One of my first forays into policy debate made me realize policy and money are inextricably linked. This connection is part of what enticed me to want to learn more about policy. If you want to change policy, you need money. Want to start a new program to implement or alter policy, money is required. The American People need to start paying attention to how politicians are spending their money.
It is stupid and you are letting it happen.
I have already suggested an apathy tax (Apathy is My Biggest Single Expense), but since that appears Utopian, I’m open to suggestions. Why do citizens not care how their tax dollars are spent? I am mystified? Both sides of the aisle spend like proverbial drunken sailors. We have run huge deficits for years in the name of, pick a euphemism, economic stimulus. Seriously? I really want to chalk it up to apathy or ignorance, but the more I think about it, I lean more and more towards, just plain stupid.
The President just announce he wants to “give” 500,000,000 (five hundred million or half a BILLION) vaccine doses to various countries. I am disgusted with Congress and the President giving away OUR money for anything, and it appears to be getting worse. It is a most magnanimous gesture, but we can’t afford our own policies, much less funding other countries shortfalls. To add insult to this injury, we (the American People) have to borrow this money to BUY these vaccines. And nobody cares, see why I’m leaning towards stupid.
The other big item in the news is “infrastructure” legislation which seems to have bipartisan support. Watch carefully, there will be enough pork in that bill to feed China for decades. The compromise number is around $1,000,000,000,000 (one Trillion = or one million, million). For what, to take care of roads, bridges and other infrastructure needs that we should have been taking care of since we built them originally. See article on Potholes. They must think we are too stupid to notice.
In reality, based on the little bit I have read of the proposed bill, it includes a whole bunch of stuff I would never in a million years include as infrastructure, but if the pig oinks, don’t argue.
People have to wake up, eventually. I hope. If this spending keeps up, it will not be long until we lose our reserve currency status (a big deal) and our money will continue to be devalued. We are in a world of hurt if interest rates rise. The interest payment on our current debt is one of the largest single expenses in our budget. If interest rates rise by a few percentage points, it will cripple our budget.
Rising interest rates, inflation increases, devaluation of the dollar may all come together for a perfect economic tornado. Taxes will need to rise simply to keep from debt default. To keep program funding intact, huge tax increases will be necessary. By that time, all the rich people will have moved or expanded tax loopholes to secure their wealth. Every working family will be forced to pay “its fair share” and maybe then, people will pay attention.