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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Big Black Swan who wrote (491354)	6/18/2012 2:05:36 AM
From: goldworldnet	4 Recommendations Respond to of 793843

I'm optimistic about Romney and hope he will be better than Bush, but to point out how bad things have gotten, the United States has literally entered an era where congress no longer passes budgets. * * *

To: Big Black Swan who wrote (491354)	6/18/2012 8:19:43 AM
From: skinowski	1 Recommendation Read Replies (1) \| Respond to of 793843

>>>> Once a spending program gets launched it developed a constituency of supporters who will do anything to keep the cash flowing. They lobby, bribe, spread propaganda - whatever it takes to keep the program alive. The majority gets bought off <<<< The last statement is where the problem seems to reside. Buying off the majority is very expensive. There is a vicious cycle at work - Congressmen keep making deals, and those deals run up big tabs. If you agree to vote for my (barely needed) medical center, then I'll vote for your bridge, or railroad to no particular place. By the time all special constituencies are pleased, the printers end up humming full speed. Today, in the age of computers, it appears possible to hide more debt more effectively - in a variety of bonds, swaps, derivatives, etc. So, we can enjoy borrowed prosperity a little longer. But the end will be the same.