The Deficit: Lead, Follow, or Get out of the Way!
Congress has surrendered its Constitutional responsibilities by placing our nation in great peril with unrelenting spending.
By Frank Ryan at American Thinker
The entire budget debate on Capitol Hill and at the White House is a charade.
What the White House and Congress do not understand is that if they do not get this one right, 2012 will be a tsunami of a wave election.
Our citizens know this debate on the deficit is insanity but apparently only a few in Washington get it.
While our Constitution delegates the budget to the House of Representatives in Article 1, Section 9, Clause 7, true power to set and define budgets rests with those that hold a nation’s debt.
Spending does not stimulate when debt is excessive. The very fiscal policy which gave the false impression that the economy can be manipulated by the government is going to be cause of the greatest fiscal implosion in history.
When governments spend to manipulate an economy, unintended consequences surface such as growth in entitlement programs, unrestrained growth in government programs, and reallocation of funds from future generations to the current generation.
This nation must adopt financial self-discipline before it is subjected to financial discipline by those who hold our debt. Cosmetic budget cuts will not solve our nation’s debt woes. Real change is required to right our county.
Frank Ryan, CPA specializes in corporate restructuring and lectures on ethics for the state CPA societies. Frank is a retired colonel in the Marine Corps Reserve and served in Iraq and briefly in Afghanistan. He is on numerous boards of publicly traded and non-profit organizations. He can be reached at FRYAN1951@aol.com.
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