>> Tuesday, April 14, 2009
Remember when $750 BILLION was a lot of money? Well, hidden in last weeks love fest for the President, is his agreeing to send $750 Billion to the International Monetary Fund. Where will we get the money? I don't know and I don't think Obama cares.
You know, the best thing to do when you are out of cash is to stop spending! The Chinese aren't buying many of our T-bills and the UK and Germany can't sell theirs. The bill is coming, Mr. President, and soon our creditors will expect payment.
Here's what I would do:
- STOP GIVING MONEY AWAY! That includes earmarks.
- Sell Amtrak and allow private companies to provide rail service. Congress has enforced a monopoly long enough. Then, instead of a tax drain because bureaucrats don't know how to run a rail road, there will be tax revenue from those that do.
- Sell NASA and allow private companies to launch space vehicles from US soil. The US Air Force already has more space launches than NASA and can easily accept any strategic assets.
- The Federal Department of Education hasn't done anything except inhibit education since the Carter administration. Each state has their own bureaucracy and a Federal department is redundant. Every time local and parental control has been tried, it has succeeded. Get government out of the way.
- Scale back OSHA. It has gotten well past it's mandate and is more about paperwork than actually caring about worker safety.
- Here's the big one - entitlement spending. Medicare, Medicaid and and Social Security are half to two-thirds of the Federal Budget. All other budget reductions are minuscule in comparison. The Federal government's role is to provide for civil and national defense, protect interstate commerce, diplomacy & international treaties, and a common legal framework. All other programs are optional. Currently, 12.4% of your paycheck goes towards Social Security and Medicare. Because Congress has stolen, I mean, reallocated the surpluses from this fund EVERY YEAR, there will come a time when there are more benefits being paid out than is being garnished from your paycheck. It depends on when a large mass of Baby Boomers want to retire, but analysts estimate that it will happen within a few years. One of two things will happen then, benefits will be reduced or the money will be reallocated from other areas.
- Farm Bill. What do I need to say about a program that pays farmers not to farm, or promotes farming illogical crops. Oh, and this bill may be one of the main reasons a small (less than 250 acres) farmer cannot make a living. This bill encourages large farms and corporations.
- Department of Housing and Urban Development. Unneeded at the Federal level. Let local communities do things in their own communities.
- I know there is more. What would you do?