So I'm hearing two opposing themes about the proposed federal budget cuts:
1) It's horrible because we are cutting into the bone and this is going to really hurt a lot of important government programs.
2) It's great because we have been spending money that we don't really have, and we need to finally reign it in.
Let's face it, we'll never get such drastic cuts across the civilian government unless this country goes into severe crisis mode--which never happens until it's too late and something terrible has happened.
If we even got half the cuts being proposed--which most people don't seem to believe will even happen--that would be significant and painful itself.
The truth of the matter is that we are facing enormous danger on both the national security and financial fronts!
- Militarily--Russia, China, Iran, North Korea pose huge threats including those involving weapons of mass destruction.
- Financially--We have a serious national debt to the tune of $20 trillion, an annual trade deficit of half a trillion dollars, and social security and medicare trust funds that are going bankrupt.
If we let these threats run their course, we will eventually have a crisis that will be truly nationally catastrophic.
So what's it gonna be--guns or butter--or national bankruptcy. ;-)
(Source Photo: Andy Blumenthal)