Getting the Feds to 20% of GDP
I thought this Federal budget proposal by TJIC was interesting for a couple of reasons. Not the least of which is the sight of TJIC trying to be reasonable and compromising. Libertarians (as with other political extremists, and make no mistake we are extremists) tend to skew between those who want anarcho-capitalism and will accept no less and those who seek for improvements at the margin, believing that the world is only going to change so much. I would normally put TJIC in category 1 but it is interesting to seem him delve into category 2. Even I, normally a category 2 guy, can't totally get behind this plan as there are just two many programs, in the words of David Stockman, that need to be zeroed out.
Dr. T:
In 1965 federal government spending was considered by many to be excessive when its equalled 17% of a much lower Gross Domestic Product (less than 3.5 trillion in current dollars). Now federal spending is over 45% of a nearly 15 trillion dollar annual GDP. In two generations, inflation-adjusted federal spending grew 11-fold in actual dollars and nearly 3-fold as a percentage of GDP.
Budget revisions will not significantly reduce federal spending. To cut current spending by over 50%, we need a radical change of public beliefs about the role of its governments followed by a massive overhaul to slash federal programs. I do not believe these will happen until we are in worse economic straits than Greece is in today.
November 12, 2010, 5:28 pmIgotBupkis, President, United Anarchist Society:
I tend to concur with Dr. T -- I don't think there will be any changes until things collapse. People are in full denial mode, and that won't change until there's a true crisis.
I can only hope there is an America -- in the historically relevant sense, not merely in name only as is much more likely -- when the dust settles.
As the apocryphal ancient Chinese curse goes: "We Live In Interesting Times".
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For my money, one of The Most Important Things to add to the New Constitution is that, in general, with very few exceptions, if it's illegal for an individual American to do it, it must always be illegal for a bureaucrat or agency to do as well.
As a direct corollary to that, ALL government agencies (top to bottom, federal, state, and local) should be absolutely and utterly required to do all their business -- budgeting, finance, etc. -- using GAAP principles.
I'd also prevent anyone receiving a direct government paycheck from having a vote while receiving said paycheck. Government employees, as well as those on the dole, should be denied their franchise.
November 13, 2010, 7:19 amIgotBupkis, Official Proofreader To The Stars:
Also, as the old saw goes -- if 10% is enough for God, why does the government get/want 20% again?
November 15, 2010, 11:28 am