Parts of Warren Buffet’s annual letter to
shareholders, published in the March 7, 2016 edition of Barron’s, speaks to his
rosy outlook that the next generation of Americans will do better than the
previous. He says “The babies being born
in America today are the luckiest crop in history.” For proof he offers projected growth in GDP,
life expectancy and concludes that “America’s golden goose of commerce and innovation
will continue to lay more and larger eggs.
America’s kids will live far better than their parents did.” However Mr. Buffet ignores the state of the national
government.
The Constitution has been shredded over the past 80
years and the debt and liabilities of the government are over $120 trillion and
growing at over a half trillion dollars annually – and this does not include
the debt of the States. If Greece is a
financial basket-case with debt at some $40,000 per capita then what does that
make America with debt at over $54,000 per capita. Entitlements are unsustainable with no
political will to rein them in. Regulations
cost the economy over $1.8 trillion annually, which is chocking investment and
growing larger every year. Taxes must
double to even start to approach what the true cost of government is.
For a man who knows well the danger of debt, taxes
and over regulation, Mr. Buffet’s optimism seems out of place, as financial reality
will crush the golden goose that Mr. Buffet relies on.
The question for America is not whether the next
generation will do better than the prior, but will the American dream even be
available for the next generation. This
brings us to the state of the presidential race – abysmal!
The Democrats have fielded candidates that are almost
dead and red. Hillary Clinton at 68 and
Bernie Sanders at 73 were born in the 1940s.
Their far left policies date back to the failed central control
communism that brought the collapse of the Soviet Union and are seen in the
mass misery in Cuba, Venezuela and North Korea.
Free stuff for all is not free.
Someone pays and eventually those that pay get tired of paying for those
that do not pay.
Then there is the Republican field. The presidential debates that have turned into
the old Saturday Night Live skit of Point-Counter-Point where Dan Aykroyd’s first
response to Jane Curtin is “Jane you ignorant slut”. Political discourse has been reduced to
making comments of Trump’s hands or Rubio’s height. Each of the front runners call the other a
liar. Policy is not even a serious
discussion as the media goads the other candidates to attack Trump about this
or that.
After, what would be 16 years of arguably the worst back-to-back
presidencies in history, of Bush and Obama, the state of the union is in doubt. Together these presidents have quadrupled the
debt to $19 trillion, recklessly expanded entitlements, gave private companies
bailouts, spent nearly a trillion dollars on a failed stimulus, produced an
economy of anemic growth of barely 2%, stabbed job creation to leave real unemployment
(U-6) still at 9.8%, encouraged welfare rather than employment so that there is
the lowest workforce participation since the 1980s, and took us into two wars, enabled
the rise of Islamic terrorists, set the Middle East in turmoil, put Europe at
threat from Russian aggression, rewarded Iran’s disregard to U.N. resolutions with
permission to continue nuclear and ballistic missile programs, allowed China to
build a military base in international waters, and saw North Korea develop long
range ballistic missiles that can carry nuclear warheads.
A clear-eyed, non-partisan analysis of the country is
that it is in a serious state. Few give a
hoot about the Constitution and limited government by the people. Government is promoted as the source of
solutions but the problems it creates are ignored. Most think government decides what rights
people have instead of the other way around.
Waste, fraud and abuse easily claims a half trillion dollars annually but
remains only a campaign slogan and not a serious policy issue.
We need to rise and demand better, for if there is truly
a responsible citizenry then it does not matter who we elect. Join the dialogue, get informed with facts – not
media blather, and reason a judgement toward your vote. Our nation and the light of liberty are in
the balance this very important election cycle.