Monday, July 22, 2019

The Emerging Budget Deal


For nearly forty years the Responsible Faction has told us that balancing the budget ‘this year’ would bring about the collapse of civilization. ‘But soon, yes, in a few years, we will balance it. But not now: Banks would be embarrassed, the economy would collapse. Millions would die.’

If we had ignored the Responsible Faction 35 years ago, balanced the budget, suffered the short term problems, and continued to ignore the Responsible Faction, we’d be in far better shape today.

Instead, we submitted to the Responsible Faction’s wisdom, because they spoke with great gravitas and wore expensive suits and had impressive credentials and spoke with great authority and now we have over twenty trillion dollars in federal debt which very likely will be paid off with highly inflated dollars which crush the value of our own savings into worthlessness.

Then we will find out that the experts were every one of them marching stark naked in a blizzard and no one had paid attention to the foolish children snickering and pointing and exclaiming at the naked fools in the snow.

So let the federal government run out of money, and grimly rejoice as Department after department shuts down and interest on the debt is unpaid as that would would do the best of all things: drive the federal government out of the credit markets for decades. There is no good way out of the mess we voters and non-voters alike have created for ourselves, and we are the ones who should suffer for our irresponsible voting habits and submission to the Wisdom of Experts. Better sooner than later, when the debt is forty trillion or fifty, because we were too foolish and submissive to bring down the Experts when the debt was three trillion, or when it was five trillion, or when it was ten trillion, or even fifteen.

If we continue to submit to the Wisdom of Experts with Gravitas, the eventual result may make the Terror of the French Revolution look mild, and none of us needs that.

WaPo on the emerging budget deal.

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