This just in from the National Governor’s Association session:
“Vermont Gov. Peter Shumlin says he’ll try his best to convey to officials in Washington that budget cuts under consideration in Congress are unacceptable.”
Here is a Cato article on the current argument about the proposed budget cuts being too much. This will put the proposed cuts in perspective. The total spending proposed for 2011 is $3.819 TRILLION, with a projected deficit of $1.645 TRILLION. 207 BILLION goes toward the interest on the debt.
Keep in mind that these figure only refer to proposed spending in 2011 and not the entire national debt, which is currently at just over $14 Trillion, not including unfunded liabilities. When it comes to unfunded liabilities, I have seen numbers as high as $144 Trillion. Just the unfunded liabilities puts each individual taxpayer on the hook for $1.2 Million and that number is exponentially increasing as of late. In light of all this, there is a huge outcry over a proposed $61 Billion in cuts for 2011. It is absolutely insane.
In a way, Governor Shumlin is right. The proposed cuts are unacceptable. They are far too LITTLE! We are headed toward a fiscal crisis and we need to start acting like adults instead of a bunch of spoiled children crying when their parents take a small pice of candy, out of barrel full, away from them. The parents should be taking most of the barrel full away. The fact that such paltry proposed cuts is even a point of contention is absolutely ludicrous.
When are we Vermonters going to wake up and elect some real political leadership?