Opinion from a Libertarian ViewPoint

The Dreaded Government Shutdown – by Robert Ringer

Posted by M. C. on December 26, 2018

The truth is that there’s a very credible budget plan to avoid raising the debt ceiling.  It’s called:  CUT SPENDING!

by Robert Ringer

The average low-information voter, who depends on getting his news from the FNM, is trembling in his shoes right now because the life-ending government shutdown he has heard so much about has finally arrived.  How in the world can the United States possibly survive such a calamity?

But let’s get serious:  Every reasonably well-informed individual with an IQ above 32 realizes that a government shutdown is not only not a bad thing, it’s actually a positive.  Let’s face it, the only way to stop government spending and borrowing is to close shop.  And, amazingly, when that happens (as it has 18 times in the past), the anti-Armageddon truth is that the average person is totally unaffected!

While the amount varies from month to month, the government brings in, on average, about $200 billion a month from (mostly unwilling) taxpayers and pays out, on average, about $20 billion in monthly interest charges.  That’s a tenfold coverage.

Second, Social Security and Medicare are easily covered by government revenues each month, at least right now.

Third, there’s plenty of money available to meet our current military obligations (though we need a good debate about how much military we really need to properly defend our country).

Fourth, everything that’s left (about 30 percent of scheduled expenditures) can be prioritized, with the only question being who should make the decisions as to what goes at the top of the list and what goes at the bottom.

Former Secretary of the Treasury Timothy Geithner once insisted that the notion of prioritizing payments is futile because the debt limit must be increased regardless of which spending path is adopted.  He boldly stated that “there is no credible budget plan under which a debt-limit increase can be avoided.”

That, of course, is status quo thinking — and patently false.

The truth is that there’s a very credible budget plan to avoid raising the debt ceiling.  It’s called:  CUT SPENDING!  Politicians don’t want to hear about it, but if you cut spending enough, you don’t have to raise the debt ceiling one dime.  And once that’s accomplished, a serious president should use his bully pulpit to pressure Congress into making serious budget cuts.

The best way to go about that is to subject all spending to the Goldwater Litmus Test:  Is the proposed program or expenditure constitutional?  Such a litmus test would make it possible to dramatically reduce taxes, borrowing, and fiat-money creation…

All this being said, we should never lose sight of the fact that our biggest problem is not the national debt.  The national debt is just a symptom of a much broader underlying problem:  America has lost its moral compass.  Only an immoral people, after all, would continue to add more and more debt, knowing that it can never be repaid and that future generations will have to deal with the consequences.

Be seeing you



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