The U.S. is bankrupt. Of course, Uncle Sam has the power to tax. But at some point even Washington might not be able to squeeze enough cash out of the American people to pay its bills.
Uncle Sam is essentially broke. But the federal government keeps spending. The House is voting this week on a measure already adopted by the U.S. Senate to suspend money-saving reforms adopted less than two years ago.
Americans then need to have an adult conversation about the budget. Too many people expect to live at someone else’s expense through Washington. Which is why the nation faces financial ruin.
Any American who travels must deal with the Transportation Safety Administration. The Bush administration made many mistakes in dealing with the attacks of Sept. 11, 2001. Creating a government monopoly to handle transportation safety was one of the worst.
Last fiscal year Uncle Sam had some budget good news. After running $1 trillion-plus deficits four years in a row, Washington had to borrow “just” $680 billion in 2013. True, that was the fifth highest deficit in history, 50 percent greater than the pre-financial crash record. But it’s only the taxpayers’ money, so what’s the big deal?
The United States Postal Service has run up $4 billion in losses so far this year, on top of last year’s $15.9 billion deficit. Washington should get out of the mail business.
A miracle happened in Washington last week. Legislators failed in their attempt to mulct the public.
Is nothing sacred? In Washington the answer is no. As the last Congress sought to avoid the “fiscal cliff” and raced toward adjournment, the House refused to vote on a pork-ridden bill sold as aid for the victims of Hurricane Sandy. That triggered a splenetic outburst from Rep. Peter King (R-NY), who complained that the GOP stuck a “knife in the back of New Yorkers and New Jerseyites.”