Congress does not know how to manage money. That is a plain simple fact of life that simply cannot be rationalized away no matter how hard one tries (and Congress critters try). They have shown it time and again by spending more than we pay in taxes and then raising taxes to cover their inability to manage money. They continue to raise taxes and spend more until someone comes along and manages to get taxes lowered.
Then revenues increase and what happens? The Congress spends even MORE!
Social Security is another example of their inability to manage money. They extorted money from our paychecks because we are too stupid to save for our own futures. Then they supposedly put that money away to actually pay us when we retire. The problem is, Congress saw trillions of dollars sitting there gathering dust while waiting to be paid to retirees and decided to add it to the general fund and, you guessed it, spend it. The so called Social Security trust fund holds nothing more than nearly three trillion dollars in IOUs that are worthless.
Sure, they are backed by the full faith and credit of the US Government but there is little faith in our government because we borrow 40% of every dollar we spend.
We now have another example of the inability of Congress to manage money. Congress has raided the money that is supposed to pay for Obamacare. Millions of dollars have been taken from the Obamacare funds in order to pay other bills or to spend on one pet project or another.
I think Obamacare will be ruled unconstitutional but if it is not what happens when it comes time to pay for it? What happens to this magical law that is supposed to pay for itself? What happens to that cost curve?
Congress will claim there is not enough money and that taxes need to be raised or services cut or both.
All because Congress cannot properly manage money.
We need radical change in DC and we can start by replacing all those members of Congress who have been there more than one term.
Source:
Washington Times
Cave canem!
Never surrender, never submit.
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