Category Archives: Deficit
Applying the Declaration of Independence Today
Declaration of Independence
When was the last time you read through the text of the Declaration of Independence? The US Constitution? The Bill of Rights?
For the average American, that answer is likely “sometime in high school.” When we, as a society, do not understand our history, the right and the wrong that we have come through as Americans, we begin to lose sight of that which we hold so dear. Whether you choose to read this in the context of what President Obama has done as the leader of this country or what Mark Dayton has done thus far as the Governor of Minnesota, I hope these words find you pondering which direction our country and state are going in.
So now that another Independence Day has come and gone, it’s time to take a little walk down memory lane and revisit how America came to be, through the words of the document that said, “NO MORE!” to the British monarchy. (Emphasis mine.)
In Mark Dayton’s Own Words: “No, I would not shut government down.”
Lights out. As the clock struck midnight, the lights literally went out at the Minnesota State Capitol.
July 1, 2011 - MN State Capitol goes dark. Source: Princess Politics
July 1, 2011 will forevermore be known as the day Mark Dayton shut down the State of Minnesota. After months of negotiating and the delivery of multiple balanced budgets by the GOP-controlled majorities in the legislature, Governor Mark Dayton dug in his heels and refused to even pass a “Lights On” temporary funding budget so that they could have additional time to work out the details of closing Minnesota’s $5 Billion shortfall. Without what Mark Dayton called “increased revenue” (which is fancy speak for raising taxes and increased fees), he refused to agree to any of the budget offers that came to his desk.
But in typical liberal fashion, it was a “my way or the highway” approach. Even when the MNGOP legislators agreed to many of the governor’s funding requests, he still wasn’t happy. At midnight, the shutdown of state government services became official, even though rest stops and state parks had already been closing. But today, there are over 30,000 state employees that could not return to work. And nobody knows how long it will be before a deal is reached. Read the rest of this entry
A “Greece”-y Mess – Why the USA Should Care
On the other side of the world, outside of our American bubble, Greece is in a mess. Facing soaring debt and likely default, the Greek parliament passed a bailout of sorts they call an Austerity Bill. Greece’s debt as a percentage of GDP currently hovers around 144%.
On the brink of an economic meltdown, world markets have been closely watching what would transpire in the European country. Their solution? Major tax hikes and cuts to services… and Greece has been rioting over this.
How did this happen? Well, in large part…. an explosion of public sector jobs, pensions, and other social benefits since 1973. Sound familiar?
Here in the United States, we are facing a critical decision making time as we reach our “debt ceiling”, the legal limit as to how much the government can borrow to pay its obligations. As it stands, the US is scheduled to reach the federal limit on spending as of August 2, 2011. Read the rest of this entry
