It’s Jamie’s Money – Stupid!


Jamie is 14, a good student, a cheerleader, and has yet to hold her first job.  The absolutely out of control spending by administrations of both parties over the past 75 years has always been deeply concerning.  However this past year has broken the camel’s back.  Where is the sanity?  This immoral spending and borrowing has to stop now.

LBJ sent this writer to war in a Marine rifle company on borrowed money.  Then he pushed through his Great Society legislation which created never ending fiscal outflows and saddled this nation with untenable programs soon to go into deficit.  These programs were of course added on top of a Social Security commitment dating from 1937 that was already heading for trouble.  Government programs expanded, increased, and spending grew throughout subsequent administrations.  Clinton is credited with actually balancing the budget and creating a surplus with a lot of help from a fiscally responsible (for a very short time) House of Representatives. 

The second Bush presidency went off the rails and the next thing we knew, another huge entitlement program, a couple wars, reinstated farm subsidies and increased earmarks brought back huge deficits.  Congress was back on a spending spree and “W” lacked courage with the veto pen. 

Most of these entitlement programs and spending were initiated for one reason only – to buy votes in the next election and support incumbency.  It is basically spending borrowed money to play sugar daddy to the next bloc of voters some politician wants to buy off.  An earmark here, a program there, an occasional new cabinet department and it all continues to add up to an impossible burden. 

In the past year we have seen TARP, the Stimulus Bill, the Omnibus Bill, and now 2 versions of proposed health care reform which combined have caused the deficit and national debt projections to be blown beyond the Land of Oz.  The yellow brick road is paved with government IOUs.  Recently we heard that since there has been no inflation, Social Security recipients won’t get a COLA increase.  How best to try to buy off these folks who are somewhat reticent about health care reform? Well, the President wants to give them a raise anyway.  What’s a paltry 14 Billion Dollars when we are already 13 Trillion underwater? Now we are staring at a new budget with a 1.6 trillion dollar deficit with promises of yet more to come.  This behavior is irresponsible, out of control, and blatantly self-serving. 

Lord Acton once said “Power corrupts, but absolute power corrupts absolutely.”  The Republicans proved this between 2000 and 2006 when they ran wild with spending, earmarks, and entitlements resulting in huge deficit growth.  They abandoned core principles for the aroma of the trough and the near criminal quest for reelection.  Their buffoonery was rewarded by being booted out of power.  Now the Democrats, supreme in the White House and Congress are striving to lure millions more Americans into the false security of entitlement dependency for the sole purpose of remaining in power – on borrowed funds, of course. 

 Buying auto manufacturers with money borrowed from China, propping up “too big to fail” financial firms which should have been broken up and sold off in manageable chunks, and blowing $780 Billion on pork laden “stimulus” measures all fits into the plan.  Cap and Trade bills in the works will cripple the global competitiveness of major industries, raise energy prices, and destroy the resale home market.  If this bunch gets their way with health care, the Postal Workers Union will eventually be running our hospitals.  This administration is moving lock step toward imposing their own group think into legislation and international agreements that will severely inhibit any possible economic recovery and create compounding deficits for decades to come. 

The current unfunded liabilities of Medicare parts A, B, & D amount to 89.3 TRILLION DOLLARS.   Congress and the President want to cut Medicare by $500 Billion to shell game some of the costs of their health care reform plan.  This is nothing but a Madoff Moment milking one Ponzi scheme to fund yet another.  We might assume that particular plan is dead with the election of Scott Brown, but it may only be playing possum.  In the meantime the administration is trying to pass another stimulus bill and dragoon the repaid TARP funds into additional spending.   

Who EXACTLY is ever going to pay for this irresponsible fiscal lunacy? Well, let’s let Jamie pay for it for the rest of her life long after we who spent the dough are gone.  She won’t ever be able to remove our dead hands from her pocketbook.  She, her children and grandchildren will be condemned to lives of serfdom – all because powerful politicians cared more about their own selfish interests than the good of the country, its future, and its people. 

Americans should take a long look in the mirror and realize who put these people in office from the president on down over the past half century.  We are being led down a chute to national financial slaughter by them and since the bill will come due over the next couple generations, we will be remembered as the ones who crippled our nation with debt, spent the dreams of our children, and sold them into financial servitude.  We will not be kindly remembered by our descendents.  If you have young ones that you love as I do, and you have one scintilla of self respect and common decency, you will help reverse this disastrous course before it consumes our nation and its people. 

How do we begin? First we must realize that in nearly all cases, “something for nothing” from the government is just flat wrong.

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2 responses to this post.

  1. Posted by C M Mowbray on February 15, 2010 at 8:23 pm

    With all due respect, I have one comment:
    You assume the policy makers have a conscience!

    Of course they are spending someone elses’ grandkids’ or niece’s money without compunction.

    Until we elect people with a true sense of service to their community or country, that’s what we get.

    Reply

    • Hi Verm:-)

      I thought it was pretty clear that I consider most of them to be nothing but opportunistic jerks buying incumbancy with money they will never have to worry about repaying. I assume most are too drunk with power to even consider a conscience. Thank you so much for reading the post.

      Jeff

      Reply

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