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Weekend with Bernie: Fairy-​Tale “Free”

Bernie Sanders is many a progressive’s fairy-​tale candidate.

Well, yeah.

Not “once upon a time,” but today …  the federal government’s public debt is in the double-​digit trillions. The total debt — consisting also of unfunded/​underfunded welfare state “promises” — may be in the triple digits. Still, politicians pat themselves on their backs when they deliver annual deficits under half a trillion per year.

Meanwhile, Senator Sanders, former member of America’s Socialist Party and current caucuser with the Democrats, is running on the “freebie” platform: let’s spend more!

He serves as the pusher of a very old folly: thinking that good things come to us without cost.

But the costs have to be paid.

And will be.

That’s the essence of common-​sense wisdom since ancient times. Usually I conjure up an accountant or an economist to explain this, but why not go back to folklore? Folk and fairy tales, along with myths both ancient and modern (remember Tolkien’s Lord of the Rings?), tell us that magic powers come at a price.

And those costs can be killer.

Far-​left-​of-​center magic pretends that not only can Bernie provide “free” stuff for everyone (including those of us in his “hard-​working middle class”), but also that the wherewithal for these goodies (college, medicine, food, shelter, meaningful work) can easily come from … three pot-​of-​gold sources: “the rich,” “print more money,” and that least plausible sprinkle of fairy dust, “government efficiency.”

We tell children fairy tales not to make them wish for magic solutions, but to illuminate the logic of responsibility.

Bernie didn’t get that lesson.

This is Common Sense. I’m Paul Jacob.


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Bernie Sanders, Free, Fairy Tale, promises, collage, photomontage, James Gill, Paul Jacob, Common Sense, illustration

 

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too much government

Down and Out and California

Barring drastic action, the Golden State will run out of cash in March.

There is no provision in the Constitution for dealing with a bankrupt state. But then, there’s nothing explicit dealing with federal bankruptcy, either. The founding fathers didn’t expect their republic to permanently accumulate debt. Indeed, Thomas Jefferson wished to foreswear all sovereign debt. He considered the practice parasitic.California's Direction

Our leaders are supposed to run our governments so to avoid debt crises.

But, because politicians do just the opposite, they run into cash flow crunches. Last year, California’s statesmen borrowed $5.4 billion to cover the lean time before Spring’s tax revenues flowed in. They had figured they would be good through June, but miscalculated. Now they’re scrambling for an extra $3.3 billion.

Time to fudge the books! Pay late. Not answer the phone or respond to dunning notices.

Of course, the real problem is over-​spending. California’s politicians spend too much.

Alas, it doesn’t look like they are about to reform.

Gov. Jerry Brown still pushes the huge “investment” of high-​speed rail, for the grandest example. The project’s supporters have over-​estimated ridership, underestimated costs (the most realistic official accounting now puts the system at $98 billion), and have been forced to restrict the extent of the line, excluding both San Diego and the state capital. Brown’s response? Making up for cost overruns by hijacking funds from the state’s “cap-​and-​trade” (the nation’s only carbon-​footprint-​based) tax.

Ah, politicians: Spend, spend, spend, even as the institutions they are responsible for lurch into insolvency.

This is Common Sense. I’m Paul Jacob.