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  • http://EasyOpinions.blogspot.com Andrew_M_Garland

    compromise noun.  Reconciling differences to find the middle way. When the Democrats want to take all of your money, and the Republicans want to take 1/3rd, then a compromise is taking 2/3rds of your money. It is commonly observed that our government runs on compromise, and that politics is the art of compromise, at least until the money runs out.

    • http://the-classic-liberal.com/ theCL

      And that's the illusion of political "compromise." The Establishment always gets their way and We the People get screwed.

  • http://uncertainoutcomes.blogspot.com/ Frank Koza

    You're exactly right that it's like watching WWE Raw. But isn't it all smoke and mirrors anyway? Could the whole never-ending budget battle be simply a diversion to keep us from seeing the ingenious ways they concoct to steal what little wealth each of us generates without us noticing, just as a street magician can slip the watch off your arm?

    The total national debt is just about equal to the annual GDP. It's big, but it's still a relatively small number in relation to the overall balance sheet of the economy. What about assets or total wealth? Think of the national budget in terms of your household income, budget, and balance sheet. How does your debt relate to your annual income and what's your net worth? Is it unmanageable? John Rutledge has a few comments that put it into that perspective:

    http://rutledgecapital.com/2009/05/24/total-assets-of-the-us-economy-188-trillion-134xgdp/

    • http://the-classic-liberal.com/ theCL

      Well, the government has a balance sheet. You do and I do as well. But "the economy" does not. Besides, why would anyone think your personal assets and mine somehow offset government debt? Are you saying the fedgov has a prior claim to everything you and I own?

      The same could be said of Bill Gates, who has oodles of assets. But what does that have to do with say, you filing bankruptcy? Do his assets offset your debts? Of course not.

      Private assets do not offset public debt.

      Second, the $16 trillion (or whatever) is just the current budget deficit. Taking into account unfunded liabilities, the fedgov's debt is around $220 trillion. If Generally Accepted Accounting Principles were applied to the government (as required of all private entities), the fedgov would be upside down somewhere around $400 trillion.

      Yes, it's a charade to bamboozle Americans out of more of their money. But the debt is very real. There will be a day of reckoning.

      • http://uncertainoutcomes.blogspot.com/ Frank Koza

        I'm not at all saying privately held wealth should ever be used to offset so-called 'public' debts. I'm saying the collusion between the compulsive liars in government and the MSM saying that's all we should be worrying about is all a show, a distraction.

        The real problem isn't the current debt or even current levels of spending it's the excessive crap that they're buying with it that are far outside their enumerated responsibilities.

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