Source:The New Democrat
“Maya MacGuineas, president of the Committee for a Responsible Federal Budget, joins “Squawk on the Street” to discuss the budget deal brokered between the White House and Congress, which raises the debt ceiling.”
Watch the interview at CNBC
The phrase they spend money like drunken sailors, gets used around a lot when talking about our Federal politicians in Washington, both in Congress and at The White House. Senator John McCain, ( RIP ) used that phrase a lot when he was still in Congress.
If you want to take that to the next level and make a politically incorrect ethnic joke about it, you could say: “they spend more money than Irish drunken Irish sailors at a Boston Irish pub.” And you could say if Democrats and Republicans and Republicans were Irish-American sailors, they wouldn’t put every Boston Irish pub out of business, because they would just drink every last drop force all of those pubs to suspend operations until they can get more whiskey and other alcoholic drinks.
Next week this blog is going to have a post about the death of fiscal conservatism and how most if not all fiscal conservatives in the Republican Party are either dead now and are MIA, perhaps were kidnapped by the new nationalist wing of the Republican Party that apparently doesn’t even like constitutional conservatism, let alone fiscal conservatism.
But the budget deal that was reached this week by the Democratic and Republican Leadership’s, was obviously bipartisan. We now don’t have any fiscal conservatives at least with any power in either the Democratic Party or the Republican Party and they all think in the moment and what’s happening now and apparently couldn’t care less ( to be way too kind ) about the future of the country, at least as it relates to the economy and our fiscal outlook.
To paraphrase Senator Rand Paul, ( something that I rarely do ) when talking about Washington spending and Congressional spending bills: these bipartisan spending bills in Congress are nothing more than guns and butter. Republicans get their guns meaning more spending and increases in spending on national defense and other national security priorities. Democrats get their butter which is increases in medical research, Welfare spending, perhaps infrastructure. Each side gets what they want, as well as perhaps what they don’t want which is equal blame for their share in new deficit spending and increases on the national debt.
Another way to look at this bipartisan spending bill is with a hypothetical: imagine if you have a kid with bad teeth and a lot of cavities and you tell him or her that they can have all the cookies, candy, cake, and ice cream that they could possibly want, just as long as they brush their teeth everyday and go to the dentist twice a year: you think their cavities are going to go way, just because they’re now brushing their teeth and going to the dentist?
Democrats and Republicans, don’t care about the budget deficit and national debt and therefor aren’t going to do anything about it. But will compound the problem by adding to it and then telling their voters that they got what they wanted for them. Fiscal irresponsibility is a bipartisan political disease that both Democrats and Republicans have that’s spreading to the rest of the country that we have to pay for.