If you run out of money, is it because you made too little or spent too much?
This year the government took in more money than any other year, more than any other country on any planet, moon, or astroid in the history of the galaxy. Yet, it was not enough. When will the overspending stop?
Maybe when we eliminate duplication. A 2011 report shows the federal government had 82 teacher quality programs, 56 in financial literacy, 44 overlapping job training programs, 20 programs for homelessness, 18 nutrition assistance programs, etc. Total annual cost: $200 billion to $300 billion, or two to three times this catastrophic sequester.
Maybe the overspending will stop when automatic increases are brought under control and we have a budget.
By Jack Van Zandt
In the last four years, the average annual increase in the transportation departments spending averages 8 percent. Education is up 6 percent, General Government up 6 percent, and Regional Redevelopment up 10 percent. Without a budget, these will continue to grow out of control.
Maybe overpsending will end when Cadillac conferences are brought under control. Records show the Department of Defense spent $89 million on conferences, the VA spent $72 million, the Justice Department spent $58 million, HHS spent $56 million, and $63 million for others.
With a cost of $180,000 per hour for Air Force 1, maybe overspending will stop when fewer trips are taken. We do have low-cost Internet conferencing available.
Maybe overspending will stop when government ceases trying to run businesses and our states.
More than 50 green energy companies receiving money from government are bankrupt or in trouble, with more than $16 billion lost.
Hundreds of millions of dollars are used by states and the federal government to sue each other over border security, gun control, and Obamacare, which has yet to have been completely thought through.
Government has no money, no wealth. Its an empty suit. The money it has, it takes from us and our economy. The more it takes, the less remains for us to use to create wealth. When the government gives you $1, rest assured $1.35 was taken from someone else.
Government also decides what is important and where to spend money.
If our leaders decide to pay for wasteful spending, then explain how a 1.4 percent reduction in their automatically increased budget will slow air travel, prevent deployment of an aircraft carrier, reduce health care workers, require the release of prisoners, cause teacher layoffs, etc.
In each of our serial crises, from TARP to Stimulus to Sequester, the common theme is we need more of your money.
More taxes for the rich. Fewer deductions for the middle class. More borrowing from anyone. Oh, and lets look at the money you have in your 401K. Cuts are almost unacceptable.
Government has become a behemoth, so big and expensive and open to influence and fraud, theres no longer enough money available to pay for all it promises.
Continuous borrowing masks the problem, and sadly, our grandchildren will find the truth when the sky really does fall.
We have run out of money because we spend too much.