Last week while flipping through the channels (on the rare occasion that I actually had control of the TV remote), I came across C-SPAN's coverage of the Senator Panel on Deficit Reduction led by Senator Kent Conrad (D-ND) of the Senate Budget Committee. It was already in session, so we missed the beginning, but caught most of it.
Normally, I would flip on Fox News, but this was kind of interesting. Since when does this crew care about reducing the deficit? Eventually, TCGuy entered the room and began watching, too.
I have tried to keep this post as short as possible and will only hit some major points.
1. The federal debt is approaching the current $12 trillion limit, and Congress must raise it before the end of the year or the Treasury will be unable to borrow to finance government operations.
2. The Senate Budget Committee chairman said a group of lawmakers would agree soon to a proposal for a bipartisan commission to force reductions in federal deficits, hoping to attach it either to must-pass legislation raising the nation’s debt limit or, failing that, to the pending health care bill.
3. There is a split in the House on whether or not a commission should be formed. Many House members, including Nancy Pelosi, are against it. Others are in favor of it, including Steny Hoyer and the Blue Dogs (is that a new bluegrass group?).
4. It is being decided if this proposed bi-partisan commission will be a mix of elected officials and non-government experts or only elected officials with input from non-government experts.
The travesty of all of this is the fact that these imbeciles are the same people responsible for the outrageous deficit. They are the ones who cannot control themselves from spending money like water; money we do not have. Why are they just now coming to the conclusion that something has to be done?
It's sad to think that a "commission" has to be formed to TELL these idiots to stop spending our money. This is going to be interesting, because some of the cuts they will be told to make are going to be in entitlements. I suppose the leaders can blame the "commission" when people realize they're not going to get their medicare or social security (that is the sentiment of some liberals).
All this worry about deficits, while planning to pass a gigantic program like ObamaCare. These people are insane.
If you listen to some of the C-SPAN video, you will hear our leaders in the Senate talk about how our Congress is unable to control themselves and curb spending on their own. They need somebody (a commission) to tell them what to do. Is this for real? I guess so, because We The People have been telling these morons for years to stop spending, but they haven't gotten the message yet.
You'll also think you're listening to Glenn Beck, the "fear mongering alarmist nut job", when you hear the Senators tell how bad the deficit is and how our country is going down the toilet. They can thank themselves for that one. Are they just realizing this?
Don't get me wrong. I think they need to address the deficit; they should have been doing it all along. And I am sure some of the leaders involved have been trying to do the right thing. But I am just so ticked off that they have waited to get to this point to do something about it and I find it absolutely outrageous that they need a "commission" to do it. The sad part is, it may be the only way; I don't know. They love their pork and, short of the Mafia being part of the "commission", I don't think it's going to be an easy job to convince these spend-thrifts that they need to put an end to their wasteful ways.
I'll tell you what they should do, they should all lose their jobs, be made to join Debtors Anonymous (or sent to jail), and new, fiscally conservative people given their jobs. How does that sound?
One of the non-government panel members is David Walker, former U.S. Comptroller General (1998-2008). I've included a video of him from the show, 60 Minutes, which aired on August 28, 2007. Listen to his warnings. After you watch the video, you can see his November 10, 2009 testimony in front of the Panel on Deficit Reduction at the C-SPAN link below.
The Comptroller General of the United States proclaims that our current standard of living is unsustainable unless drastic action is taken. He warns that funding shortfalls for the Medicare program is five times worse than Social Security, and it will take $8 TRILLION to pay for what is promised today to beneficiaries, of which we have ZERO!
This unrealistic "promise" is fiscally irresponsible and is mortgaging the futures of our children and grandchildren.
Watch as the federal government's dirty little secret is revealed!
August 28, 2007
See David Walker's testimony at the link below (scroll down to minute marker 0l:02:38).
C-SPAN Video of Panel Discussion
You can catch the entire meeting at the C-SPAN link. It's worth clicking around and listening to some of these guys...if only to scream at your computer screen to get your frustrations out.
Oh, and President Obama is beginning to come around to the idea of reducing the deficit. Do you think this could have anything to do with the November 3rd elections? Makes you want to say hmmm.....
More information:
New York Times Article: Senators Back Panel On Deficit Reduction
I've added the articles below so that you can get a feel for what people are saying about this "commission", including the libs.
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My understanding is that China has put pressure on the administration about it. And, as China just about owns us, we must DO SOMETHING NOW!
ReplyDeleteOpie:
ReplyDeleteNo doubt China is playing a big role in their decision to reduce the deficit. It sure can't have anything to do with Congress deciding on their own to do the right thing.
No doubt China is impacting this big time. How sad is it that we need a communist country to tell us how to manage our money?
ReplyDeleteI say we should fight the raising of the debt cap without a balanced budget. We need to get this under control right now. Even if our government grinds to a halt. I'm willing to wait a month or two for a paycheck, if that is what it takes.
Trestin:
ReplyDeleteChina owns us now, so we are at their mercy.
It's scary to think that the Congress is going to raise the debt level because we are so deep in debt now that there is no end to it.
They do not know the meaning of "balanced budget"...not in their dictionary.