Where do We Go?

I first glanced through this article, then studied upon this Post from which I drew the link; both are from David Leonhardt. I read a little further and found this graphic link. Both the graphic and the Writings are very informative, and grant no potential Policy measures to bring the Deficit under control. Washington will never alter its desire to Spend, and Economist Thought should not support fiscal policy which they know will lead to future economic crisis because of Government Spending; California is only the ‘John the Baptist’ model of what will arrive with full fury; the decisive point probably coming when Debt Service exceeds the total Imports Deficit. The Later does actually fuel the Former with Cash, though It is only a rudderless power; the real blame must stay with Congress and President.

Discussion of the Deficit contains real liability for Everyone; I finding it difficult to be specific and cover the entire format equally; generally losing the Reader or his Interest. The foremost culprit must be Congress, whose membership pushes programs which have become pure Porkbarrel, even if they had originally held some advantage for the Nation as a Whole. Weapon systems with no Opponent potential, Infrastructure Development with no real traffic, Water and Conservation efforts with insufficient Water or Land available, Office Building construction which only serves to increase federal employment, and Tax Benefits which rob federal revenues without serving Anyone but Special Interests. A sincere prohibition of Omnibus bills could at least give Presidents the power to Veto obvious willful Expenditures. None of the Above will ever be subtracted from the matrix without Public pressure to improve performance, which simply states that a clean-up of political practices will not occur.

Intelligent individuals will prepare for future dislocations. This will be extremely hard as We have learned that the Corruption has reached the Banks in the last Crisis. One cannot sever their efforts from the greater economy, though, and you have to expect Everyone will suffer under the truly Big One which is coming. My best Suggestion when it comes must be abandonment of federal policy, and concentrate rebuilding upon Local initiatives, that can be closely monitored to eliminate corrupt practices draining the Profits from the enterprise. The Big Bang will pull Attention away from national policy, back to State and Locality where Accounting can be enforced. Any national initiative must first come in Tax Reform, with the elimination of the vast majority of specialized benefits, in favor of uniform and enforced Tax rates of sufficient size to generate the necessary Tax revenues. lgl