What's Another $1.5 Trillion ? ? ?

Per The Associated Press, the Congressional Budget Office today projects another $1.5 Trillion budget deficit for our Federal Government, i.e., Main Street USA. (That is the equivalent of spending $1.5 million dollars each and every day for one million days.)

In realistic terms those on Capitol Hill will be borrowing 40 cents for every one dollar they want to spend.

And that $1.5 Trillion will bring our national debt close to the $14.3 Trillion allowed by law.

Not that nearing the debt ceiling has ever bothered Congress or the White House, regardless of who is in power, in office, etc.

Whenever the debt reaches that number allowed by law, they have almost always just amended the law and raised the glass ceiling.

Too bad those of us living on Main Street cannot do that - just write a letter to the credit card companies and tell them (i.e., change the law or rule) that our credit limit was just raised another ten thousand or so.

Politicians should learn, through looking at the past with clear 20-20 vision, that they need to let American business get on with it. There is really very little Congress can do to stimulate the economy compared to business.

The reason for a lot of prosperity in the 1990's was due, in very big measure, to the dotcom boom, not to anyone sitting in Washington D.C., just as the recession experienced following that high tide was caused by the dotcom collapse.

That boom in the 90's also set the stage for a lot of state budget woes as their income kept going up and so followed their next year's budget. However, the bust that followed caught many states with their proverbial pants down and they have never recovered, especially in the wake of the economic collapse of 2008.

While Republicans speak of all manner of budget cuts to assist in the problem, it will take more than that, as they cannot realistically cut the budget by thirty or forty percent, which is about what it would take to balance a one year budget, let alone make a dent in the existing deficit.

Perhaps each and every elected official (Democrat, Indpendent, Republican) needs to start at home.

How much of their office budget can (and should) be cut? Probably a good amount.

How many perks should they do away with that taxpayers foot on their behalf? Probably in the billions when it is all added together.

Congress should quit mandating what Main Street must do and mandate on themselves first.

Set a good example at your home state office as well as your digs on Capitol Hill.

Over For Now.

Main Street One