With passage of $3.5 trillion federal budget, GOP should declare bankruptcy
SAN FRANCISCO, CA --- The $3.5 trillion federal budget passed easily yesterday. There was little opposition--Why? Because there's no opposition party in America now. "Single issue" republicans destroyed the party, and thus shattered the nation’s cherished political habitat of checks-and-balances.
Like Chrysler corporation, it’s time for the Republican Party to declare bankruptcy.
Let me demonstrate why:
As I list the following three fiscal facts, most single issue Republicans will roll their eyes..
---With passage of the 2010 federal deficit, the U.S. will borrow nearly $9.3 trillion over the next decade -- $2.3 trillion more than the president predicted when he unveiled his budget request just one month ago.
---Or, an ever-expanding national debt that would exceed 82 percent of the overall economy by 2019.
---The Congressional Budget Office puts next year's budget gap at nearly $1.4 trillion. And this year's deficit is now projected to soar past $1.8 trillion, or 13 percent of the economy -- the deepest well of red ink since the end of World War II.
Up until recently, most republicans would consider fiscal matters plain boring.
Republicans abandoned fiscal discipline as a passion a dozen years ago. Instead an array of "single issues" consumed republicans, from top to bottom.
The party’s former president was obsessed with Iraq. The party’s congressional representatives were obsessed with expensive pet projects. The GOP’s grassroots were obsessed with social issues. None cared about fiscal issues.
Single issue republicans failed to see the big picture: And that is this...after they abandoned limited government, the voters rejected them (democrats are better tax-and-spenders). Being rejected by the voters, the other party, with its deep sinister socialist streak, has unleashed uncontrolled spending and government expansion, and intrusion at every level, including thought and speech control.
It's about checks and balances --- the core of American politics. It has been shattered. The hyper-spending mad dog democrats (not blue dogs) have been released into the halls of Congress.
Thank the Republican Party for that. The party must take full and complete responsibility for the passage of the 2010 Federal – uncontrolled, reckless and ultimately devastating spending – which began when they were in power.. Were in power.