We’re Broke!

We’re broke has become the favorite new catch phrase from those on the right. Speaker Boehner seems to use this “answer” to every problem he faces. Fortunately for Americans, nothing can be further from the truth. The truth is that since 2000, Congress has enacted and the President signed legislation that spent more money than Congressional legislation and the President raised in taxes. The wealth of the country is nothing more or nothing less than the wealth of all of the citizens. Money in the US treasury is nothing more than taxes and tariffs legally collected in order to pay the costs of running the government. If Congress and the President fail to collect what is being spent, the government “borrows” the necessary funds to pay the committed expenditures. That dollar bill in your pocket is not an actual dollar, but a promissory note for one dollar issued by the government where there may or more likely may not be an actual dollar sitting in a government facility. If the government is spending more than it takes in in taxes, the government unlike you or I is not broke but needs to take in more tax revenue. To do that requires members of Congress with the courage to enact the necessary legislation and a President with the courage to sign that legislation into law. That is what is known as competent governing. Continuing to say, “the government is broke” and doing nothing about that problem is what is known as incompetent governing. Remember, raising taxes is competent, like Reagan and Clinton. (Credit Obama for his attempts, but unlike horseshoes, close does not count when it comes to reducing the deficit.) Not raising taxes is incompetent, like Bush, Boehner, Ryan, and Romney. When you next go to the polls it is up to you whether you send competent people to Congress or return incompetent people to congress. Will you vote for competence or incompetence come November?