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The Bottom Line on A Balanced Budget
Wednesday, July 20, 2011 8:38 AM

 

Do you have to balance the books at your house? I sure do.

I have to carefully look at how much I bring in, and balance that against how much goes out.

And do you know what happens if I don't pay all my bills? Well, first of all, I lose my house, lights, car, cable, gas…etc. etc. etc.

And then what? Well, I could get sued for failure to pay my debts, and have my money forcefully taken away, and quite possibly, depending on a variety of circumstances, could end up in jail.

There are safeguards in place to ensure that if I don't spend my money correctly, and pay all my bills, well, life becomes very hard for me and you, right?

But for Congress, well, Obama feels that such safeguards are unnecessary:

“We don’t need a constitutional amendment to do our jobs,” Obama told reporters at his Friday news conference. “The Constitution already tells us to do our jobs -- and to make sure that the government is living within its means and making responsible choices.” 

I hate to be the bearer of bad news Mr. President, but apparently you do, and I have 14 trillion reasons why.

Look, I will concede that neither party has done a good job at this whole finances thing. It isn't one parties fault entirely, although recently one party does deserve more blame than another…

But the bottom line is this: We need some type of safeguard in place to get this whole debt thing under control. We can't trust you to do it, especially since you flip flop on this whole issue in the first place.  You spend so much, and then blame so much, and then talk so much about how we need to wrangle in spending.

Well Mr. President, talk is cheap, and you already showed us how you voted. That's right, we know you voted against raising the debt ceiling. We know how you and your buddies chided Bush about it, and know act like we can't live without it.

 "We don’t need a balanced budget amendment,” Obama said on Friday. “We simply need to make these tough choices and be willing to take on our bases. And everybody knows it. I mean, we could have a discussion right here about what the numbers look like, and we know what’s necessary.” Obama and his fellow Democrats insist that a tax hike on the wealthy is necessary. 

But you won't make the tough choices. You won't even put a choice on the board. Tax hikes for the wealthy? Can we please retire the rhetoric and focus on getting the job done? If we had a BBA we wouldn't be having this argument.

Twitter: @afrbottomline

thebottomline@afr.net

www.afr.net/thebottomline

 

http://cnsnews.com/news/article/obama-we-don-t-need-balanced-budget-amen

 

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