Punchinello’s Chronicles

October 27, 2008

GOP Warns Against One-Party Control of Government

The new argument being put forth by the Republican party is that if Mr. Obama wins the presidency, and the Democrats sweep both the House and the Senate, we will have a single-party oligarchy.

I find this to be disingenous and ironic in the extreme, given that from 1995-2006 we had already “been there and done that” with Republican majorities.

During that time, with no checks and balances, the federal government entered into the most massive spending binge in modern American history. Politicians suddenly had a blank check, with nobody capable of stopping a runaway train destined for bankruptcy.

It’s not unusual, though. For the preceding nearly 50 years, with a Democratic-controlled House and Senate, regardless of who was in the White House, spending was also out of control.

This so-called tsunami of collapsing debt structure isn’t a mystery at all. It’s a simple law of reality. If you spend more than you have or earn, you go broke. The only difference is that in a tri-lateral Democratic government we’ll go broke a little bit faster.

T’row da bums out! Deh’r ALL a bunch of hypocrites! Can’t we at least get term-limits?

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2 Comments »

  1. Indeed this is correct from a base level. Democrats and Republicans are pointing fingers as to how the current economic mess came into being. But regardless of whom is in power of the house, the cause is the corrupt, reckless behavior of average America, who for decades was fed the idea that ” we’re Number 1!” and that in upholding such a grand idea, must live as if we’re No.1. The easiest path of course was to procure debt. The more people got comfortable with debt, the more debt they procured until having it was deemed healthy by some standards.

    Just to use an example, to this day I do not own a credit card. Instead, I have a simple ATM machine card which functions like cash but doesn’t provide “credit” because I’m obviously paying for what I buy immediately. Logically, you’d expect someone who always pays what they buy immediately as a model citizen. Yet since I have never gotten myself into debt, I am actually less favorable to banks, whom likely want to see a person who willingly takes on debt and pays them back ( with interest) I’ve been told by numerous financial advisers that I should get a credit card, buy stuff, and NOT pay things off right away, but instead ” build credit” in order to gain a high credit score so that I can buy things like cars and houses. That to me seems ridiculous and comes to show that debt is actually encouraged as a positive thing. Something that enables you with purchasing power.

    Whoever takes over the government needs to do some serious re-education of the American people to show them that there is virtue in saving. Lastly, the system of credit scoring needs to be revamped.

    Comment by bob — October 28, 2008 @ 9:59 am | Reply

  2. Credit scoring should be removed as a function of credibility. It’s as much of a scam as forced automobile insurance, which is the precursor to forced medical insurance. But before all this was possible, the government first had to outlaw the use if IQ scoring as a distinguishing attribute in decision-making for jobs and schooling.

    Comment by Punchinello — October 28, 2008 @ 11:57 am | Reply


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