make.

But the Democrats aren't worried. After all, the Bush tax cuts, which produced the largest growth in the economy in 25 years, are about to expire on December 31, 2010. So beginning January 1, 2011 everyone's taxes will increase. They think that they'll collect more money because of those tax increases. What they will do instead is plunge us into another recession, the so-called "double dip" recession. Tax revenues, which set records for income following the tax cuts, will decrease. Unemployment will increase. Bankruptcies will increase over the record levels they are setting this year. The need for people to be dependent on welfare will increase.

We can no longer afford the spending that this Congress and this President are doing. Democrats seem to think that as long as they can print money and still have checks in the checkbook, that they can continue to spend.

If you think people are suffering now, hang on. The suffering hasn't even begun to start yet. It's about to get much much worse. There are solutions, but this Congress and this President either don't believe it, or don't care and are looking for the destruction of the free market system.

You're welcome to comment.


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