Sunday, July 15, 2007

Cutting back

Interesting to see WaPo editors condoning without knowing the full extent of its remarks the coming crisis in our national budget.

Addressing what the Democratic governor O'Malley of MD is doing, by making huge cuts in advance of raising taxes, there is anticipation of what will have to be the next step in our country's budgeting. We cannot keep running up national debt and running down the dollar's value. The Republics cannot continue to devalue this country in their reckless fiscal and other policies.

AFTER SPENDING the better part of a decade in denial, Maryland is gradually coming to grips with the fact that it's been living in a fiscal fantasyland. Faced with a $1.5 billion gap between projected income and expenses in a budget of about $15 billion, Gov. Martin O'Malley (D) has begun chipping away at the problem, starting with the outlays. Predictably, he is under attack -- from liberals and unions who say the cuts are pitiless and cruel and from Republicans who say they don't go far enough. That's a good sign that the governor is on the right track.

The hole in which Maryland finds itself was dug mainly by previous Democratic governors and lawmakers, so it's only fair that Mr. O'Malley and the legislature's current Democratic leadership should figure a way out. The original fiscal sin, nearly a decade ago, was to cut taxes when it was clearly irresponsible to do so; that misstep was compounded by massive new spending on education and soaring health costs. The result, loudly and repeatedly forecast, is the so-called structural deficit with which Mr. O'Malley is now grappling.
It's fair to expect more trims plus some combination of higher taxes on high-income earners, corporations, services and sales, among other targets.

Okay, the WaPo board had to take its dig at the responsibility of the Dems for health care costs soaring, which is totally unfounded. Its tax cuts were based of course on the fiscal health that looked like it would go on forever a decade ago, before the cretin in chief unaccountably fooled enough of the people to get into office, and go on its tear of ruining the national economy.

It's true that belt tightening looms ahead for all of us, and when we get a Democrat into the presidency it will have to start. We can look forward to that and start working for it now. The country deserves a chance to get back to individual prosperity for all of us.



Blogger WGG, Rogue Scholar & Tokin Lib'rul said...

Hi ruth...
'prosperity for us all' is rhetorically more or less equivalent to the sustainability of our current standards of living and consumption.
nothing about them is remotely sustainable.
the people may, in fact, find that sever reductions in their expected SOL (Standard Of Living/Shit Outta Luck) are far more odious than the subversion and reductions of their political liberties.
if a Dem prez is seen to be the source/cause of that (necessary/inevitable)reduction/constriction of 'wealth,' there's every likelihood (mho) of a REAL revolt.

11:11 AM  

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