EPISODE · Mar 4, 2020 · 35 MIN
Biting the Edges of Disaster: the fiscal budgetary cliff and fighting incrementalism
from The American Enterprise Manifesto: My America's Vision of Peace and Nonviolence for Humanism · host Jerry Rhoads
Historically politicians on the left and right sides of the aisle have never owned, started or run a business unless is was a law office or a classroom. As a result the institution of government typically causes systemic problems with enforcement of laws we don't need that they relegate as issues between the two parities so businesses have to figure it out and solve it with incremental deprivation of quality. With each new President and basically the same Congress (life timers prevail and earmarks are their security) the economy and cost of government (State, Local and Federal) is reeling from mismanagement of trade and resulting interest rates ... it is the sinking of the enterprise and endangering future generations. Their usual solution to these so called issues is to defer action with a 10 year plan. Less call it incrementalism ... or we can outgrow the so called "swamp" and let the next generations deal with it. This biting on the edges of disaster are budgetary derivatives that conjure up more deficits that will sink our already floundering ship. Adam Smith as the founder of economies of business advises that when capital is exceeded by the will to make profits the enterprise shall cease to exist. A good example is health care. Are unhealthy aging Americans born from 1945 to 1964 just a speed bump for the American economy, Medicare, Social Security and health care costs? When 70% of our economy is paying for taking care of 40% of the population who are retiring and applying for their Social Security at 10,000 per day and Medicare at 7,000 per day (and these are not entitlements they are supposed to be savings accounts that will cover the cost of aging). Is this just a speed bump when we haven't funded the crisis nor Obama Care as the costs escalate. The answer of course worry about it when we run out of Medicare and Social Security and let Medicaid take care of it ... the famous quote by our 45th President it won't cost us one dime ... right it will cost us $3 trillion dimes later that we will have to borrow from China. Can the GDP and GNP grow fast enough to even pay the interest on the debt let alone Medicare for All and free education for all? That my friend is a rhetorical question for later generations not an economic speed bump.
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Biting the Edges of Disaster: the fiscal budgetary cliff and fighting incrementalism
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