Early this morning, the Senate approved a Republican-authored budget that features deep cuts in spending, no new taxes, and hopes of a balanced budget within the next decade. However, not only could their plan never achieve what they hope, it would be an absolute economic catastrophe. Let’s hope it never sees the light of day.
The level of ignorance regarding federal government budgeting is horrifying. I don’t just mean among lay people or the general public, but right up the both houses of Congress and the White House-–you know, the people who actually make the decisions. Nor is it limited to one party. While the Republicans have been far more rabid about it, the
Democrats, too, are anxious to see the day when the budget deficit is not only smaller, but eliminated entirely. Best of all, they say, we might even reach the point of having surpluses that can cut into our massive national debt. While they may prioritize these goals differently, it appears that just about every single politician in Washington shares these sentiments.
God help us.....Taking the moron fest to task.
Forbes — Pragmatic Economics
Why We Cannot Afford The Republican Budget
John T. Harvey | Professor of Economics, Texas Christian University
