There is some evidence out there that we are not at all in good fiscal health, and the Democrats don’t want to let anyone find out:
House Democrats are readying an alternative budget measure that would set next year’s spending levels without requiring a vote on deficits.
House Budget Committee Chairman John Spratt (D-S.C.) said the alternative would be the “functional equivalent” of a full-fledged budget. But because it won’t be a traditional budget resolution, it will be silent on future deficits, which are expected to average nearly $1 trillion for the next decade…
I think its much worse than that – lots of little things piling up which make me think we’ve got a cash flow problem. Here’s the most recent I’ve seen – from the Nevada News Bureau:
A delay in federal payments to Nevada’s counties is not anticipated to cause any financial problems for the cash-strapped local governments, officials said in interviews last week.
Nevada and other western states were notified last Wednesday that Payment in Lieu of Taxes funds from the U.S. Department of Interior for fiscal year 2010 will be delayed until July, a move that was criticized by Rep. Dean Heller, R-Nev…
To give an idea of the amount of money we’re talking about, Churchill County got $2 million dollars last year from this – and while the governments affected are playing down the problem (at least, as long as its only a delay from June to July), the fact remains that for some un-disclosed reason, Uncle Sam is unable to send a mere $2 million to Churchill County. This is in a budget of about $3 trillion dollars. Its like a regular person having to delay giving the street person a penny – how bad does your situation have to be before you can’t part with a single penny?
Do we have enough money coming through the US Treasury to meet current accounts and service the debt? Remember, if we miss even a single payment on our bonds there would be a financial crash such as the world has never seen. So, we can’t forgo even a penny of bond payments. We certainly can’t delay social security payments and there are several other things which if we stopped paying they would expose us as bankrupt. But if we simply don’t have the money, then something has to give…in this case, is it some payments regularly made to some counties? What else is being delayed? In a government as large as ours, there could be lots of things and it’d be weeks or months before the word got out.
I think, my friends, that things are quite a lot worse than they are letting on – and Democrats refusing to even pass a real budget is taken by me as confirmation of my suspicion.
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