In hock signo
If we're not mistaken, the Oregon legislature cranks up again in Salem today. As usual, we observe the opening of the session with a vague sense of dread. Salem's a pretty dysfunctional place, and the potential for harm is great -- even without Nutsy Smith on hand.
One thing the politicians are nattering about is the fact that the state has some additional "debt capacity" coming on -- new amounts that they can legally borrow to spend on whatever their hearts desire. Treasurer Ted is urging caution, but a lot of the legislators are like young kids with their parents' credit cards. They see "debt capacity" as found money. If they haven't mortgaged themselves, and us, to the hilt, they feel like something's wrong. Let's hope they act like smart grownups for once and leave the plastic in their wallet.
Comments (10)
" If they haven't mortgaged themselves, and us, to the hilt, they feel like something's wrong."
It's for the children.
It will be waiting for them.
Posted by sally | February 4, 2013 10:42 AM
Why should any state government be expected to behave differently than any city, county, metro regional, or federal governments?
They have all learned by experience there are no consequences to overspending, but heavy resistance to any show of thrift and economy.
Fiscal conservatives will lose this battle as they have lost most previous attempts to live within any budget at any level. A few may VOICE an objection to additional spending, but talk is the only thing cheap.
Posted by ltjd | February 4, 2013 10:42 AM
Let's hope they act like smart grownups for once and leave the plastic in their wallet.
Ya, good luck with that....
Posted by Jeff | February 4, 2013 11:03 AM
This may start generational comments again.
I suppose fault can be pointed on various generations that have not been responsible in decisions made that were detrimental for future generations, but it seems to have escalated with the group in charge now.
There used to be an expression about the wisdom of elders, what happened?
If we as a culture had heeded instead of herding folks into cushy retirement enclaves and playing, we might have had a better outcome with the direction of our country. Sure, there are a few elders who stuck around and some of those perhaps too long.
But it is like the keys were given too soon to the following generation, spoiled ones without the wisdom needed, who then thrive on wanting more, more and more.
Essays may have or could be written about what led up to this.
Posted by clinamen | February 4, 2013 11:45 AM
The people who send most of the tax money to Salem, don't seem to have much of a voice.
Posted by David E Gilmore | February 4, 2013 11:47 AM
6B
Posted by snow dog | February 4, 2013 12:23 PM
Of course the only ones they will listen to is OEA,SEIU,and AFCSME and their greedy lobbyists.
Posted by matthew vantress | February 4, 2013 1:45 PM
Remember, years ago the dollar was actually worth something. With FED policy now going on since 1913 (100 years) they have managed to make the dollar a sad version of its former self.
It is no wonder that governments are in hock. And sure they spend tax money on goofy stuff, but all the basic services cost a whole hell of lot more than they used to because of the crippled dollar.
Of course we are not allowed to talk about the FED (a private and international group of banks) because they are also masters of controlling the narrative.
Posted by Tim | February 4, 2013 1:53 PM
Oh boy, they got their credit card limit raised. At least we know where part of the PERS payment this session is coming from.
Posted by Steve | February 4, 2013 3:14 PM
"With FED policy now going on since 1913 (100 years) they have managed to make the dollar a sad version of its former self."
I don't know if I'd blame the Fed, they are more a tool than instigator. I'd go back to the modus operandi of most politicians.
In order of ease:
1) Spend more and raise debt ceiling
2) Pass a law
3) Raise a tax
4) Actually cut spending (a distant last place)
I don't know if I'd pick on the USA since we are still THE reserve currency (even with National Debt > 1 year worth of GDP), but we are the leper with 4 fingers in the world colony.
Posted by Steve | February 4, 2013 3:17 PM