We have created in America a permanent political class that has powerful incentives to remain in office and grow government. Protected from accountability by gerrymandered districts and financial support from special interests, its members at times actually defy their constituents, as they did on the illegal immigration issue in 2007 and the mortgage bailout bill in 2008. It's time to hold our politicians to account.
Monday, August 30, 2010
Where the money goes can determine a nation's destiny
"In the past several decades, the country paid for increases in Social Security, Medicare, and Medicaid spending through cuts in defense spending relative to the size of the economy. That approach is not feasible in the future." CBO, March 8, 2010.
"If you really want to see when an empire is getting vulnerable, the big giveaway is when the costs of serving the debt exceed the cost of the defense budget." Niall Ferguson.
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