The following is from “Economic Apocalypse Now,” my latest WND.COM column:
“… On reflection, the U.S. Treasury takes in enough loot to pay down the interest on the debt as well as a portion of the principal. Matching federal spending with federal revenue: what a concept! And what a tonic to our moribund economy that would be!
To the soul of the subject: The engorged organisms (Anthony D. Weiner is a sample) that currently control the economy from D.C. can discharge their responsibility to creditors without authorizing more borrowing. To do so, however, they will have to cease their many unconstitutional endeavors and break the promiscuous promises they’ve made to certain voters at the expense of the vassals, out of whose hides these ‘promises’ are carved.
As it stands, Republicans – and a few Democrats, one of whom has even cosponsored an amendment to cap federal spending – have done no more than perform a budgetary Bonnie and Clyde: If Democrats want to continue the heist and run deficits and debts to eternity, they will need to promise – “nudge-nudge, nudge-nudge; know what I mean? know what I mean?” – budget cuts, preferably in the trillions. Or introduce, not necessarily pass, a balanced-budget amendment….”
Read more: “Economic Apocalypse Now.”
My new book, Into the Cannibal’s Pot: Lessons for America from Post-Apartheid South Africa, is now available from Amazon. A Kindle version should be on offer by next week.
UPDATE (June 5): Rand Paul:
“On the Democrat side, we have a proposal to cut about $5 billion to $6 billion for the rest of the year. To put that in perspective, we borrow $4 billion a day. So the other side is offering up cuts equal to one day’s borrowing.…Now, on our side of the aisle, I think we have done more, the cuts are more significant, but they also pale in comparison to the problem. If we were to adopt the president’s approach, we would have a $1.65 trillion deficit in one year. If we were to adopt our approach, we’re going to have a $1.55 trillion deficit in one year. I think both approaches do not significantly alter or delay the crisis that’s coming.…I recently proposed $500 billion in cuts, and when I went home and spoke to the people of my state, spoke to those from the Tea Party, they said $500 billion is not enough. And they’re right. $500 billion is a third of one year’s problem. Up here that’s way too bold, but it’s not even enough.” —Sen. Rand Paul (R-Ky.) on the Senate floor, March 9, 2011
Pay attention to how the same self-anointed policemen of libertarianism—the tinny ideologues who’ve never reflected authentically American libertarianism—have taken it upon themselves to purge Rand Paul.
On the positive side, it seems like Beltway libertarians such as the author of this fair-minded piece have learned from the mistake they made when they reflexively panned Rand’s father, Ron Paul.
