Year after year, the government routinely spends more than it takes in. For you or me this would eventually result in bankruptcy, but for the government it instead results in a financial condition called "progressive massive crippling debt". This ruinous financial strategy is pursued by people in suits who otherwise pride themselves in possessing a trait called "fiscal responsibility", except when it comes to trillions of dollars and their own country. Anyway, the government makes up its ongoing shortfall by borrowing money from rich people in the form of T-bills, and then we all pay interest to these rich people in the form of taxes. It's basically a protection racket combined with a sort of proxy loan sharking operation. And you know what's really incredible about all this? I'm not making it up!

Despite having run up the largest debt in the history of civilization, the Republicans nonetheless actually manage to label themselves fiscal conservatives, a feat so spectacularly brazen as to almost be worthy of something like admiration. Remember candidate Bush? He said he was going to cut taxes, more or less ignore spending, and pay off the national debt in ten years. He actually said this. Regrettably, because he was wearing a suit and seemed sincere, other politicians and the media apparently thought it impolite to point out this was plainly ridiculous.

The Democrats for their part make the occasional squeak about balancing the budget, but this is mostly so they can blame the Republicans for not doing it.

This year's budget deficit is projected to be $400,000,000,000- not quite another record, but then the year isn't over yet. Part of the election process this coming November will be trading excuses for this wild financial excess, and promising that next year will of course be different. A combination of irresponsibility, confusion, and hopelessness will again prevail.

So you can go ahead and be financially responsible, you can pay off all your bills, you can decide not to buy a new home or a new car, you can cut  as many corners and pinch as many pennies as you like and you'll still continue to sink into debt, because you have elected officials in Washington relentlessly running it up for you, year after year. And you pay them to do it.

OK, follow me on this: since we want income to equal outgo, and since income is less than outgo, then either income needs to go up or outgo needs to go down, or some combination of the two. Hopelessly abstract? Perhaps. But, clearly, some innovative thinking is needed here.

The graphic truth-


And the Republicans have controlled the White House and both houses of Congress since ... oh, must have been 2000.


USA Today
Monday 03 April 2006

The federal government is currently spending 20.8 cents of every $1 the economy generates, up from 18.5 cents in 2001, White House budget documents show. That's the most rapid growth during one administration since Franklin Roosevelt.

There are no signs that the trend is about to turn around. The House Budget Committee last week rejected a proposal that would require spending hikes to be offset by cuts in other spending or by tax increases.

This week, the House is scheduled to debate the $2.8 trillion budget for 2007, which projects an additional $3 trillion of debt in the next five years.

This is what the US Comptroller General thinks-