Fallout from Spending Exceeding Income

Cal Thomas

Fallout from Spending Exceeding Income

All over the country we are seeing examples of what happens when spending exceeds income. The federal government is a prime example, but so are some states.

Tiny Rhode Island is facing the prospect of cutting pensions for retired public servants due to a nearly $7 billion shortfall. This is the result of unions and democratic politicians constantly upping the ante for government workers in part to make sure they keep voting for democrats. It’s a clever strategy, but it’s over. If it isn’t over, then America is over.

Then we have the Postal Service. The agency is as old as the country, but it’s threatening to shut down this fall unless Congress relieves it of a $10 billion payment to the government. It wants authority to lay off hundreds of thousands of workers, close some post offices and end Saturday delivery.

The internet has freed many of us from paying bills through the mail; same with letters, which are almost a remnant of the past. Change can be good if it’s managed properly. That’s what we need – new management. And we have the chance to get it in just 14 months.

I’m Cal Thomas in Washington.

Publication date: September 8, 2011      

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