On Mon, Aug 30, 2010 at 10:20 AM, Jerry Barnes <[email protected]> wrote: > > "I am against a balanced budget amendment. It is a stupid idea, though > attractive sounding. " > > Really? You keep a budget at home or work? How's that work out if you go > over and don't pay it off?
I actually do keep a balanced budget at home because I don't have any credit cards or any loan facilities what-so-ever. On the other hand, there is still that 20,000 in loans I took out for college, so yeah, I'm not adding new debt but I am still paying off old debt. Hopefully I can continue that way but there is no guarantee. > "I'm in favor of fiscal discipline but I've been in business long enough to > know that you are going to have quarters where your outlay is over your > income. Have you ever run a business without a line of credit? " > > Here is where the rubber meets the road. Businesses do not have an endless > line of credit. When they do take a loan, it is imperative to future > operations to pay it back or there will be no future loans, unless the > executives of Freddie and Fannie are in charge of the bank. Totally agreed, though most businesses do run a consistent line of credit, renewing as they pay off old lines. Not every company works this way, but most do. > I am not opposed, in principal, to some debt. However, it has to be > limited. Maybe some percentage revenue. Then, there are other ways to > raise money besides going in debt. Research the Revolutionary war and how > it was financed. That is an idea that I am certainly willing to look at. You need to have debt facilities available but I agree that it is in our best interest to keep them limited. I'm not against fiscal discipline, far from it. I'm against a balanced budget amendment because it is a blunt tool and is not fiscally responsible. > Both Republicans and Democrats have been on the spending train way to > long. They will not get off it unless they are forced to. I agree. > "But a rule requiring government to slash spending when the economy is > shitty and therefore when people need help the most? That is really, really > stupid and mean." > > First off, I'll disagree that it is the government's job to "help" people in > this broad nanny state ideal. Regulate commerce? Sure. Provide for a > common defense? Sure. Pay somebody's mortgage who knew better than to buy > a McMansion? Hell No. I stand firmly in favor of a safety net for the most vulnerable in our population. Others disagree and that's just a fundamental philosophical difference. I think that helping ensure that people have basic food, shelter and health is a fundamental job for any government in a civilized nation. I believe that it is morally right and produces the conditions that will stand the best chance for us to thrive as a nation. > Second, bankrupting the country for future generations is stupid and mean. > > > I have had some second thoughts on a balanced budget. People ask what do > you cut and what do you keep? I think I'm to the point where I say: I > don't give a damn. You want to keep welfare and cut military? Go for it. > You want the opposite? Fine. Some combination? Whatever. Just keep the > balance sheet clean. I don't want to bankrupt the country for future generations. I also don't fetishize a clean balance sheet. Government should serve the people and help create a just, abundant place for those future generations. There are many ways to achieve that goal and I don't pretend to know all of them. There is a growing gap in this country between the very wealthy and everyone else. The prospects for the next generation to be better off than the last are dimming. I do agree that fiscal discipline from the government is something that will help. I also do not believe it is anywhere close to being a panacea and I see too many people who focus on this one thing, to the point of demonizing the entire concept of government, and I can't help but think that they have lost the ability to help our country because of their m ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:326285 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
