Something to think about…

On the House floor last night, Maryland Republican Roscoe Bartlett gave a fairly uninsightful speech defending the Republican budget by promoting platitudes along the lines of “times are hard and warrant tough decisions.” The speech addressed nothing specifically in the budget, but in a moment I found interesting, Bartlett said the residual budget deficits from year to year are so great and constant, that he thinks much of it is the result of spending that congress does not vote on. That would mean unauthorized programs and/or decisions being carried out by the government that is not initiated by congress. In a fairly pedestrian speech, this point seems fairly apropos since I was wondering the same thing… oh wait, were the 2001 and 2003 tax cuts authorized by congress? What about two wars in the Middle East? And what about the loss of revenue due to the banking meltdown, which was caused by the Financial Services Modernization Act of 1999 (Gramm-Leach-Bliley) and Commodity Futures Modernization Act of 2000. Social Security is more solvent than people realize; simply increasing the withholding a little would cover the baby-boomers, and Medicare is only on the rise because of health care inflation (which does need to be addressed). All in all, Bartlett either has a bad memory, problems with senility, or he’s distorting the record to benefit his caucus.

Advertisements

Posted on May 26, 2011, in Economics and tagged , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

What are your views?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: