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Tuesday, Aug. 30, 2016

Unchecked spending may cost too much

Wednesday, January 9, 2013

Today's America has become an "instant gratification" society. That singular fact is not even in dispute.

Technology has driven much of that change but greed is the overall contributing factor.

We want what we want and we want it now.

The political atmosphere has, too, adopted this short-term approach. We fix today what needs fixing and we worry about tomorrow tomorrow. Or down the road. Or never.

Someone within the power circle of the Democratic Party needs to help explain how this saga will end.

In other words, if spending is to increase - and it is - and additional tax revenue falls short of matching that spending - and it will - then what happens next?

Is that not a legitimate question?

The Democrats seem to hold the odd position that we can grow our spending and somehow magically, our revenues will grow to match and then exceed that additional federal outlay.

But even those within their own party freely acknowledge that the numbers work only with some substantial growth from the producing sector of our society.

But history shows that more regulations and higher taxes actually stifle growth.

So soaking the rich, removing the now-famous "loopholes" and taxing virtually everything that moves will generate more money to spend.

Yet the numbers still don't work.

Thus, I can only assume, I am not sufficiently versed in economics and I desperately need help from a Democrat who understands the math.

If spending increases and our population ages and we push more people on the entitlement rolls each day, just how will we address our debt and deficit?

I'm sure someone within the Democratic Party can answer this simple question.

But I have yet to hear the answer.

Here's what I think the answer might be.

We will spend and spend until there are no revenues remaining to spend. At that point, the feds will seek creative accounting methods to portray our position differently. And the spending will continue.

Then, when the federal checkbook is at zero and there's no more money to be had from taxpayers, we'll face some choices that will trigger a revolution.

That revolution will most likely not be fought in the streets but rather in the towers of power.

Currently the producers of revenue - that would be the taxpayers - are in quiet revolt over the spending grab advocated by this administration.

Wait until the population that lives off of this taxpayer revenue faces the distinct prospect of their government assistance disappearing.

Talk about hitting the fan!

Michael Jensen
Michael Jensen