One of the things I factored into my ‘Obama Support’ is that we’re collectively broke. The whole public finance scene is a house of cards. Federal, state, municipal, institutional, tax system, etc. It can’t continue indefinitely. The books don’t balance.
So it doesn’t bother me too much that Obama or the Dems promise various programs (or the Reps for that matter because they’re fiscally irresponsible porkers too). They won’t be able to follow through because there won’t be enough money.
Drawing down our footprint in Iraq helps. That’s a couple hundred billion a year. Doesn’t change the ballgame though. We can’t keep spending money we don’t have. Minimal safety net and that’s it. Enforce immigration laws, including penalties on employers who break the law.
One of the real intriguing aspects of the next 10 years to me — how we finance an “Apollo Mission” on Energy? If there are breakthroughs on the technology side, efficient electric vehicles for example, it would have a tremendous impact on our economy and might end up paying for the initial R&D. That’s my hunch.
