"Congress Kicks the Can"

"Congress Kicks the Can"

by Brian Maher

"CNBC gives the news: "Congress was poised to prevent a government shutdown Thursday with hours to go before a midnight deadline. The Senate and House both passed a short-term appropriations bill that would keep the government running through Dec. 3. The U.S. will avoid a lapse in funding once President Joe Biden signs it into law. The Senate approved the legislation in a 65-35 vote, as 15 Republicans joined all 50 Democrats. The House passed the bill by a 254-175 margin as 34 GOP representatives and every Democrat supported it."

Barring delays, the House is expected to approve the plan and send it to President Joe Biden before funding lapses. President Joe Biden will of course sign his name to the legislation. We hazard many palms were greased… many backs were scratched… many arms were twisted. Many horses were traded.

“Disaster” Avoided: And so federal workers essential to the Republic’s safety will remain on station - the customs official at Ketchikan, Alaska - for example. The Transportation Security Administration will still defend the aerial ways against infants, their great-grandmothers, the crippled and related hellcats. Social Security checks will still go through the mails. In event of national invasion, the Marines will answer the bugle.

Of course, Congress would never permit an authentic government shutdown. One fellow attempts to seize concessions from the other… to make him blink first. The other pursues an identical strategy. But they come to terms by the fatal hour. The political combat before us is thus reduced to spectacle, a professional wrestling bout with its false feuds, artificial blows and imitation blood. The outcome is pre-decided. And so today the soda can goes rolling down the roadway, kicked plenty hard. You will be treated to the identical show in December, when the present arrangement terminates - depend on it.

913,242.24 Years of Ceaseless Labor: Consider another enormity - the national debt - presently running, again, to $28.8 trillion. You are committed to frugality in government. Each dollar you print you therefore consecrate to retiring the nation’s debt. Thus we multiply 31,709.8 years by 28.8. Here is what we learn: Reducing today’s $28.8 trillion debt to $0… would require 913,242.24 years of ceaseless labor - 13,046.31 lifetimes. Commence today and the job is done in the year of our Lord 915,263.

And we are not factoring interest on this debt. We will spare you the calculations for fear of your sanity. The business seems beyond all human agency, beyond all control. ‘What can I do?’ a fellow wonders. His shoulders he shrugs. His head he bows. He may cluck-cluck his opposition to it all - and what sane man does not?

The Modern Monetary Theory zanies may be for it. They argue that greater and greater debt is the great elixir, the granite foundation of wealth everlasting, the goose that is golden. But our normal man, he is no zany. He has good, hard sense in him. He is sturdy, he is sound. He is also powerless. He is a man resigned..."

- dailyreckoning.com