Both the Democrats and the Republicans continue to spend more money than the government takes in.
The Republicans say that they want to cut spending, but only on programs that benefit the poor and working classes, while cutting taxes paid by well-off Americans, and allowing programs that benefit business and the rich to continue uncut, while the Democrats continue to press for expanding social programs they can’t fund, except through deficits.
When somewhere around 23% of this year’s federal spending requires running a deficit, neither political party is behaving rationally, but then, we all know that the term “responsible politician” is an oxymoron.
But why are politicians unwilling to face up to the problem?
The answer is simple. Any politician who goes anywhere close to telling unpleasant factual truths quickly gets attacked and voted out of office. Of, if they’re “fortunate,” like Nikki Haley, when she pointed out that both political parties were responsible for inflation and excessive spending, they’re simply ignored.
But it’s worse than that. In today’s political climate, politicians who tell, time after time, popular political and economic falsehoods get rewarded by a public that also doesn’t want to hear unpleasant truths.
You can’t have lower taxes and all the programs people have come to rely upon without running a deficit or increasing taxes. You can’t have an all-volunteer military without paying them more. You won’t get better teachers with higher standards unless you pay them more. You can’t have less expensive consumer goods without offshoring or automating production of those goods, and either way reduces industrial jobs in the U.S. You can’t keep producing more college graduates, when the economy requires only half the number of graduates, without increasing the debt-loads of the graduates who can’t get higher paid jobs. You can’t keep increasing income inequality in the United States without creating more and more anger and resentment.
But no one wants to hear any of this, least of all the majority of politicians, all of whom insist that they’re not like that.