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Steve McIntosh Report Blog Archive

Making sausage

Here’s the exact quote. Otto von Bismarck said: ‘Laws are like sausages. It’s better not to see them being made”.
I’ve been following media coverage of this legislative business regarding the debt ceiling and deficit spending in Washington. I find it terribly confusing. Is that on purpose? Do lawmakers use the confusion as a smoke screen to hide what is actually being discussed?
The issue seems simple. If the debt ceiling is not raised by the deadline, the U-S government defaults and its credit rating plummets. This could cause economic problems that may impact the entire world. I say, please don’t let that happen.
As far as deficit spending, I’ve been harping on that for four decades. I say, please control spending … adjusting so-called entitlements as needed.
As far as taxes are concerned, the Bush tax cuts don’t seem to have done a lot of “job creating”. Let them expire. But know this, I want to see serious fiscal responsibility … and that means controlling spending.
Our thought for today is from Henry Adams:
“Practical politics consists in ignoring facts.”

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Topics : Business_Finance
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Locations : Washington
People : Henry AdamsOtto von Bismarck

08/01/2011 1:09AM
Making sausage
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