The Obama-Era Binge
One gets the sense, watching state and national politicians in action, that paying for things is by far a secondary or tertiary consideration. As Ed Achorn puts it:
The government will borrow 40 cents of every dollar it spends this year. Under the most optimistic scenarios, borrowing will continue at historically high levels, putting a severe strain on the dollar and either dampening or devastating the economy. The federal debt will rise to a chilling 90 percent of the nation’s economic output by 2020, the Congressional Budget Office reported Thursday.
Most politicians and most of the media do not pause to consider such things. They prefer happy talk about growing government through clever (often corrupt) maneuvers and passing out public dollars as if they were candy. If pols dwell at all on how to pay for it, they cite budget figures that are based on transparent gimmicks or they advocate taxing that man behind the tree. But nobody seems to be very seriously engaged in the unnerving development that we are aboard a runaway train and we’re rapidly running out of track.
Big-government spending is self-feeding, inasmuch as the recipients of the dough are sure to vote for the people handing it over to them. Our only hope, it seems, is for folks with less direct incentive to get involved and push governance back toward status as an adult activity.