Table of Contents:
- The U.S. Government Shuts Down; How Sad Is That?
- Will the electorate tolerate reform?
I hear some people talk about a bipartisan solution to these problems, but I don’t see it happening.
The political pundits all say the electorate won’t tolerate real reform. They claim that if somehow the House declared it would only pass a balanced budget and begin to send spending bills one by one for the specific budget items the American people agreed were priorities, and stopped funding when the outflows reached inflows, there would be riots in the street. I don’t buy that. I think everyone would support paying for the military, key entitlements and government services, but I don’t think the politicians want to invite that kind of transparency or accountability to the system.
It’s all so absurd and so sad, and yet nobody believes there is any solution except to continue on the same unsustainable path. Obamacare is a great example. Contrary to the earlier pronouncements, we’re now told that the number of uninsured in the U.S. may be nearly twice as large as projected. In addition, the fear is that healthy young people, whose participation in Obamacare is necessary to pay the tab for older participants, are more likely than previously thought to ignore the program and just pay the fine. That would make the system far more expensive and less sustainable.
The Washington Beltway has learned one valuable lesson through all of this. That is that any attempt to return to fiscal sanity is political suicide; the belief is that the only way to stop the runaway train is to let it derail and then pick up the pieces afterward.
I hope they’re wrong, but the only thing I’ve learned is that fiscal responsibility and bipartisan solutions in today’s political environment are akin to peace in the Middle East. They are all noble goals, but they have a snowball’s chance in Hades of ever happening.