Spending Lunacy

This week, that popular American president the world loves to hate, unveiled the largest USA Federal Budget ever with proposed spending breaking the $3 TRILLION mark. This should not surprise us at all given the ever expanding nature of the USA federal government. We the people, who inherited and enjoyed a republic with a small federal government for almost 200 years, have relentlessly authorized and often demanded the expansion of government spending over the last 60 years. Politicians of both parties in the presidency and congress are now routinely elected largely on the basis of their plans to spend increasing boatloads of public money to supposedly cure all sorts of social ills while entitlements continue to spiral out of control. Partisan politics demands that the fault always lie with the opposite side but in reality We the people have betrayed the visions of the founding fathers. It is ridiculous to talk about balancing the Federal budget, which the media obsesses about, because $3 trillion in spending would require $3 trillion in tax revenues which amounts to an incredible extraction of private wealth. The truth is that Americans have been living way beyond their means for too long spending other people’s money through lax credit and social redistribution. The future is uncertain but on current path America is unlikely to lead the rest of the world in decades to come.