Budget, budget, budget

Now, that agreement has been reached on setting a budget for the current fiscal year which is seven months old, I have three comments. First, bipartisan collaboration is the reason this budget passed. Thus far, the House has been trying to pass legislation arguing amongst Republicans. Bipartisan legislation is how John Boehner got bills passed.

Second, it is interesting how we are celebrating Congress for doing its job. This is one of the easier, substantive things they do, yet it should not take seven months into the fiscal year. Keeping the lights on is the most important thing they do, yet they can’t do even this well.

Third, I have witnessed yet again a Congressional candidate to replace now budget director Mick Mulvaney tout he is in favor of a balanced budget amendment. Folks, we have $20 trillion in debt. We need more revenue than expenses. And, we cannot cut our way there. We need to increase revenue. It should be noted the President’s tax plan is estimated to increase the debt from $2 to $6 trillion.

We need more serious discussions than this President and Congress are prepared to do. We must roll up our sleeves and add wisely to revenue and cut wisely our expenses, as both efforts are required. If someone tells you otherwise, mention the $20 trillion debt figure.

27 thoughts on “Budget, budget, budget

  1. it’s hard to imagine 20 trillion…

    that’s like giving an irresponsible person a credit card with no limits and saying, ‘have fun for the rest of your life….’

    .that figure should take away anyone’s appetite..

  2. I love to read your posts: you write as though the folks in Congress are actually rational beings who will listen to evidence and do what is best for the Common Good! If only it were so!!!

  3. Yikes. Every time I read that this proposed budget will increase the deficit, I get a feeling of disaster. It seems to me that the simple definition of ‘budget’ is a plan to wisely use the money that you already have. Yikes again.

  4. Dear Keith,
    Thanks for this great post. If both sides got together to focus on doing what’s best for Americans from rich to poor; to increase revenues while lowering the debt over next 20 years, there is lots that can be done.

    But that means giving up some sacred cows like the raising of taxes in some instances; tweaking of entitlement programs.

    Ciao, Gronda

    • Gronda, you are so right. When my friends from The Concord Coalition speak to members of the GOP, when they get around to the fact we also need to increase taxes, it shuts them down. As we have discussed, the Simpson-Bowles Deficit Reduction Plan had $1 increase in revenue for every $2 of spending cuts. To me, reduces taxes is a shortsighted move. Keith

  5. Note to Readers: Even before this budget is officially passed and signed, our President is suggesting that maybe a government shutdown would be a good thing in the fall to get Democrat Senators to cooperate. Let me restate the obvious that the leader of our country is hoping that we close government down for business. This is beyond poor stewardship and is a breach of his oath of office. This so-called leader has not shown much propensity or knack for being a leader.

    He blames others for his failures and is unaccountable for his actions. He is quick to assume the job growth numbers early in his presidency, but when the first quarter financials are south of where they were hoped, he blames the earlier administration. He cannot have his cake and eat it too. Why people mistook his false bravado as leadership is beyond me. This man has never been a leader (except over his own greed) and has only taking advantage of people his entire working life.

  6. Excellent post, Keith. What I find interesting, and NOT in any good way, is that where most presidents would encourage both sides of the aisle to work together, Trump seems determined to widen the partisan divide, blaming and verbally slamming Democrats at nearly every turn. This is not going to help anybody, and it seems that it would be in both the best interest of the nation, as well as his administration, to attempt to facilitate more bipartisan cooperation. But why should I expect logic from the White House? It is, after all, 2017.

    • Jill, everything this man is about is divisive. Any issue, person or group that is critical of him is an enemy to be defeated. This is why an adversary of our country can make headway with him through assuaging his ego. He is about as poor a leader as I have ever witnessed and he leads the most powerful country in the world. What could possibly go wrong? Keith

  7. I think Mick Mulvaney is the biggest part of the problem. Trump lured him into a box trap with a bowl of Lucky Charms and bound him to do the Orange One’s bidding. Mulvaney is obviously an evil leprechaun, sometimes known as a Spriggan. If we could only put a circle of garlic around him, or steal his black shamrock, then he wouldn’t be able to steal seniors’ Meals on Wheels and inner city kids’ after school programs. One has to use the right bit of magic to control evil.

    • Mickey, I have seen Mulvaney interviewed twice in his new role on PBS Newshour. He is not very truthful, so he fits in nicely with his boss. The last interview, I counted four major untruths. After he finished, a nonpartisan budget expert was interviewed and with respect to one of the untruths, the expert said Mulvaney is saying the exact opposite of what the proposal does. It matters less to me if someone has a view different than mine, but what I do mind is the lying that goes with it. Keith

      • Yep, lying is a scourge in politics right now. It is flaying the meat from the bones of everything Obama tried to accomplish and telling us they are making our lives better.

      • Mickey, my Republican friends will be surprised to learn Obama will be remembered as a pretty good president. So, unwinding many of his actions are not in the best interest of America. Keith

  8. $20 trillion?
    I have to ask at what stage with Capitol Hill be discussing with the Whitehouse which one of the larger states they might have to sell off to balance the budget?
    Ours is a measly £2 trillions (approx.) (about $2.5 trillions) and guess what? Our govt intends to cut taxes too.

    • Roger, that is not a misprint. Our annual budget is about $4 trillion, so if we fired everyone and provide no services, other than paying interest on the debt, it would take about seven years to pay it off. These balance budget chest beaters need to be told bluntly – nice try, but not enough. Keith

      • What does worry me, is one day someone, somewhere is going to start A Mega-Panic by asking:
        “Yes, but I want our money back now….”
        “So where is this ‘wealth’ of yours? Show me the hard evidence in terms of gold, silver, precious stones, lands etc,”
        That should start a financial wildfire. (We came close in 2008- and it took….errr..socialist measures to sort it out)

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