Saturday, December 17, 2011

Time For A Budget SURPLUS Amendment

Forget the Balanced Budget Amendment (BBA). It's a cynical political ploy by the GOP. It leaves them free to pass all the irresponsible cut taxes they want while handcuffing the Democrats from restoring taxes to responsible levels or even raising them if needed.

The BBA is part of the GOP's larger strategy to sabotage the finances of government, to create massive deficits/debt hoping an eventual fiscal crisis will undermine signature Democratic safety net programs like Social Security, Medicare, and Medicaid. As if that wasn't bad enough, it leaves the matter of the national debt unresolved… setting in cement the theft by our generation of some now $15 trillion from future tax payers… and by that I mean our kids and grand kids. The interest alone last FY was over $450 billion and $2.9 TRILLION was pissed away on interest during the Bush years alone.

We need to stop playing these budget games. Both Democrats and the GOP use the unified budget to conceal internal borrowing from the trust funds to make the real deficit look smaller. It's the on-budget deficit that gives us the true picture.

What is needed is a no games On-Budget SURPLUS Amendment to restrain both reckless spending AND reckless tax cuts by all sides and force them to finally pay down our enormous debt which now is about $16 trillion dollars.

The task ahead is daunting. Even if we ran an annual $500 billion surplus, something that didn't even happen in the best Clinton years, it would take us now some 32 years to pay down the debt. That neither political party sees the moral outrage in this situation is a damning indictment against our morally bankrupt and intellectually braindead political system.


updated 9-17-12

1 comment:

ginab said...

over from Not Movin' On Up. I like your blog.

I can read more later.

thank you.