Posted on 4/19/2017, 3:00:20 PM by davikkm
On Friday, April 7th, Congress left town for two weeks for Easter vacation. When they return to work on April 25th, they will have only four days to pass a bill to continue funding the federal government or there will be a government shutdown starting on the 29th.
Will we change the status quo or enjoy yet another shutdown of the federal government and watch the politicians attempt to spin it to their advantage? We’ll find out at the end of this month, on exactly the 100th day of the Trump presidency.
Herbert Stein, an American economist and former chairman of the Council of Economic Advisers under Nixon and Ford, formulated a truism that our politicians should take under serious consideration today. Stein’s law plainly says, “If something cannot go on forever, it will stop.” This is so obvious yet is so blatantly ignored.
Our federal government has grown to such a size that it has become completely unaccountable and ineffective. In the process of growing to its current size, the state has racked up almost $20 trillion of debt. The interest payments alone demand an ever increasing portion of the budget. Over the past 75 years, the net interest paid by the federal government in order to grow the welfare state and other non-essential bureaucracies has jumped from $889 million in 1940 to $229.2 billion in 2015.
(Excerpt) Read more at investmentwatchblog.com …