Congress is on crack. Seriously; not crack cocaine, but spending crack.
The high from crack cocaine produces feelings of euphoria, confidence, high energy, and a craving for more cocaine. The craving is so powerful that addicts will do almost anything to get it.
For Congress, spending money is their crack cocaine. It gives them feelings of power, control, confidence, self-assurance, magnanimity, euphoria, and a powerful craving to get more of the feeling by spending even more money. They simply cannot resist the opportunity to gain those feelings. Democrats, Republicans, Independents, Socialists; they all fall victim to the extraordinary and potent feelings that go with spending billions and billions of dollars.
Like a street addict who will steal from strangers, friends, and even the closest members of their own family, politicians and their friends at the Fed will do anything to keep up the spending. Members of Congress are stealing from their own children and grandchildren as well as everyone else’s as they engage in deficit spending year after year, decade after decade.
They are incapable self-restraint regardless of who they are hurting or the damage they are doing right now, nor caring how much future pain their current actions will inflict. They fiddle with budgeting rules to make it look like they are not stealing and are not hooked, but they are.
I do not want to believe this, but the evidence is overwhelming. Congress has created programs that are committed to spending even more trillions of dollars in the future without any regard for where the money will come from.
Like any other addict, they are in denial. But the numbers do not lie. More than forty cents of every dollar spent is borrowed. Interest on the debt, mandatory spending and entitlements take nearly every dollar of tax revenue. Eliminating 100% of discretionary spending would not close the deficit, so “budget cuts” and rooting out “waste, fraud, and abuse” are nothing but smokescreens and lies so they can keep feeding their addiction while pretending responsibility.
Presidential leadership on this issue? We have not had it since Ronald Reagan. We are headed for a financial cliff and what has Washington done? They have hit the accelerator.
God help us because a bunch of crack addicts are running the show and they will not even admit they are hooked.