Ribeye Steak, a Polish Waiter and Being an American

For the first time in a long while, my wife and I have the chance to get away alone for a few days.  We chose to go back to Williamsburg, Virginia.  It’s been great so far.  I love Virginia.  The history here is incredible.  Both sides of my family have roots in Virginia dating back to the 1620’s in Jamestown.  During our tour of the Williamsburg capitol building, it was all I could do to keep from getting the tour guide’s attention and blurting out that my great-great-great-great…grandfather sat right here (well the capitol was actually in Jamestown then, but why quibble over historical details) in the 1623 House of Burgesses.  I was sure he would be automatically impressed and ask me to expound on my great knowledge of what it means to be an American.  Being the humble man that I am, however, I didn’t want to make others feel as if they were lesser Americans, so I held back. 

Playing "Chicken" with the Country

Here comes the next chapter in our 2013 political crisis calendar – sequestration.  We’ll see who blinks first in this coming head-on game of chicken between the big-government do-gooders and the small-government do-it-yourselfers.  In an article titled “Defcon Hill” by Jeremy Herb posted today on The Hill, we learn that if we haven’t resolved the budget crisis by March 1, up to 800,000 civilian military employees will be impacted with furloughs.  These furloughs could be as much as one day per week the rest of the year – effectively a 20% cut in pay.  The Pentagon notes that because the President has the power to protect active military personnel, the civilian workforce is the only place to turn to respond to the forced reductions which will be required by sequestration if we do not come to a budget agreement by then.

I Say "Pedal to the Metal" As We Approach the Fiscal Cliff

In my previous post, I looked at the astronomical debt ($700,000 per taxpaying family) America has accumulated right now, with millions more in entitlement obligations per family coming.  If we are going to survive this fiscal crisis, we have to do three things and do them fast:

1.       Balance the budget TODAY and stop the bleeding.  It is insanity to keep piling on to a problem that is about to get away from us in the form of obligated payments alone.  We have to stop the interest growth, and running budget deficits for one more day is ludicrous.  If you don't hear the word "trillion" in a budget reduction plan, you're not hearing a serious plan!

2.       We have to pay down our $16 trillion national debt.  That means we really aren’t looking for a balanced budget, but rather a budget with a revenue surplus.  We need to do better than balancing the budget!

3.       Get focused again on being an innovative nation that produces things of value which other countries want to buy.

The Tax Man Cometh

I wish I could say I'm surprised that Obama thinks we can tax our way into prosperity without spending cuts.    Either he doesn't understand basic arithmetic, or there something else afoot here.

http://www.weeklystandard.com/blogs/mcconnell-burst-laughter-geithner-outlined-obamas-plan_664210.html

See earlier post for a dose of reality from the numbers.

Coming Soon - Uncle Sam Wants His Cash!

Today, November 29, 2012, I made the mistake of looking at the national debt again.  Hours later I’m still depressed.  If you haven’t taken a look at this web site (usdebtclock.org), you should.  It is sobering if you weren’t concerned already.  As the numbers spin upward at a dizzying pace before your very eyes, you begin to get a visual picture of the growing mess we are in. 

Deja Vu All Over Again

On August 3, 2011, I sent one of a life-long series of such letters to my US Representatives and Senators which they are duty-bound to accept.  This one was to Senator Mitch McConnell in the wake of the bi-partisan agreement to once again raise the national debt ceiling.  I meant what I said then, and I mean it now.  Republicans were banking on 2012, and it didn't work out well for us.  This letter, along with my previous post, really sets the framework for the next blog posts which will lay out some thoughts on the pending "fiscal cliff".

Senator McConnell, 

I’m extremely frustrated, but not surprised at this debt ceiling compromise.

Economic Thoughts That Still Apply Today

I was cleaning up some files today and found the following copy of a letter I sent to former Secretary of Education, Dr. Bill Bennett, on September 24, 2008.  I've had the opportunity to speak with Dr. Bennett a number of times on his nationally syndicated radio program.  I've sent him a handful of such letters through the years, and he has graciously read some of them on the air.  Following were my thoughts in the midst of the 2008 financial crisis and first Obama election cycle.  I still agree with them by the way (at least as applied in a secular sense without spiritual solutions), and they will help set the stage for some subsequent thoughts in a blog post on the "fiscal cliff":

Bill,
 I have been trying to call, but can’t get through.  All the analysis I hear is hitting on the symptoms of the current financial crisis rather than the root cause.