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Elegy on a Budget Compromise

I’ve tried holding my tongue on matters political for over a year, but after a month of witnessing Washington’s attempt to pass the 2011 budget, which a Democrat-controlled Congress was too “busy” to pass last year, and after watching a government shutdown be averted by legislation passed less than one hour before the midnight deadline, I simply have to say something about numbers, courage, and Defense Secretary Robert Gates. Why Gates? In my opinion, had it not been for Secretary Gates’ well-publicized explanation to troops in Iraq as to how their paychecks would be affected by a D.C. shutdown, I’m not so sure Congress would have recognized what a dangerous game of brinksmanship they were playing. After the Gates revelation, it was clear that both parties could win nothing but national disdain had the issue not been resolved.

It’s simply too much to watch the self-congratulatory fist-pumping and rhetoric emanating from Washington once LAST YEAR’S budget was a done deal. We are so not out of the woods. Like much of the western world, the U.S. is still lost on a very dark financial path that will ultimately crush the private sector: the now-heralded $3.8 billion in budget cuts are merely crumbs from a not-so-tasty pie.


At the start of this ridiculous “negotiation,” the Republicans wanted $39 billion in budget cuts and the Democrats wanted $0. So I guess you could say that the Republicans “won.” In my opinion, you have won nothing when a budget, which in the last two years has become so inflated with new government bureaucracy, leaves a $1.65 trillion deficit to add to the more than $14 trillion dollar debt that now threatens to collapse our currency and bankrupt our country. The folks in Washington are acting as if they are clueless that nearly half of the budget will be funded by borrowing from abroad or printed by the Federal Reserve . . . a sure prescription for hyper-inflation. Today our debt is larger than the combined economies of China, the United Kingdom, and Australia combined. Good grief! What kind of out-of-control government is it that keeps coming up with new programs to fund when we’re BROKE! Why is the press more interested in writing about celebrities than the fact that Moody’s is about to downgrade our debtworthiness, which will itself add more debt? it certainly isn’t fun to read about, but if you want to learn more about the debt,
click here.

The state of our economy, the inability of our elected representatives in Congress to craft a reasonable budget, and the Obama administration’s outward hostility to the private sector, along with its zeal to grow the public sector until there is nothing left of private enterprise, occupies my mind much more than it should. It makes it hard for me to write about the good things going on in the photography industry. I know that this is an unpleasant and unpopular subject for many people, but I still believe it’s important to know and write about. So as of this posting, I’m transfering Polinomics postings to a new Polinomics Blog on this website. If you’re not interested in concerns about the intersection of politics and economics, just don’t go there. In my present state of mind, I might not go there either.