How about we just face the truth, admit we have a spending problem and open the books so we can get this budget balanced with a plan of attack for paying down the existing debt without incurring any additional?
Excellent suggestion, but here is why it will not work.
We have lost too many jobs to cheap overseas labor. Who is the only employer still hiring massive amounts of people?
It is not the steel mills, they closed a long time ago.
It is not the shipyards, they were closed back in the 1980s.
The only big employer hiring lots of people and offering good benefits is the federal government.
The government can not stop hiring or else the public might see how bad the economy really is. We think the nation is in a recession now? Let the government lay off a million people, then lets see how bad it is.
The federal government has to keep borrowing money to shore up the economy. Our economy is no longer supported by how much we produce, it is supported by how much money we can borrow and print out of thin air.
Think about this, the federal reserve is buying 85 billion in bonds every month.
The super aircraft carrier gerald ford only cost 13.5 billion and spanned 4+ years of construction.
One month of bond buying could give us 6 more aircraft carriers, and enough money to create thousands of jobs for close to 30 years.
The federal reserve and the federal government is dumping massive amounts of money to shore up a broken economy. The question is, which one will give first?