Posted on 05/10/2016 4:51:25 AM PDT by SJackson
Bruce Thornton is a Shillman Journalism Fellow at the David Horowitz Freedom Center.
The Republican caterwauling over Donald Trump reminds me of the lyric from Thats Entertainment: Theres no ordeal/like the end of Camille. Jeb Bush, Lyndsey Graham, and Mitt Romney have announced that they will snub the GOP convention. GOP big donors are closing their wallets. Some pundits and politicians are contemplating a third-party candidate to prove the purity of their conservative principles, even if it means Hillary Clinton will end up appointing 2-3 Supreme Court Justices. The litany of Trumps sins is recited over and over, with the implication that such a vulgar blowhard is an unprecedented blot on American history.
Meanwhile, the countrys looming fiscal disaster, the most important issue the new president will face, continues to be sidelined.
But first I cant resist one last reminder to the angry Republicans about how they played a role in creating Donald Trump. Why werent the party pundits and politicians as aggressive and vociferous when Barack Obama burst on the scene? I wish the McCain campaign had as loudly hounded Obama over the gaps in his biography, the fictions in his memoirs, his obvious lack of experience and achievements, his pastor Jeremiah Goddam America Wright, his terrorist buddy Bill free as a bird Ayres, and his jail-bird real-estate facilitator Tony Rezko. I wish the Republicans had exposed, emphasized, and publicized, as relentlessly as they did Donalds coarse bluster and policy incoherence, Obamas long record of leftist ideology. Instead they were buffaloed by Obamas unifier rhetoric during the campaign. Sure, all those troubling connections were mentioned and tut-tutted, but then were quickly buried in policy sound-bites coupled with obligatory encomia to Obamas brilliant oratory, his gifted writing, his lovely family, exotic upbringing, and the perfect crease in his trousers.
Why? We all know why. Because Obama is black. Fearful of being branded racist, the Republicans pulled their punches. They ignored the Jeremiah Wright scandal and Obamas blatant lies about his relationship to the racist pastor, pretending they were too high-minded for such bare-knuckle politics. They weakened themselves by accepting the Democrats old double standard that allowed them to demonize Republicans as racist for raising concerns that would have buried a Republican. The McCain campaign should have known that the post-racial rhetoric was a lie, and that no matter how faithfully they played by the Dems rules, they would get bludgeoned by accusations of racism anyway. And so it went in 2012 too, when Romney allowed the Dems to portray him as a heartless capitalist pirate, even as Obama lived it up in 1% splendor, far from the mayhem and disorder millions of blacks have to endure every day. This caving in to political correctness helped make Trumps attack on it so successful.
But Obama enjoyed another advantage that Trump lacks. He graduated from Harvard Law School, which gives him a cachet that appeals to many similarly credentialed Republicans. Also, Obamas only real job outside government was as a lawyer, a profession much more prestigious and high-toned than New York real-estate mogul, casino developer, and reality television star. Many people automatically attribute to an individual the prestige of an institution he is associated with, whether hes actually earned it or not. In politics, this bias toward prestigious credentials feeds the essentially progressive illusion that government leadership requires academic training and technical skills. But of course, that assumption is as fallacious as assuming that a successful businessman will make a good president. Lets not forget that the greatest president since World War II graduated from tiny Eureka College.
These perceptions that Republican elites were playing by the other sides rules suggested to many people that their leaders had more in common with the other denizens of the Acela corridor than they did with the millions living in fly-over country. Notice the way some Republican critics are using the word nationalist when denigrating Trump and his followers. By doing so they are accepting the progressive interpretation of fervent pride in ones nation as something dangerous and always one step away from fascist tyranny. Thus they denigrate a natural response to decades of anti-Americanism and E.U. internationalism on the part of many Democrats. So Trump just doubles down on his making America great bromides to gratify his aggrieved supporters.
Such perceptions created the desire not just for an outsider, but for one who would cut through all the social codes and protocols that elites of any sort share. Such voters dont want reasoned argument, sober and judicious analysis, and complex policy proposals. They want in-your-face payback, blood and hair on the walls. And Trump gives them what they want.
But the time for such recriminations is past. The primary drama between Trump and the Republicans obscures the important issue that has been mostly ignored this election year, and that transcends Trumps bad manners, the Republican establishments angst, or even Hillarys FBI problems. No one has been seriously talking about the impending financial disaster being created by metastasizing entitlement spending, a $20 trillion debt, and yearly deficit spending.
As reported by the Heritage Foundation, the bare facts of this crisis should frighten all of us. Every child born in America today will leave college with a $142,000 share of the federal debt. If we stick to the current path, by 2028 publicly held debt will reach 100% of GDD, surpassing the record set in 1946 after four years of world war. By 2039 it will nearly double GDP. But servicing that debt will be more expensive when todays low interest rates return to historical norms. As Kevin Williams explains, If interest rates on the federal debt should return to their level in 1995 not some weird exotic point in the past but back in the Clinton years then were going to be paying $1.4 trillion a year just in interest on the existing debt; which is to say, interest payments alone will account for 45 percent of all federal taxes that will be collected in 2015.
Deficits have retreated recently from Obamas trillion-dollar binge spending, mostly on the back of defense spending, which contributed half the cuts in the 2011 Budget Control Act. But deficits are projected to start rising again even without Williamsons scenario. Between 1962 and 2008, deficits averaged 2.1% of GDP. In 2009 the deficit reached its high of 9.8%. By around 2025 they will match the 2008 high, and then go up steadily until they reach 18% un 2050. That means deficits will match total federal tax revenue.
Those ghastly numbers, of course, are created mostly by entitlement spending. Unless there is serious reform of Social Security, Medicare, and Medicaid (including the Childrens Health Insurance Program and Obamacare), spending on these programs currently taking over half of the 18% of GDP collected by the government in taxeswill take it all by 2031. That means there will be no money for everything else the federal government does, including defense. Social Security, which ran a nearly $80 billion deficit in 2014, will see that deficit balloon to $337 billion in 2032. And these projections of the costs of unsustainable entitlement do not count the $365 billion spent in 2015 on safety net programs such as food stamps, welfare, housing subsidies, and the Earned Income Tax Credit.
So how many specific, serious proposals for forestalling this urgent disaster have we heard during the primaries? Not many. Just vague proposals for growing the economy or taxing the rich, politically convenient nostrums that dont require sacrifice from the majority of people. And dont expect anything better come November. Nobody wants to talk about it, and no one wants to listen to the painful prescriptions necessary to change course. That fact is the real scandal of this years presidential campaign.
From the article:
“No one has been seriously talking about the impending financial disaster being created by metastasizing entitlement spending, a $20 trillion debt, and yearly deficit spending.”
NO ONE?
I beg to differ. Apparently, the author hasn’t heard Trump speak.
The MSM couldn’t care less about the important issues. They’d rather be up Kim Kardashian’s skirt. But Trump himself has talked about this in rally after rally after rally..
It’s part of the foundation of WHY he’s running.
Sobering.
Got an email from my congressman and they had a prescription drug drop-off in my county and they hauled in 5.2 TONS of drugs. How much was from medicare?
Easy Peasey. Actually this is a no-brainer.
The answer is called DEFAULT.
$$$$$ Money that cannot be repaid WILL NOT BE REPAID.
This has only happened MANY, MANY times thorough history.
Trump has even mentioned this.
Re:Eureka college
Eureka College
Liberal arts college in Eureka, Illinois
Call Directions Website
Address: 300 E College Ave, Eureka, IL 61530
Eureka College is a liberal arts college in Eureka, Illinois, related by covenant to the Christian Church. It has a strong focus on the mutual development of intellect and character. Stated core values are learning, service and leadership. Wikipedia
Notable alumni
Ronald Reagan
A great “reset” for our economy and country is all but inevitable.
We will be thrust into extreme poverty, and there is no way out for us little people.
My concern is for my children: What happens when children’s Tylenol is $200 a bottle?
I’ve said it before: Stockpile everything you can now, before prices skyrocket.
Dry goods, meds, socks. Everything nonrefrigerated that you use should be stockpiled now, while you can.
Even a $2 bag of rice could save a life someday.
One important first step in addressing this problem is to recapture the language from the libs and the MSM.
The word “Entitlements” is too broad and too positive to include all the programs encompassed by government largess. I would include Social Security as a true entitlement for those who have worked their whole lives and contributed massive amounts of their income to it. They are truly “entitled” to receive a portion back each month.
BUT, food stamps? ADHD supplements, so-called earned income credits? student loan forgiveness? SSI for those who never contributed in the first place? on and on. These might be worthwhile programs that we as a nation may or may not decide to continue; but to call them “ENTITLEMENTS” is to give them a status and a permanency they do not deserve.
That’s my opinion. I hate liberals.
Oldplayer
Charity is more accurate.
The author is addressing the Republican establishment, which isn't addressing this or many issues in lieu of their frenzy over Trump.
I'd suggest the fact the Trump did address this issue, as well as issues like immigration and Iran is the reason he's the nominee. Despite addressing many issues "imperfectly".
Charity is more accurate.
Exactly. That is the word that should be used. Both the giver and the recipient understand their respective positions. And, if you don’t like what you receive from someone, then don’t take it. If you do, then be thankful.
Oldplayer
Another, and not significant, elephant in the room is the pundit class’ complete ignorance of Trump’s position on everything except Rosie’s pigsty manners and the like. This author even admits as much. He recites, “...such a vulgar blowhard is an unprecedented blot on American history.”
I agree with you but your view of SS is incorrect. SS is not some sort of savings account where your deposit is returned to you after a time in increments. It is insurance where the pay off comes after you reach a predetermined age. Many retirees pass the amount they have paid in on SS. I am not defending or attacking SS - just stating the nature of the insurance payout.
But with that said - I pretty much agree with the entirety of your post.
The founding fathers found themselves in a very similar financial situation just after the War. The USA was deeply in debt and was considering a default. What they did was pass the Tariff Act of 1789 which brought in revenue and protected US industry. It is surprising the the founders would do such a thing as most were growers and farmers who are notoriously against tariffs and for free trade . But George Washington and the first congress put country ahead of their own needs and did the right thing. The rest is history: the War debt was paid off very quickly and their was no need for income taxes.
A 20% tariff balance the budget tomorrow. Phased in 5% a year until the deficit goes away. It has to be done.
ONLY if spending is frozen as well.
I would say the entitlement spending should be frozen for 10 years. Military spending should go up.
When did the hierarchy of the Repub. party become the party? The ones that do not actively support Trump should be run out of the party and out of town. We voted him in not those vermin.
I agree with your analysis of SS. It is interesting to see how it works in practice versus the way it was sold by FDR and the commies during the 30’s and 40’s. The same tired and untrue statements were trotted out every time SS was expanded. SSI, on the other hand, was billed as “insurance,” but straight SS was almost always portrayed and sold as a retirement vehicle.
Making politicians stay true to their “word” is impossible. Where, exactly, is this “lockbox?”
Oldplayer
Because the GOP leadership is center-left and basically supports many of Obama’s political goals.
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