The core issue here is the waste of taxpayer money at a time when our nation is bankrupt. Whether the $2.5 million is going to Gaddafi kids foundation or a foundation associated with Prince Charles of the UK, it is money we don’t have to spend and should not be spending.
Billions of dollars are being wasted on giveaways that do nothing for the average American. At the same time we have a true unemployment/underemployment rate of 16% and likely closer to 20%. The fools in Washington have to stop throwing money away.
Corporations and families have tightened their belts in the face of this economic crisis. My family, like millions of others, is switching to generic products, coupon clipping, eliminating dining out, staycationing instead of vacationing and keeping our 11 year old auto running to reduce expenses and increase savings. At the office my company has reduced headcount and slashed expenses to be leaner and meaner in a world with lower demand for products. Only government accelerates spending and borrows more in a depressed economy. And to what end?
We need radical reform of the government. Term limits, a balanced budget amendment, sunset rules, and line item veto are just some of the institutional reforms required. Our legislators have no incentive to do anything but spend borrowed money on each others programs in an endless cycle of buying support from special interests.