By Mr. Curmudgeon
You might not know Doug Elmendorf by name but the government agency he heads did a lot of fancy footwork to make Obama’s health care monstrosity appear “revenue neutral.” You see, Elmendorf heads the “nonpartisan” big-government Congressional Budget Office.
But in a recent interview with the Christian Science Monitor, Elmendorf decided honesty is the best policy. “U.S. fiscal policy is unsustainable, and unsustainable to an extent that it can’t be solved through minor changes.”
Now he tells us.
Not to worry, though. Paul Volker (peanut farmer Jimmy Carter’s Fed Chairman) dusted off a Carter-era big idea. “If at the end of the day we need to raise taxes, we should raise taxes.” Volker insists congress enact a value-added tax. This way you won’t notice how heavily your government is taxing you – it’ll be nicely hidden within each step of a product’s making – from raw material to finished widget. When a single paper clip costs you $10, big-government knows you’ll blame the stationary store.
Testifying before congress last January, Elmendorf said, “Last year’s deficit was the largest as a share of GDP since the end of World War II, and the deficit expected for 2010 would be the second largest. Moreover, if legislation is enacted in the next several months that either boosts spending or reduces revenues, the 2010 deficit could equal or exceed last year’s shortfall.”
Think about that a moment; what the U.S. government once spent defeating Hitler’s Germany, Togo’s Japan and developing the world's first atomic bomb, it now spends waging socio-economic warfare on you. And how are they keeping Obama’s Ponzi scheme from imploding (A-bomb-like) in the short term? According the Christian Science Monitor, “In essence, the US paid for substantial growth in entitlement spending by reducing military spending as a share of GDP.”
Unless We the People start listening to the Tea Party and make some dramatic changes in the upcoming elections, we’ll be responsible for reducing our once proud America into a poor and defenseless Third World nation.
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