Tuesday, August 25, 2009
Transparency and Open Government
I'm keeping President Obama's executive order regarding transparency and open government in mind as I watch the spinning, red numbers grow larger and larger here.
Each one of us--rich, poor, child, adult, man, woman, minority, majority, Democrat, Republican, left-wing radical, right-wing extremist--as of this moment own $38,187 of the national debt. Then there's $191,845 per citizen of unfunded federal liability. Tack on more than $24,000 per each man, woman and child of private debt, and each of us should subtract more than $254,000 from our net worth. If you're like me and most ordinary, working Americans President Obama is fixing stuff for, you're a couple of hundred thousand in the hole. And the hole's going deeper, perhaps clear through to China.
That's change we can believe in even before adding $1 trillion--most likely many trillions more using the sordid history of federal cost estimation failures as a guide--Obamacare is estimated to cost. If the Obama Administration truly wanted to fix stuff, it would mandate every American to pass a written economics exam before he or she walks into a polling place.
Buying groceries, gasoline, shelter, prescription drugs, and clothing with dollars that are worth less is the most cruel tax of all. This growing burden results from our exploding national debt. Inflation is this disguised, disgusting tax everyone who spends dollars pays. It has the greatest impact on the people President Obama claims to care about the most, the working poor.