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The fatal flaw of all democracies
The Union Leader, Manchester, NH ^ | 2009-08-27 | Patrick J. Buchanan

Posted on 08/26/2009 9:33:31 PM PDT by rabscuttle385

"We just can't afford it!" Not long ago, every American child heard that, at one time or another, in the home in which he or she was raised.

"We just can't afford it!" It may have been a new car, or two weeks at the beach, or the new flat-panel TV screen.

Every family knew there were times you had to do without. Every father and mother has had to disappoint their kids with those words. Why is it that what parents do many times a year politicians seem incapable of doing: saying no?

How many times in the last decade have the political leaders of either party stood up and declared, "No, we cannot afford this"?

Consider. Friday, the White House conceded that the deficits over the next 10 years will total $2 trillion more than they had reported just months ago. Instead of $7.1 trillion, we will run $9 trillion in deficits.

Meanwhile, the White House demands a new entitlement -- health care coverage for 47 million uninsured who can't afford it or refuse to buy it -- that will cost at least $1 trillion over 10 years. Can we afford this -- now?

"We can't afford not to," comes the retort. This is "a core ethical and moral obligation," says Barack Obama.

But is it not a core ethical and moral obligation not to debauch the currency in which most of the hard-earned wealth of the American people is invested? Yet, as Warren Buffett writes in The New York Times, collapse of the dollar and the end of its days as the world's reserve currency is what we are risking.

Government expenditures are running at 185 percent of revenue, which is like the lone family breadwinner earning $50,000 a year, while the family spends $92,500 a year. With families that do that, it is not too long before the credit cards are cut off, the mortgage is called in and the family Chevy is repossessed.

According to those same White House figures, this year's deficit will be closer to $1.6 trillion than the $1.8 trillion previously projected. Now, there are only three basic ways to finance that deficit.

The first is by borrowing the savings of one's own citizens, thus consuming the seed corn of the private economy. The second is by borrowing from abroad. The third is by having the Fed, "through a roundabout process," writes Buffett, "printing money."

Assume the Treasury borrows most of the savings of the American people this year, say, $500 billion. Then Uncle Sam is able to persuade Beijing to buy another $500 billion in Treasury bonds. The Fed must still run the printing presses to create another $600 billion.

How long before our Chinese, Japanese and OPEC creditors conclude that the Americans are depreciating their currency and dump their U.S. Treasury bonds, or demand a higher rate of interest to cover the risks of their dollar-denominated assets sinking in value?

Can anyone believe the dollar can even retain its present diminished purchasing power if we run $9 trillion in deficits over 10 years? How long before producers conclude the same and start to demand more dollars for their goods -- and inflation takes off?

As Buffett argues, even when the U.S. economy returns to full employment, the new tax revenue it would throw off cannot close a deficit of that size. One must either slash spending or raise taxes to balance a budget where the feds are spending a fourth of gross domestic product.

But how do we cut spending when the five largest items in the budget -- Social Security, Medicare, Medicaid, interest on the debt and national defense -- are untouchables and growing faster then the 3 percent to 4 percent a year a full-employment economy can manage?

Are we going to cut veterans benefits, spending on our crumbling infrastructure or education, when Obama is promising every kid a college degree? Are we going to cut funds for Afghanistan and Iraq, and risk losing both wars? Are we going to cut foreign aid after Hillary Clinton has been touring Africa telling one and all America is here to stay?

How about cutting funds for food stamps and the Earned Income Tax Credit? Good luck. How about PBS and the National Endowment for the Arts? Just try it.

Does either party have any plan to cut federal spending from today's near 28 percent of GDP to the more traditional 21 percent?

George W. Bush didn't even try, and Obama is making that Great Society Republican President look like Ron Paul.

When a democracy reaches a point where the politicians cannot say no to the people, and both parties are competing for votes by promising even more spending or even lower taxes, or both, the experiment is about over.

"Remember," said John Adams, "democracy never lasts long. It soon wastes, exhausts and murders itself. There never was a democracy yet that did not commit suicide."

Pat Buchanan is a former Republican and Reform Party candidate for President, an adviser to two Presidents and a syndicated columnist based in Washington, D.C.


TOPICS: Editorial; Government; Politics/Elections
KEYWORDS: biggovernment; democracy; democrats; gopfailure; gopimplosion; govwatch; lping; obama; rinoparty; socialism

1 posted on 08/26/2009 9:33:31 PM PDT by rabscuttle385
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To: bamahead; dcwusmc; mysterio; Bokababe; Extremely Extreme Extremist; djsherin; sickoflibs; Impy

Very...interesting...read.


2 posted on 08/26/2009 9:34:50 PM PDT by rabscuttle385 (May God save the American Republic.)
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To: hiredhand

Bttt


3 posted on 08/26/2009 9:40:32 PM PDT by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: rabscuttle385

This is why we have a republic, not a democracy.


4 posted on 08/26/2009 9:52:04 PM PDT by Natural Law
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To: rabscuttle385

> Why is it that what parents do many times a year politicians seem incapable of doing: saying no?

Parents don’t run for election.


5 posted on 08/26/2009 10:01:06 PM PDT by UnbelievingScumOnTheOtherSide (Give Them Liberty Or Give Them Death! - IT'S ISLAM, STUPID! - Islam Delenda Est! - Rumble thee forth)
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To: Natural Law

We used to have adults who represented adults who all understood and accepted the principles of fiscal responsibility and good husbandry.


6 posted on 08/27/2009 2:44:19 AM PDT by plsjr (<>< ... reality always gets the last vote.)
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To: rabscuttle385

‘Mommy, daddy, buying me a super soaker is a core ethical and moral obligation, you can’t afford not to!’


7 posted on 08/27/2009 3:23:10 AM PDT by Impy (RED=COMMUNIST, NOT REPUBLICAN)
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To: Natural Law
This is why we have a republic, not a democracy.

EXACTLY!!! I have been saying this for years. It is simply amazing how many folks on both sides of the aisle are ignorant of this very basic fact.

I have, and always will believe, that this simple false assumption that we are a democracy is the root of the entire problem.

You can start to fix it by repealing the 17th amendment.
8 posted on 08/27/2009 4:14:38 AM PDT by F. dAnconia (We say: "It is, therefore, I want it. They say: "I want it, therefore it is")
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To: F. dAnconia; rabscuttle385

It never ceases to amaze me the lack of understnding of what our sytem is. I fault the pubic screwels, but then again this is not a recent phenomena, it has been around even with my parents. Wonder if anybody, even our parents wondered what our pledge says ... and to the republic .....

I agree, the 17th ammendment has caused us incredible problems, and perhaps that was the incubator for the idea of “democracy”

We have developed a power “elite” not unlike Britain’s born and bred House of Lord’s. And to a large extent the House has developed that attitude as well. Unwilling to represent, McLame, Spectator (the alien), Voinobitch, Hutchinson, Hagel ... on and on and that isn’t even touching the commies all have lost touch and built empires unto themselves.

The only solution I see is term limits. 4 conmsecutive for a rep, 2 consecutive for a senator. Those empires would be curtailed .. right now the only REAL PURPOSE for a congress critter or senator is to get reelected. Absolutely nothing else matters to them. Yes .. that is not tongue in cheek ...I stand by that statement 100%.

Lock and load all of em ...


9 posted on 08/27/2009 4:43:19 AM PDT by HiramQuick (work harder ... welfare recipients depend on you!)
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To: HiramQuick

oops .. meant to address Natural Law as well


10 posted on 08/27/2009 4:48:38 AM PDT by HiramQuick (work harder ... welfare recipients depend on you!)
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To: HiramQuick
I must respectfully disagree. Term limits are band-aid solution to the underlying problem. That underlying problem is the apathy of the general public on most political issues and not holding politicians accountable. I have no problem with someone serving 50 years in Congress if they are doing a good job and are held accountable.

Why take the draconian step of term limits and reduce the rights of the voter to elect whom they wish to Congress(Or, by proxy the state legislature if the 17th was repealed)?
11 posted on 08/27/2009 5:04:24 AM PDT by F. dAnconia (We say: "It is, therefore, I want it. They say: "I want it, therefore it is")
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To: F. dAnconia

Then why limit Obammer to two terms??? Or any of our governors??


12 posted on 08/27/2009 5:36:58 AM PDT by HiramQuick (work harder ... welfare recipients depend on you!)
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To: rabscuttle385; Abathar; Abcdefg; Abram; Abundy; akatel; albertp; AlexandriaDuke; Alexander Rubin; ..
Democracies have ever been spectacles of turbulence and contention; have ever been found incompatible with personal security or the rights of property; and have in general been as short in their lives as they have been violent in their death.-- James Madison



Libertarian ping! Click here to get added or here to be removed or post a message here!
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13 posted on 08/27/2009 6:14:06 AM PDT by bamahead (Avoid self-righteousness like the devil- nothing is so self-blinding. -- B.H. Liddell Hart)
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To: rabscuttle385
Does either party have any plan to cut federal spending from today's near 28 percent of GDP to the more traditional 21 percent? George W. Bush didn't even try, and Obama is making that Great Society Republican President look like Ron Paul.

That right there is pretty darned funny, and absolutely true!

14 posted on 08/27/2009 8:08:54 AM PDT by Paradox (ObamaCare = Logan's Run ; There is no Sanctuary!)
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To: HiramQuick
Term limits may not solve all of our problems, but it is a good start.

The problem is expecting our elected officials to pass legislation that in effect removes them from their jobs and from power. It ain't gonna be easy.

15 posted on 08/27/2009 10:13:43 AM PDT by GSWarrior
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To: rabscuttle385

bump, and thanks for all you do, rabs!!


16 posted on 08/29/2009 1:52:54 AM PDT by dcwusmc (We need to make government so small that it can be drowned in a bathtub.)
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To: rabscuttle385
Tim Hawkins - The Government Can
17 posted on 08/29/2009 1:57:33 AM PDT by Brugmansian
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