Strangely, hidden or overlooked in all the reportage on the budget issues swirling around the questions concerning the spending limits was an overarching problem that our congressional representatives are seemingly ignoring; at least the Democrats are. The Republicans are at least making a stab at controlling the automatic spending that is Medicare, Obamacare, Medicaid and interest on the debt.
They are paying attention to the recent study by the independent Congressional Budget Office, which has really put spending in clear focus. The CBO points out that if nothing is done on these huge automatic benefits by 2035, these mainstay items will grow to the point of absorbing all the national income available, leaving nothing for defense, foreign aid and educational, medical research done by federal labs and payment of federal officials.
At this point, federal debt will be growing faster than the economy’s ability to pay for the growing total debt. Now, there is something to think about, which puts a different shine on the subject of spending limits that Obama does not want to talk about.
Now, who are the good guys?