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“One of the major reasons recent Congresses have been so dysfunctional: all, or almost all, the revenue to be collected by the Treasury Department was spent before lawmakers walked in the door.”
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Hah.
Interesting quote. If you view a democracy as an advance auction on the sale of stolen goods, I can see why this would be frustrating. You spend enormous time and money getting elected and then you discover that the auction has already occured.
This is the fundamental flaw of government budgeting (or lack of budgeting?). This congress will spend money that should be given to future legislatures. It’s not right in my opinion.
“Steuerle further discusses how spending and tax subsidy programs on autopilot, along with a tax system inadequate to pay our bills and rife with gaping holes, handicap lawmakers’ and the public’s ability to set new goals for solving today’s and tomorrow’s problems.”
Yep.
We’re about to replace Greece as the example other countries discuss derisively when comparing countries whose finances are about as stable as a house of cards.
But of course. It’s very easy to bankrupt those who cannot yet vote or make their voice heard.
This is what happens when you spend other people’s money – you have no respect for its worth.