Banking On The Path To Fiscal Ruin

A trend has taken shape in Washington, and it has put our country on a devastating path towards potential fiscal ruin. The trend is characterized by an unsustainable penchant for spending money we don’t have. It became crystal clear in last year’s debt ceiling negotiations and was further highlighted by the recent debate surrounding the fiscal cliff; our country is broke, yet our government continues to spend more, risk more and accumulate more debt. Entitlements are often blamed for the vast majority of our spending issues, but our tendency to overspend is not restricted to just these. Parallels exist across the spectrum of government agencies – each case portraying the same doomed philosophy that threatens the solvency of our entire economy. A telling example is the Export Import Bank (Ex-Im): an anti-free-market institution that consistently risks billions of public dollars for the sake of corporate welfare.

Read more: http://townhall.com/columnists/kenblackwell/2013/01/09/banking-on-the-path-to-fiscal-ruin-n1484890?utm_source=thdaily&utm_medium=email&utm_campaign=nl