I’m started to be convinced that the passage above is the key to all the problems that we’re facing and all the smoke being blown by top-line Democrats and Republicans. Despite the hole we’re in – and the mounting evidence that carrying massive debt loads kills economic growth independent of interest rates and other things – all they talk about is spending more (on education, defense, unemployment, Medicare, what-have-you) and making credit easier for the right kind of people (Dems and Reps differ on the specifics). That’s why both budget plans from both parties goose spending, despite a dozen years of massive increases.
Yet deep down, in their heart of hearts and brain of brains, they know that we need to pull the plug on historic increases in spending at the federal level. “Once we get past the present emergency…” – by which Obama and Romney, the Dems and the Reps, mean the perpetual emergency, which they hope to maintain from now until doomsday. Because when the emergency is over, so is the party.