The idea that the Federal Government should slash spending by 10% in every budget account would be so terrible as to force lawmakers to a compromise on spending is more than just ludicrous. It is insane! It is especially insane when you consider that this is precisely what the so-called Tea Party people want. It is, however, not what the majority of Americans want, if you consider a recent Pew poll reflective of the desires of the American public. The American public wisely views that spending in 18 of the 19 categories polled should remain the same–or even be increased. If this were a real democracy, their views would be reflected in our Congress–but they are not.
The Tea Partiers hate President Obama, because he is a centrist, not a liberal. He has advocated a “balance” of revenue increases and spending cuts. This makes too much sense. Less spending on Cold War armaments, i.e., 350 tanks the military does not want, because it has thousands of tanks in moth balls in the desert. But Congress insists they buy [more. President Obama would rather] split the savings between debt reduction and infrastructure the Country does need. That is simply too rational.
Congress could spend more smartly. They could imitate Japan on health care and allow the government to set the prices for health care providers of medicine, medical equipment , medicine, and health services. [This] would almost immediately balance the budget, especially since health care, like food and water, is not something you can reasonably do without. And since you can’t do without it, they can charge anything they want with seeming impunity.
Congress could increase funding for the Food and Drug Administration to speed up drug approvals and improve food safety, which would mean less illness and save money.
Congress could spend more money on law enforcement to protect our borders, to ensure taxes are collected and Medicare fraud is reduced. But that would be too sensible; better to cut their budgets by 10%.
Congress could decide to tax investment income at the same rate as it taxes work income. Isn’t working just as important as investing? This would help balance our budget.
Congress could pass a ten cent tax per hundred dollars financial transaction tax on stocks and bonds, like 11 European countries have done. [This] would bring in an additional $100 billion in revenue every year. [It would,] in essence, be making the jerks responsible for the 2008 financial melt-down pay back some of their ill-gotten gain!
Or, better yet, if they don’t, we need to sequester stupidity and elect 10% fewer Republicans to Congress, so we can return to at least a semi-rational government.