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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (28011)4/24/2008 3:50:47 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
As long as the government can 'create money' out of thin air... and spend as much as it wants to, continually running unbalanced books, then the politicians will do so.

Until this causes an eventual collapse.

Merely creating sub-optimal economic growth rates (as the politicians already have, for a very long time now!) will not be enough to stop the rain of deficit spending --- because the deepest problems created are all LONG-TERM, while all the incentives that bear on the politicians are SHORT-TERM.

Collapse/Crisis/Disaster will be enough to halt the deficit and over-spending parade... but only temporarily: It will (almost immediately) start up once again.

UNTIL and UNLESS the system of governance is STRUCTURALLY CHANGED to make over-spending and annual red ink much more difficult.

A Constitutional Amendment (changing the highest law in the land to make the politician's deficit spending much more difficult), banning annual federal deficits (except when President declares an 'emergency' which is then ratified by Congress) would force the over-spending into control.

Then, tossing out our malformed Tax Code, and replacing it with a new and cleaner, more loophole-free system would the the second, and final, step necessary for restoring America's growth potential.
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