The recklessness of American (and other) governments is becoming, seems to us, unbelievable were it not put before us hourly. Our President parades about the world, a popinjay followed by his hundreds of retainers and deified by an awed press that spends its efforts analyzing where he bestows his handshakes. Congressional leaders wax indignant over disagreement with their spendthrift ways by more realistic members. “Whom the gods would destroy,” we recall, “They first make mad.”
In an America that has borrowed more than its taxpayers, full of unemployment, will ever be able to repay, the overspending that created the debt is perpetuated by Federal Reserve money production so as to avoid reducing the outflow to reality. Never mind that every new dollar plucked from the air by Fed magic dilutes the purchasing power of those already on hand.
Our governors refuse to adjust the Social Security, Medicare, Medicaid and foreign military adventures that have created the deficits. They add an Unaffordable Uncaring Act that is financially (and otherwise) unsustainable, do new budget deals that increase deficits and remove spending cuts already made and they authorize new spending (full of earmarks) via the current Defense Authorization Act. About half the buddget cuts provided in the deal in a feeble attempt at cover, are meaningless before 2022. If this is not madness, it will do so far as the gods are concerned.
Fewer Americans are working so fewer pay taxes. Those left are subject to escalating taxes and new costs heaped up by new programs such as Obamacare, plus higher costs of energy and environmental protection on top of the inflation that justifies higher government worker wages but doesn’t exist for those in the private sector. Our governors are squeezing taxpayers out ot the middle class into poverty as the 47 million now on food stamps will certify. Yet the spending rises and the taxes with it and the voters complain while reelecting their Congressfolk.
The gods must be laughing their heads off.