August 7, 2011

In yesterday’s post I wrote:

It’s high time this country grows up and realizes just where nearly eight decades of entitlement program and pork barrel spending by both Democrats and Republicans alike have brought this country’s economic situation to.

Glad to see someone like Hot Air’s Ed Morrissey, someone whose writing and opinion I enjoy and deeply respect, is sounding a similar these in his post today:

What do we do know? It’s time to acknowledge that Ponzi schemes don’t work, and that entitlement programs are destined for collapse under current parameters. We can’t possibly tax enough to cover their costs; the problem in this case isn’t revenue as much as it is a lack of suckers on the front end of these schemes. They worked when the worker-to-beneficiary ratio was 16:1, but not when it’s 3:1 or less. Most Americans want a safety net for the elderly and the truly disabled, but in order to have that, we have to severely limit the pool of recipients to those who absolutely cannot work to support themselves, not to those who choose not to work to support themselves. Retirement needs to be self-funded, or not taken at all. We also need to revamp public-sector pension systems that threaten their own tidal waves of default at the state level to get on top of our national liabilities once and for all.

In short, we need to grow up and realize, as Robert Heinlein once instructed us, that there really ain’t no such thing as a free lunch.

Both Ed and Congresswoman Michele Bachmann are right in calling for Treasury Secretary Tim Geithner to resign, and hopefully by him doing so and through the resulting confirmation hearings for whomever President Obama nominates as his successor we can finally have an adult conversation about the fiscal mess we’ve gotten ourselves into and how the size, shape, and scope of the federal government needs to change to reduce the deficit and get this country back on solid economic footing. Perhaps that discussion and debate will have to wait until the 2012 presidential campaign gets under way, but yesterday’s news makes it certain that at least discussion will be had, and very soon.

Thank God for that, it’s freakin’ about time.

One other note about yesterday’s downgrade: you may not see any real evidence of it yet, but guarantee this means the apex of LBJ and the “Great Society” – liberalism’s view that government can, and should, be a nanny state taking care of all things for all people from birth to death – has finally, and thankfully, been reached. Endless extensions of unemployment benefits, entitlement programs careening towards bankruptcy without any caps, cuts, or means testing, job-choking regulations from unknown and unseen bureaucracies, well-intended programs designed to remove any kind of risk or unpleasantness from life, even Obamacare itself, they all have to go. There’s nothing left in the till.

It’s already a well-known fact you cannot raise taxes enough to reduce the deficit, let alone cover all the “creative” ways Washington can devise to spend the people’s money. Like one of those gossly obese teens and adults you inevitably come across on one of the Discovery Fit & Heath Channel reality shows, the time for radical treatment and the unpleasant consequences of such has arrived, and we as a people living in a nation that was founded on the principles of truly representative and limited govenment better grow up and get used to the fact that the gravy train is now officially off the rails.

Filed in: Politics & World Events by The Great White Shank at 00:14 | Comments (6)
  1. I’d like to see us cut all entitlements and subsidies 10% across the board. I think it can be done. It’s when you start picking and choosing which ones to cut, which ones to eliminate, which ones to leave untouched … that’s when the trouble starts. When I say subsidies, I mean all of them. Every single tax deduction is a subsidy. Democrats should love that because it would raise revenue. Republicans should love it because it would strengthen personal responsibility.

    Comment by Rob — August 7, 2011 @ 12:14 pm

  2. Thank you, Rob, you and I just solved the economic mess. You’re absolutely right, and I can’t wait to see you run for Congress! 🙂

    Here’s a place that congresswoman Michele Bachmann is also right, that no matter who you are and what kind of assistance you’re on, you should be paying taxes on it as well. Maybe we make it only 1% or something like that, but everyone needs to have some skin in this game. People are going to see benefits cuts for sure, and Republicans need to embrace “revenue hikes”, even if it is just for this particular set of folks. You can’t have 47% of taxpayers not paying anything for the benefits they receive.

    Comment by The Great White Shank — August 7, 2011 @ 11:43 pm

  3. I was totally disconnected from the world for 5 days and after coming back and hearing all this “DC drama” I am ready to head back to the world of the lakehouse where there is no computer access, no cell phone access and no tv. Just quiet time floating on the lake, watching the sunrise, drinking some lovely Pino Grigiot and just being in awe of the peace and quiet. Plan B is still go live with Mek Tribe

    Comment by Jana — August 8, 2011 @ 5:43 am

  4. I just heard the MEK tribe’s credit rating has been downgraded by Moody’s to junk bond status. 🙂

    Comment by The Great White Shank — August 8, 2011 @ 10:50 am

  5. You mean Chickens are no longer holding their value???? Oh Lord, marriages will be ruined, trading chickens for brides GONE???? We must save the Mek tribes….I am starting a chicken fund raising drive…send all chickens via UPS or FedEx to PauPaua New Guinea TODAY. All donations are tax deductible.

    Comment by Jana — August 9, 2011 @ 5:50 am

  6. Yeah, didn’t you hear? Even their chickens got downgraded. Now they’re just chicks. 🙂

    Comment by The Great White Shank — August 9, 2011 @ 2:38 pm

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