The $3 Trillion Cop-Out

Most Americans don't seem bothered by more government spending and endless budget deficits. We're focused on our own entitlements.

By Robert J. Samuelson | NEWSWEEK
Updated: 1:49  p.m. ET Feb 9, 2008
From the magazine issue dated Feb 18, 2008

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  • Posted By: Leroy-Was-Here @ 03/13/2008 2:39:46 PM

    Samuelson is right that NONE of the candidates are speaking the truth to the American public about the dire state of America's finances. If you want the truth, you should read the official 'Financial Report of the United States of America'. This is an official government document....that the government doesn't want you to read! This country is in BIG trouble....no matter WHO moves into the Oval Office next January. Whoever it is is going to have a first-class MESS on their hands.

  • Posted By: Zombiehero @ 02/29/2008 10:37:37 PM

    Bump... to get that Obama will pay for everything with the power of his words.

  • Posted By: dnaath @ 02/17/2008 1:55:24 PM

    The USA should break up into smaller republics? Dumb idea.... America is capable of printing as much money as they need. A $7 trillion dollar debt is nothing and what they spend on programs for the elderly is not even worth mentioning. Americans are not bothered by the debit or its annual deficit. The U.S. Government can issue as many bonds as they like to print more money....the country is a money making machine. I say print another $1.25 trillion and give every American $5,000 to spend to boost the economy !

    • Posted By: Zombiehero @ 02/29/2008 10:36:35 PM

      I really hope your being sarcastic.

  • Posted By: eddiewhere @ 02/21/2008 3:53:51 AM

    HERE'S yOUR pROOF HALLOW. I AM VERy GLAD yOU ASKED THIS QUESTION.
    THIS pROVES THAT OBAMA IS THE REAL DEAL SON.

    Obama proved persuasive enough that the bill passed both houses of the legislature, the Senate by an incredible 35 to 0. Then he talked Blagojevich into signing the bill, making Illinois the first state to require such videotaping.

    Obama didn't stop there. He played a major role in passing many other bills, including the state's first earned-income tax credit to help the working poor and the first ethics and campaign finance law in 25 years (a law a Post story said made Illinois "one of the best in the nation on campaign finance disclosure"). Obama's commitment to ethics continued in the U.S. Senate, where he co-authored the new lobbying reform law that, among its hard-to-sell provisions, requires lawmakers to disclose the names of lobbyists who "bundle" contributions for them.

    Taken together, these accomplishments demonstrate that Obama has what Dillard, the Republican state senator, calls a "unique" ability "to deal with extremely complex issues, to reach across the aisle and to deal with diverse people." In other words, Obama's campaign claim that he can persuade us to rise above what divides us is not just rhetoric.

    Avian flu: Obama was one of the first Senators to speak out on avian flu, back in the spring of 2005, when it was a quintessentially wonky issue, not the subject of breathless news reports. There's a list of Democratic efforts on avian flu here; Obama shows up early and often. He has sponsored legislation, including what I think is the first bill dedicated to pandemic flu preparedness. It's a good bill, providing not just for vaccine research and antiviral stockpiles, but for the kinds of state and local planning and preparedness that will be crucial if a pandemic occurs. (I was also very interested to note that it requires the Secretary of HHS to contract with the Institute of Medicine for a study of "the legal, ethical, and social implications of, with respect to pandemic influenza". This is actually very important, and not everyone would have thought of it.)
    "We recommend that this administration work with Congress, public health officials, the pharmaceutical industry, foreign governments and international organizations to create a permanent framework for curtailing the spread of future infectious diseases.

    There were death penalty abolitionists, some of whom worried that Obama's bill, by preventing the execution of innocents, would deprive them of their best argument. Vigorous opposition came from the police, too many of whom had become accustomed to using muscle to "solve" crimes. And the incoming governor, Rod Blagojevich, announced that he was against it.

    THIS IS A pERFECT EXAMpLE OF WHAT OBAMA CAN DO AND HAS ALREADy DONE, BRING DIFFERENT FACTIONS TOGETHER TO ACHIEVE A COMMON GOAL.

    • Posted By: Zombiehero @ 02/29/2008 9:42:33 PM

      Yeah but how will he pay for it son?
      Speaking out about Avian Flu isn't going to pay for anything.

  • Posted By: cryfreedom @ 02/20/2008 8:04:36 PM

    dnaath: please tell me that was a sarcastic comment.

  • Posted By: Wilfred @ 02/20/2008 3:01:54 PM

    See http://brillig.com/debt_clock/ which shows national debt of $9 trillion? (In our lingo outside America it is $9 thousand trillion). Which candidate can address that?

  • Posted By: mzimmerm@us.ibm.com @ 02/18/2008 8:13:54 PM

    You hit the nail on the head! Unrestrained spending, untouchable entitlements and growing deficits are huge issues that courageous citizens and leaders need to address. I'll volunteer to give up some of my social security benefits if the government will match it with tax and spending cuts. Anybody else?

  • Posted By: bigbrewhaha @ 02/13/2008 2:00:59 AM

    I like how the scared little republicans think mccain will save them from their fear of the world

  • Posted By: ThePrairiePrankster @ 02/12/2008 3:34:31 PM

    The USA should break into smaller geographical republics. Clearly, the colossus that is the US Government is out of control and only a complete dismantling will eradicate the problem.

    Many States are required by law to balance their budgets. Nothing can be spent that is not voted on and approved by the legislature. No add ons for spending that are not included in the budget. No add ons for war, that must be included in the budget discussions. No tax cuts unless we cut spending by the amount of the tax cut -- pay as you go. Can you spend money you don't have and pass the bill to your kids and grandkids? Why should we allow government to do the same?

    Cut all spending to year 2002 levels overall. If that means bridges to nowhere in Alaska and tropical forest museums in Iowa and train museums in Pennsylvania do not get Federal dollars than so be it. If all these bridges to nowhere, museums etc are worthwhile then those who live in those states can find funding sources other than the US Taxpayer.

    Ron Paul is starting to sound better everyday....

  • Posted By: dmc24 @ 02/12/2008 12:31:19 PM

    We have become a society that expects the government to pay for everything but then we complain about paying taxes. On the one hand, we complain about how much Uncle Sam takes from us every two weeks while still expecting the government to pick up the tab for everything from cleaning up after a natural disaster to Social Security. It's ridiculous!

    As far as not cutting any programs, why if they cut a program then what would the Congressman or Senator tell his/her constituents? There might be one person in their district who depends on that program. Of course, that person is probably some fat-cat who doesn't need a government program, but that's beside the point. If we as individuals ran our financial affairs the way the government does, we would all be bankrupt and homeless!

  • Posted By: Karenn1 @ 02/12/2008 9:34:42 AM

    This is what you get with voodoo economic. Their are no conservative just a myth.

  • Posted By: eddiewhere @ 02/12/2008 4:15:56 AM

    WHO FUNDS THE BUDGET. TAXpAYERS oR THE BENEFICIARIES OF THE THIRTEEN TRILLION DOLLAR ECONOMY. IT IS EASY TO spend money THAT IS NOT YOURS. DO YOU THINK THIS BUDGET WOULD BE THis high IF THE OIL , DRUG AND INSURANCE COMpaINIES WERE FINANCING IT. NO



  • Posted By: howdy @ 02/12/2008 12:12:42 AM

    Well it looks like America is doomed. The politicians are too scared to admit the aweful truth. The USA refuses to deal with fiscal reality. Its only the combined greed of the world that has kept America from going down the gurgler so far. The world's pain of smacking the US into reality is too much for now. When some one finally blinks the rout will begin. Interest rates will soar into the 20%+ range, the dollar's value will drop by half all in a few weeks. And by the way China can do this to the US whenever it wants. All it has to do is dump 1 TRILLION US dollars on the market in a day, and the US dynasty is done.
    I dearly hope that the US will follow Canada's lead. In the nineties Canada hit a debt wall, thanks to Liberals and Conservatives. The Liberals in the middle of a recession slashed spending and upped taxes. The public loved it even though it meant pain. A few years later the surpluses started rolling in and they went largely on paying down the 600+ Billion in debt! Not new programs or tax cuts. Now any government that proposes going back into the red will be thrown out of office by ballot box or pitchfork. Never again will Canada let its children pay for todays consumption.

  • Posted By: Karenn1 @ 02/11/2008 11:25:24 PM

    Just put a big capital gain tax on oil Companys to help pay for their war. The simulatus tax is going to gas station closes to you.Upon arrival of the first tax rebate check, gas prices will go up.Robbery in broad daylight.

  • Posted By: Over 60 @ 02/11/2008 8:39:56 PM

    So what is the answer? We never hear you guys come up with one orginal idea or thought -just complaints. Move over let people with real ideas and solutions have your space.

  • Posted By: kcarizona @ 02/11/2008 12:26:55 AM

    And don't hope the voters will have any say in the running of America.... don't be stupid, ultimately it is the campaign contributors, lobbyists and policy makers who are going to run the country not the voters!

    We may be small potatoes but add us up and no small group of power people with half a brain or heart would mess with us as a whole. Just the reason we as small potatoes must stand up for our mexican brothers - we little poor people who like to pretend we are the elite and go to Starbucks with our Coach purse and the Visa statement on hold in the front pocket> Please let's all wake up the small people is you and me and that so called illegal guy and gal who gets up and works 7 days a week and in meekness smiles and takes whatever to participate with us hand in hand, and united we stand or divided we fall, so whoevery you are who are trying to divide us instead of waving your american flags i would suggest you waive our enemies because they are so proud of you and we are not! I could not agree more with nawawimohamad that the government will ultimatly be run by the professionals as it should be so we all can band together and run our own s### without trying to run the world part time. Let the pros do what the pros do and let you and me do what we do - whatever that is. You and me doing what we do well times 300 million makes this country great in the end not what a handful in a few pretty white buildings do. Have you seen the new generation of kids coming out of college? if i was an enemy of this land i would be nervous - they are strong bright eyed and not taking any bull s### look out for i have looked in and we definitly got what it takes for whatever is out there.

  • Posted By: tc125231 @ 02/10/2008 3:09:21 PM

    Lots of us care. And we vote our concerns. We get lied to a lot. And furthermore, clowns like Samuelson just stand back and moralize, instead of offering meaningful prescriptions.

    Is the cost of Iraq too high? You wouldn't know it from Samuelson. How should it be paid for? You wouldn't know it from Samuelson. Is having a miltary budget that exceeds 50% of military spending worldwide while not providing adequately for medical or mental health care of veterans out of whack?

    You got it. You wouldn't know it from Samuelson.

    There are other issues. Our infrastructure. The education of our young --whether by apprenticeships or college.

    Quit whining. Get constructive.

    • Posted By: nawawimohamad @ 02/10/2008 11:44:25 PM

      Samuelson is just stating down some of the facts, maybe one sided, but still it got to be swallowed no matter how bitter it is. And don't hope the voters will have any say in the running of America.... don't be stupid, ultimately it is the campaign contributors, lobbyists and policy makers who are going to run the country not the voters!

  • Posted By: kcarizona @ 02/10/2008 2:42:42 AM

    Comment:" Well, if the Americans don't care about the government spending and deficits, why should anyone care? If the government has no more money to spend then it can either, beg, borrow or steal. The US can beg from the Saudi, Canada, EU or Japan. It can borrow from Russia, China, Britain, Singapore or Isreal. It can steal from, Iraq, Afghanistan, Pakistan, Korea, Iran, Mexico, Cuba and Venezuela or other Latin American countries."

    Damm i hope that is not our scenario - damm pathetic if true and who knows what is really true when the news tells me more about that hottie Britney than the state of the monetary system as we go along la la la you want a piece of me la la la

  • Posted By: nawawimohamad @ 02/10/2008 2:32:33 AM

    Well, if the Americans don't care about the government spending and deficits, why should anyone care? If the government has no more money to spend then it can either, beg, borrow or steal. The US can beg from the Saudi, Canada, EU or Japan. It can borrow from Russia, China, Britain, Singapore or Isreal. It can steal from, Iraq, Afghanistan, Pakistan, Korea, Iran, Mexico, Cuba and Venezuela or other Latin American countries.

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