CONGRESS AND THE CONSTITUTION’S POST MORTEM « The Burning Platform

CONGRESS AND THE CONSTITUTION’S POST MORTEM « The Burning Platform

Hamilton took a bullet, but Thomas Jefferson died broke. It seems he wasn’t all that great with managing his personal finances.

Even so, finance isn’t that difficult to figure, and more so than engineering, and imagine the outrage if public structures were built that only the elite could use, like the Brooklyn Bridge. There is proprietary and there is the public good. What is missing is a moral compass in Congress, wherein lays the bulk of corruption today.

The die is cast, automatic spending cuts which will take effect in Jan 2013 after the Congressional Super Committee failed to reach agreement on the same spending cuts as proposed by the Bowles – Simpson Plan amount to $2.4T over ten years.

The global financial system isn’t going to last ten years at the rate we’re going. Bernanke supposedly is less concerned about inflation than he is about a deflationary depression. Stagflation occurred in the 1970's until the deficit began to sky rocket under Reagan. While wages remained flat, public sector spending began crowing out private investment, where today there is no private investment except by huge funds. The other shoe will drop, and who ever knows where isn’t telling. It could be this Spring as OWS protests pick up in earnest.

We can’t have a housing recovery without full employment, and we can’t have full employment without reversing the trend of sending jobs overseas for the past twenty five years. A jobless recovery isn’t a recovery. Something else must be done to put people back to work, or we will continue to slide further into recession. When you pay people not to work, they don’t work, period.

The two party system has failed America. Obama has eleven more months to screw things up. If Romney is the best the GOP can put up to run against him, I will vote for Paul as an independent. There just aren’t enough of us Tea Partiers to decide the presidential election.