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Are We Broke Yet? Michael Moore Says No,Rachel Mancow Says No, Reality Begs to Differ

"The nation is not broke, my friends," opines guerilla filmmaker and amateur accountant Michael Moore. "Wisconsin is not broke. Saying that the country is broke is repeating a Big Lie."

Relax, America, it turns out that all that talk about local, state, and federal government being broke is just total B.S. or, as The New York Times puts it, "obfuscating nonsense...a scare tactic employed for political ends."

Moore is a bit skimpy on evidence, simply asserting that all we need to do to make things right is to shake down rich people who "have diverted...wealth into a deep well that sits on their well-guarded estates." The Times' case isn't much more compelling. "A country with a deficit is not necessarily any more 'broke' than a family with a mortgage or a college loan," says the paper of record. "And states have to balance their budgets."

OK, but what should you call a family or a country that spent about 20 percent of GDP for each of the past 60 years while raising less than 18 percent of GDP each year? And that is facing a massive balloon payment (let's call it entitlement spending on Medicare and Social Security) in the not-too-distant future? And has to keep borrowing money just to pay today's bills? And has no chance of increasing its take-home pay to cover its expenses?

It's a pretty safe bet that most of us would call that family or country broke. Or something along those lines.

Here are federal deficit projections from President Barack Obama admits in his own proposed 2012 budget that the red ink will continue to flow for as long he may be in office.

And what about the states? It's true that states have to balance their budgets each year by law. But that doesn't mean they don't spend more than they take in. Wisconsin alone is looking at a shortfall of $1.8 billion in the next year. Here's what the Center on Budget and Policy Priorities says about the mismatch between spending and revenue: "2012 is shaping up as states' most difficult budget year on record. Thus far some 45 states and the District of Columbia are projecting budget shortfalls totaling $125 billion for fiscal year 2012."

Then there's local government. The National League of Cities is estimating that aggregate revenue shortfalls between 2010 and 2012 will end up totaling somewhere between $56 billion and $83 billion.

As President Obama put it plainly in his State of the Union Address just a few weeks ago, "We have to confront the fact that our government spends more than it takes in. That is not sustainable."

So call us broke or call us flush with cash. Whatever. Unless you think our elected officials are like Charlie Sheen - able to cure our problems simply willing it - our fiscal reality isn't going to get better by pretending that we're not in deep trouble.

Maybe acknowledging that you've got a problem really is the first step to fixing it. If that's the case, we've still got a ways to go before we even start doing the hard work of cutting out of control spending at every level of government.

In the meantime, read "The 19 Percent: How to balance the budget without raising taxes," "Failed States: After a long spending binge, governors go begging for a handout. It won't be their last," and "How to Save Cleveland: Turning around America's dying cities is difficult, improbable, and necessary.

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Added: Mar-7-2011 Occurred On: Mar-7-2011
By: star53
Tags: Rachel Mancow, Michael Moore, Obama, broke, reason, tv
Views: 6450 | Comments: 19 | Votes: 1 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 1
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  • Anyone who actually listens to this ugly tranny, or that fat disgusting never-worked-a-day-in-his-life loser hypocrite, is a retard who should be neutered immediately for the sake of the species.

    Posted Mar-7-2011 By 

    (8) | Report

    • Thats not a very nice way to talk about Ann and Rush.. LOL

      Posted Mar-8-2011 By 

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    • Who can't love someone that prefaces his comments with personal attacks to justify HIS false claims.

      Let's DO recall who had the biggest deficit since WWII and was called an "APPEASER" by Conservatives....why it was the Ronnie.

      So try and stick to the "issues" and until YOU are ready to post YOUR personal information for public consumption and redicule/objective observation...then maybe you should think it through. You just sound like an angry little person...a racist/hater More..

      Posted Mar-8-2011 By 

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  • Reduce the size of gov't - - - Balance the Budget - - - Stop Borrowing Money ! ! ! Why should we do all of these ? ? ?

    Posted Mar-7-2011 By 

    (5) | Report

  • *sigh* It is 2013 yet?

    Posted Mar-7-2011 By 

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  • Comment of user 'bouymarker' has been deleted by author (after account deletion)!
  • didn't the fat slob also say that American's wealth are the citizen's resources? When is that fat greedy lying leftie socialist slimeball pig sending me my check?

    Posted Mar-8-2011 By 

    (1) | Report

  • When times are tough, people who have a trade or a skill will get by better then the guy who knows how to sell widgets. We don't manufacture any more because it pollutes! Let China make it with cheap labor and let them pollute so it makes America look like the leader in stopping global warming! Don't drill for oil, don't make nuke plants because look what happened in Chernobyl.... on and on it goes! Teach our kids to swing a hammer and throw that text messaging bullshit phone out the window!!

    Posted Mar-8-2011 By 

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  • I am tired of the jew michael moore spreading propaganda. Retire damn you!

    Posted Mar-8-2011 By 

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  • Repeating lies? Skimpy evidence? America is embarrassing itself in 2 failed wars based on these very things. When it's time for more funding of these wars, Congress has no problem getting out the checkbook, now do they?

    Posted Mar-7-2011 By 

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  • You have never posted anything that was even remotely reality based .

    Posted Mar-7-2011 By 

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