A suggestion to cut some wasteful spending out of the government Part 1 (includes editorial cartoon)

What Are the Dangers of Too Much Debt?

Published on Mar 20, 2012

Interest payments on U.S. government debt are three times spending in the Iraq and Afghanistan wars already, and that is with the lowest interest rate we have seen since the 1960s. A rise in interest rates would increase interest payments dramatically. What can the U.S. government do today to prevent a crisis from happening when interest rates go up?

______________

We got to cut wasteful spending out of the government and here is another fine suggestion from the Heritage Foundation.

Todd Thurman

March 12, 2013 at 5:40 pm

Newscom

The massive spending bill, or continuing resolution, released by the Senate this week continues spending on programs which are inappropriate or wasteful and fails to adopt good policies in many areas. Here’s a rundown of some of the worst offenders in the Senate bill:

Obamacare. The CR fails to stop the massive spending in Obamacare. Obamacare obligates an estimated $1.2 trillion for subsidies to individuals for purchasing coverage through the government exchanges and $638 billion for states agreeing to expand their Medicaid programs. Congress should eliminate the exchange subsidies and the enhanced federal match for the Medicaid expansion. Stopping these provisions would save the federal government more than $1.8 trillion over the next 10 years. Nor does it take steps to defund implementation of Obamacare.

—Nina Owcharenko, Director, Center for Health Policy Studies and Preston A. Wells, Jr. Fellow

More than two years ago, I explained in a TV interview that the looters and moochers should be careful that they don’t kill the geese that lay the golden eggs. After all, parasites need a healthy host.

Here is a cartoon from Dan Mitchell’s blog:

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Comments

  • David Lloyd-Jones  On April 23, 2013 at 9:39 am

    Everette,

    As usual your daily diet of sneers, inaccuracies and misuses of Scripture is laced with bad politics and bad economics.

    On the debt you fail to make the most elementary of lessons, one that we learned from Keynes if we didn’t learn to from our grandmothers: government should pay for stuff in good times and run deficits in bad. Seven good years +> granary; seven bad years +> eat surplus.

    Bill Clinton left Bushlet with a surplus and a healthy economy. Rather than continuing to store up treasure, Bushlet borrowed from China, first to give his rich buddies tax breaks, second to run two wars on the tab. Not surprisingly, eight years of that caused the economy to collapse. (Now, oddly, Bushlet’s followers, want to put stuff back in the granary when they’ve picked the fields clean for eight years.)

    Luke 14:28 had good advice on the subject. If you wanna have a couple of wars, Count the cost.

    You guys ought to read that Scripture stuff some time, instead of retailing the latest Republican right talking points at us all.

    -dlj.

    • Everette Hatcher III  On April 23, 2013 at 2:18 pm

      “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?” is the scripture you mention and I love that verse!!

      As far as Obama’s stimulus goes I think Dan Mitchell got it right:

      “I almost feel sorry for the ideologues and partisan hacks who feel obliged to defends Obama’s miserable economic performance.Keynesian spending policies and class-warfare tax policies have produced dismal economic performance, with unemployment stuck above 8 percent – even though the White House promised the joblessness rate by this point would be about 5.5 percent if we squandered $800 billion-plus on the so-called stimulus.”

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