Tag: deficit

Do Not Discuss This!

Some stories linger in the background, under-acknowledged, never really addressed, driving us a bit crazy.

Example? Deficit spending and debt accumulation.

The problems that deficit financing inflicts upon us are many and devastating. We would be a lot wealthier, healthier, and wiser were the federal government not so madly out-of-control. We could invest in all sorts of great things, and prices would be more stable, and … and … and …

But what can we do about it?

It’s not obvious. So we don’t talk about it much.

And the debt only grows, with destructive hyperinflation looming as an ever-increasing danger.

The other under-discussed story is even more disturbing — so we ignore it even more studiously.

Within the last several years headlines in The New York Times and on TV have covered it, yet … very few people talk about it, despite the startling revelations.

The issue? UFOs — a strange subject at face value, which, once you poke into it, gets even weirder.

We level-headed yokels used to deny the existence of UFOs, but now the Pentagon has confirmed their persistent plaguing of Navy jets and seacraft, and the Army has acknowledged its ongoing study of UFO-derived “meta-materials.”*

In June, the Senate will be briefed on the subject, per instructions in a recent stimulus bill. (Which brings us back to our first blank-out issue.) Meanwhile, as we wait for what could be big news, new revelations of repeated incursions by UFOs against a Navy fleet 100 miles off the California coast back in 2019 appear in specialty media** but barely make a ripple in major media.

Wait — Fox just featured a segment on a Pentagon confirmation of flying pyramids!

Will we make headway on UFOs before the debt?

This is Common Sense. I’m Paul Jacob.

* French scientist and UFO researcher Jacques Vallee is also engaged in research on UFO-site-retrieved mystery alloys.

** See Richard Dolan discuss these recent Channel Island incursions, based chiefly on the report in The Warzone.

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previously on Common Sense with Paul Jacob:

It’s Aliens (May 30, 2019)

The Whys Behind the Whats (June 25, 2019)

Stranger Things 2019 (January 2, 2020)

Two Conspiracies Unearthed (December 10, 2020)

Why We Still Live (December 18, 2020)

Tags debt, deficit, UFO

media and media people national politics & policies

Stranger Things 2019

On Tuesday, I seconded George F. Will’s judgment that the biggest story of 2019 was the Hong Kong protest movement.

In America, though, 2019’s top news story must be how the anti-Trump movement morphed from Russiagate, which fizzled upon release of the Mueller Report, to the quasi-impeachment bit over the most yawn-inducing scandal of all time, Trump’s Ukraine Phone Call.

It is certainly a strange story, but there are stranger big stories from last year. I am tempted to assert that the year’s biggest news is actually the Biggest Non-Story: trillion-dollar deficits and ever-increasing debt.

No protest over that enormity. Getting anyone to talk about it is like getting the government to come clean on … UFOs.

Which brings us to the absolutely weirdest story of 2019. During this last swing ‘round the sun, multiple sources associated with (and inside) the federal government, admitted that, within the corridors of our un-beloved Deep State, artifacts from crashed ‘and landed’ UFOs were being studied.

After decades and decades of ridicule, eye-rolls, stonewalling, lying, and disinformation about ‘flying saucers,’ several important government bodies — including the Army and Navy — now admit that they almost regularly encounter astounding … crafts … that are not part of our nation’s official sea and air technology inventory.

These admissions amount to ‘disclosure.’ But it is not an information dump — disclosure is just a trickle, so far.*

Why? Perhaps the idea is that we cannot handle the truth.

Or perhaps they can’t.

Which isn’t really unlike ever-increasing deficits and debt, now that I think about it.

This is Common Sense. I’m Paul Jacob.

* Still, even with a mere handful of official and near-official admissions of retrieved UFO tech, the story looms large indeed.

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Tags debt, deficit, UFO

national politics & policies too much government

Make Deficits Great Again?

money, case, window, floating, deficit, spending,

Is Donald Trump really “draining the swamp”?

It’s overflowing.

Stan Collender, writing last year in Forbes, noted just what a big spender the president really is. Now, an update: fiscal year 2019 sports a deficit of $1.09 trillion, up considerably from the $897 billion projected earlier this year; the next year is expected to nudge the deficit even higher, to $1.1 trillion.

The whys aren’t a mystery: it is politically difficult to cut an expected benefit to any constituency. It looks stingy — though it is the very opposite. Spending other people’s money — including taxpayers’ — is not generosity. For a politician, it is naked self-interest. Buying votes.

Worse than merely corrupt, it’s corrupting — since the People are increasingly tempted to look to government to supply special voting bloc advantages rather than the mutual, universal advantage of liberty and justice for all.

Collender speculated that a $2 trillion deficit is “definitely within view” because “Trump is demanding that federal spending and the government’s red ink be increased even further.”

Judd Gregg, writing yesterday for The Hill, summarizes current GOP fiscal policy as “now the most profligate and debt-driving party in the nation’s history.”

He’s not wrong, but I question his next line: “Fiscal restraint is no longer part of the cloth the Republican Party wears.”

Careful wording.

Republicans sometimes talk a good game, but are known to be big spenders when not opposing a Democratic president. The Class of 94 was effective against Bill Clinton. Under unified government in the aughts, though, under George W. Bush, they went on a spree.

Maybe Republicans just need a good enemy.

Bernie Sanders for President?

Perhaps any socialist Democrat will do.

This is Common Sense. I’m Paul Jacob.

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Tags budget, case, debt, deficit, floating, money, spending, Trump, window

national politics & policies Popular too much government

Seriously Not Serious

Trump, deficit, spending, military, cuts, budget

While one segment of the voting public regards President Donald Trump as a heaven-sent savior, a louder mob treats Trump as the Beast, a veritable Anti-Obama.

I am in neither tribe.

To me, Mr. Trump must be judged on what he does. Nominating Neil Gorsuch? A‑plus. But The Donald has also reneged on a number of important campaign promises, not the least being his pledge to “eliminate the national debt in eight years.”

Sure, it was never quite believable. But is this administration even making progress?

If all goes according to the new plan, “the country would run a deficit of $631 billion in 2025,” writes Eric Boehm. That is not much of an improvement over Barack Obama’s final-year deficit of $666 billion.

Boehm’s Reason article is titled “Trump’s Budget Would Add $7.9 Trillion to the National Debt Over the Next Decade,” which gives a serious picture of Trump’s under-performance.

Now, you could react to the news and just say “less than $8 trillion — could be worse!”

But by accepting such a high number, we set the bar awfully low. It just isn’t serious.

And speaking of frivolity, it is “hard to take the president’s calls for belt-tightening seriously,” Boehm writes, “when the cuts only apply to some parts of the federal budget.”

You can guess which part of government is being given a free pass. Trump’s team is attempting to hide something: “spending increases for the Pentagon.”

Now, if American foreign policy were not the incoherent mess it is, we might make excuses.

But it is.

Serious Americans would exempt no part of the budget from intense scrutiny.

And real cuts.

This is Common Sense. I’m Paul Jacob.

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Tags cuts, deficit, military, spending, Trump

Accountability folly ideological culture national politics & policies responsibility

Politics as Painfully Usual

Post author By CS Admin
Post date October 6, 2017
2 Comments on Politics as Painfully Usual

deficit, congress, budget, folly, Medicare, tax cuts, fiscal responsibility

The crazed nature of our leaders’ willingness to spend beyond revenue, and accumulate debt, is not limited to one party. Both Democrats and Republicans are responsible for their outrageously perverse fiscal policies.

Their irresponsibility hides in plain view, and can be seen in most of the major policy discussions of our time. Take two:

the Democrats’ idea of putting every American on Medicare and
the Republicans’ current tax reduction bill.

Though the Republicans often pretend to be all about something called “fiscal conservatism,” their murky tax plan is not fiscally sound. Not yet, anyway — after all, it is “evolving.”

And I expect it to get worse, not better.

“The current plan proposes about $5.8 trillion in tax reduction offset by about $3.6 trillion in base-broadening offsets, meaning that it would result in a $2.2 trillion deficit increase over the next decade,” Peter Suderman summarizes over at Reason.

They have a number of cuts in the works, but also plan to spend more on defense and the like. The debt would go up.

But if the Republicans are hypocritical and irresponsible, the Democrats add sheer insanity to their irresponsibility.

“Medicare for All” is pushed by Senator Bernie Sanders, who serves Vermont, where a similar universal system was enacted, only to be repealed after it proved unaffordable even with huge tax increases. All single-payer/socialized medicine proposals would require whopping tax increases to work, and the increases in spending would inevitably yield greater deficits.

Besides, Medicare is heading for financial Armageddon. Adding more burdens to a system that they cannot (or simply will not) now make solvent?

Only a politician could consider such a “solution.”

This is Common Sense. I’m Paul Jacob.

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Art by John Goodridge on Flickr

Tags budget, Congress, deficit, fiscal responsibility, folly, Medicare, tax cuts

Accountability general freedom moral hazard national politics & policies political challengers responsibility tax policy

Bankrupt Leadership

national debt, debt, deficit, debate, Republican, Democrat, Tea Party, CommonSense

Sen. Rand Paul wasn’t the only thing absent from the GOP presidential stage last Thursday.

Also missing? Any meaningful talk about reducing federal spending and avoiding a sovereign debt crisis. The debt looms over all our heads. But you wouldn’t know it to listen to the GOP hopefuls. (And the same nearly goes without saying for the Democratic Party’s debt-denying presidential aspirants.)

Way back when the Bush Administration had lost America’s confidence, deficits and debts were a common concern. Much of the disgust that birthed the Tea Party movement was disgust at Republican over-spending, as well as at the bailouts that spurred the initial protests. And then came Obama, Obamacare, and a 70 percent increase in federal debt.

Why the silence now?

Nick Gillespie, of Reason, figures that Republicans don’t really care about deficits and debts.

Andrew Flowers, of FiveThirtyEightPolitics, wonders whether the GOP has abandoned the issue because Republicans don’t want to face the fact that Obama has, indeed, reduced deficits — though definitely not the debt, which has nearly doubled.

Alternative theory? Republicans have given up hope, because the last two Democratic presidents, Bill Clinton and Barack Obama, have successfully threatened government shutdown over even the itty bittiest spending cut, safe in the knowledge that the mainstream media’s full spin-cycle will be blaming conservatives.

This has made it easier for Big Government Republicans to embrace greater military funding and other spending programs, as Gillespie notes.

But real leadership recognizes the present danger of debt.

This is Common Sense. I’m Paul Jacob.

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