Saturday, April 9, 2011

Budget Crisis Averted for Now (?)

The two parties, the two houses of Congress, two branches of Government have agreed to a stop-gap measure.

To their credit, the Congress has made the biggest cuts to the current budget in its history. Suffice to say, previous budgets did not take meaningful steps to cut spending at all.

The bigger fights have yet to come, though.

The debt ceiling will have to be raised in the near future. Will the fiscal conservatives stick to their principles in the face of the looming threat of default, far worse than a temporary shut-down?

And then there's the budget for the 2012 fiscal year. Will Congressman Ryan be able to lead Congress according to his Roadmap, or will politician continue to drive this nation into the fiscal pit?

Paul Ryan's Roadmap promises significant cuts. It is understandable from a political stand-point that he does not attack entitlements head-on. To streamline the tax code, to raise the retirement age, to cut discretionary spending in the long-term with meaningful spending cuts, all of this is commendable.
All of this is a major help in assisting

We must not deluced ourselves into thinking, however, that the Budget Crisis has not ended. The United States still faces immense, no, gargantuan unfunded liabilities. Entitlement spending is simply out of control, and something must be done now to stop it from irrevocably encroaching upon us later!

No comments:

Post a Comment