The budget crisis was the “centerpiece” of the 2012 election, according to Forbes.
That declaration was made shortly after Presidential nominee Mitt Romney chose the House Budget chair, Paul Ryan, as his running mate. Ryan already proposed his budget, much to the dismay of the left and apparently, voters, who obviously did not elect Romney.
Ryan’s proposal consisted of deep cuts into valued services for the poor and sick, as well as, cuts to the Department of Education, infrastructure spending, public safety, and research, based on a study from two people who couldn’t use Microsoft Excel correctly. Electing Romney and Ryan would have forever changed the course of this country.
It would have been a massive overreaction, and probably would have led the country down the same path as Europe – currently crumbling, rioting, out of work, in massive debt and possibly heading towards a split.
That’s because the Congressional Budget Office announced a 24 percent decrease in the expected 2013 budget, from over a trillion dollars to $642 billion.
No, it didn’t come from the sequester.
It was accomplished via budget cuts from the military and tax increases, but largely because businesses got back to doing business. The CBO calculated an additional $69 billion in revenue from individuals, and $40 billion extra from corporations. That started happening once the government stopped bickering about a budget deal, which they didn’t actually do; it was forced via the sequester.
Of course, it’s only temporary. At some point, the cost of eating like complete sh*t is going to cause a massive healthcare crisis; particularly, as medicine is now keeping people alive longer. Student debt is the next bubble to burst, as the Department of Education is currently profiting $51 billion per year from overbearing student loans – more than any corporation in the country. That is essentially the same model that brought Fannie Mae – a government sponsored bank – so much money, but with mortgage debt.
That may bring about another budget crisis, one the government will promise to help us solve by cutting the services it provides to us. And it will be an unnecessary one, again. The quicker voters learn that the government is virtually powerless to fix our budget and economy, the faster we can get back to fixing the problems the government causes.
But for now, we can take solace in the fact that we didn’t learn that lesson that hard way.