The Morning Rant: Minimalist Edition

Fiscal Responsibility is a quaint phrase that is bandied about by mendacious politicians to get votes from Low Information Voters who like the way it sounds. But it is nonexistent in the corridors of power, and there will be a reckoning eventually. At some point the debt service of the federal government is going to overwhelm every other demand for our tax dollars, and cuts will be made. Social Security, Medicare, Medicaid, CHIP, defense, Tax credits, veterans programs and many more will be on the chopping block. Not federal pensions of course, because we are not savages, and the maintenance of the standard of living of our dedicated federal civil servants is the most important function of the federal government (need I say it?).

There are some rational ways to manage the monstrous federal debt (currently sitting at $35 trillion). The first of course is to stop spending. The first step would be an across-the-board halt to any budget increases. 0% growth of the federal government. Considering the ridiculous growth over the last several years has bloated every budget, that should be easy. But that won't fix the yearly deficit, which currently sits at about $2 trillion. Sure, we can grow ourselves out of that, but it will take a long while. Even assuming a decrease in that deficit in the coming years, the increase in the total federal debt will remain significant for many years.

Shockingly, there are a few positive developments on the horizon! Imagine Elon Musk or Vivek Ramaswamy with authority over a few of the most bloated departments! Or RFK busily cutting divisions at the FDA! Or for that matter a few fighting generals controlling the defense establishment and refocusing our defense spending to actual fighting ability rather than teaching the Marines how to walk in 4" heels and a little black cocktail dress.

The opportunities for savings are literally everywhere, and all it will take is a president who is focused on the budget as a real, possibly existential issue for America. I do not think that Donald Trump is that man, especially since he has been successful in an industry that is dependent on and comfortable with large amounts of debt. But there is some spending that can be cut in service of his declared mandate to end much of the insanity of the federal government. That will be a good start, and hopefully he will get a taste for cutting!

[Crossposted at CutJibNewsletter]

posted by CBD at 11:00 AM

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