The Flinchum File

Thoughtful Economic Analysis and Existential Opinions
Subscribe to the Flinchum File
View Archives

Page Three News

A few months ago, the budget talks in Congress were page one news, until the can was kicked down the road once again.  However, we should get some idea of any budget deal late this week.  But, where is the news coverage?  Normally, that is a good sign – a sign that things were going well.  Then again, I always see a half-empty glass as 51% full . . .

To stay focused on the importance of any budget deal, please take another look at http://www.usdebtclock.org/ and, more specifically, study the “Largest Budget Items” on the left side.  While sequestration was successful in reducing the deficit, it did nothing to improve these items.  Sequestration only impacted discretionary spending, like infrastructure — cutting muscle, not fat.  We need a real budget compromise, which actually deals with the “800-pound gorilla.”

I would gladly pay another dollar in tax . . . if entitlements could be cut by ten dollars!