Out Of Conrol Spending (and this is a LONG one)

http://www.usdebtclock.org/

I posted the debt clock so you can see just how quickly the funds are going out and how slowly they are coming in....


When I (and most other responsible families out there) create a budget for myself, I account for everything.  I have to know how much is coming in, but MORE importantly how much is going out and where it is going...  If I fail to set a responsible budget I have to go with out things I want or possibly even need, or I have to "borrow" the money from someone.  This is a pretty common story I believe. Everyone has been in a tight financial position at some point in their life...

So this is my question... Who thinks the best way to pay for your debt is buy borrowing more and spending more without a comprehensive plan to repay these loans?  A show of hands please.... Anyone? Anyone? 

And here we thought we had voted intelligent people into office. 

There are a slew of problems that are involved with the current budget plans.  I mean where do I start... Let me prioritize.
1. Earmarks and Pork
2. Foreign Aid
3. Entitlements
4. End of year spending rush
5. Taxes
6. Insert your own ideas here

1. Earmarks and Pork Spending- Why do these even exist??  I mean states impose their own taxes.  This is like welfare for the state government!!  Why should federal dollars be responsible for funding state projects?  I realize 9 out of 10 times its used to buy a vote for something... But why can't we have politicians just vote for something based on its content not for the throwbacks?  If all pork spending was eliminated across the board, there would be an unprecedented leap of equality between the states. And this is just for starters...

2. Foreign Aid - So we are a "rich" country right?  I have to put Rich in quotation marks because that is relative.  We have many many rich individuals and companies compared with third world or developing countries, however we no longer have a rich government or treasury.  We are on the brink of bankruptcy as a nation. We have disaster victims all across our country... And yet, here we are gifting money to countless countries across the world for countless reasons. Why do we do this?  Because the rest of the world expects us to.  Let me give you a couple examples...  China receives about $27 Million in U.S. Aid and they own $1.2 Trillion of U.S. Debt, Mexico receives about $317 Million in U.S. Aid and they own $33 Billion of U.S. Debt,  Japan received over $275 for the earthquake/tsunami but they own over $880 Billion of US Debt... and the list goes on.  Let me break this down further.  Here is an example... I go to the bank and get a personal loan for $5000 with a 10% interest rate.  Then the bank is set on fire.  I then gift the charity set up for the bank $1000.  Now I am out $1000 of that loan which I will have to re-borrow because I needed it for myself in the first place..  And I still owe the bank $5500.  So in total I will have given said bank $7500.  Does it make sense people???

3. Entitlements - Social Security, Medicare, Medicaid.  All of these programs that are unsustainable at their current rate without a MAJOR overhaul... Need  I say more?

4. End-of-year spending rush - This is one of my favorites because people don't think about it.  Especially if you have not seen it happen.  Here is the deal if you don't know... Every government agency is allocated X dollars for their quarterly or annual budget. When the end of the year comes around there is a mad dash to ensure spending of EVERY LAST DOLLAR!  This is to show need.  If you NEED the money the government will continue to GIVE the money.  I can not even describe the amount of waste that is involved in this last minute spending.  In a time where the government is hurting for funds does it make sense to do this??  If you don't Need the money, STOP SPENDING IT!!!  This is where the concept of $1000 toilet seats come from.  I see it in the Military EVERY YEAR!  It's all about logistics, but its not right.  This is the selfish and  warped idea of "well I didn't need it this year but WHAT IF I need it next year?"

5. Taxes - Yep.  So lets say I am a homeowner.  I want to rent my house. I find a renter to pay $1000 on this home.  Then I run into financial difficulties because I don't know how to budget.  So then I decide when his contract is up I will raise the rent to $1500.  Then raise it another time and another time just to supplement for my lack of self control. That is an extremely simple way to put what the government is doing to tax payers.  Just keep squeezing and squeezing.  I love the quote by the Obama solicitor general: “If you don’t like mandate, earn less money"  Wow... I mean really... Wow.  That's the epitome of capitalism right there.


6 - Everything else.  I know you can come up with your own ideas of out of control spending.  IE with (non) WARS or with subsidies or with government employee/retiree pay and benefits.  Please feel free to express your thoughts in the comments section!  I look forward to reading them! :)


Anne Northup " (teenagers) and Democrats have a lot in common (they) are always happy spending other people's money."