Friday, October 8, 2010

It's the Incompetence, Stupid!


Krauthammer: For Democrats, it's not just that lousy economy and the overhanging debt. It's the monumental incompetence at the most basic elements of governing.
For the first time since modern budgeting was introduced with the Budget Act of 1974, the House failed to even write a budget. This in a year of extraordinary deficits, rising uncertainty and jittery financial markets. Gold is going through the roof. Confidence in the dollar and the American economy is falling -- largely because of massive overhanging debt. Yet no budget emerged from Congress to give guidance, let alone reassurance, about future U.S. revenues and spending.

That's not all. Congress has not passed a single appropriations bill. To keep the government going, Congress passed a so-called continuing resolution (CR) before adjourning to campaign. The problem with continuing to spend at the current level is that the last two years have seen a huge 28 percent jump in non-defense discretionary spending. The CR continues this profligacy, aggravating an already serious debt problem.

As if this were not enough, Congress adjourned without even a vote -- nay, without even a Democratic bill -- on the expiring Bush tax cuts. This is the ultimate in incompetence. After 20 months of control of the White House and Congress -- during which they passed an elaborate, 1,000-page micromanagement of every detail of American health care -- the Democrats adjourned without being able to tell the country what its tax rates will be on Jan. 1.
Read it all here.

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