The budget process is a huge opportunity to downsize government and to cut dramatically the massive deficits that endanger the future of our kids and grandkids.
Unfortunately, there is a deadline mid-March, and the House Republicans have been dawdling on the massive opportunity that could be exploited via one or two reconciliation bills. I recommend starting at the 2:00 mark:
The GOP needs to show , as Dave Brat says, will , focus and force to get the job done correctly.
It seems they are content nibbling at the edges, at best, Fred. I hope there is a turnaround with “force and focus”, as you say.
Brat means to be saying that there is a secular down trend in productivity growth since the 1950s, not that there is no productivity growth. In the 60s it used to average ~3%/yr and now it averages I think ~ 1.5%. It is quite interesting that so many tech advances (computers, cell phones) were not powerful enough to overcome stagnating forces.
I think this correlates with the massive extension of govt tentacles over this period; shrinking the cancer by cutting govt spending and regulation wherever it may be cut is the answer. As Steven K implies, another omnibus bill will evince the innate corruptness of govt in the face of the message the electorate tried to send.
I agree, Healey. It will be fascinating to see what the Republicans put together, keeping in mind they have narrow majorities and very weak members.
I wonder if the loss in productivity growth is also cultural.
“I wonder if the loss in productivity growth is also cultural.” Vivek has lately said something along those lines.
I would observe that Beyonce is celebrated while the inventor of the microchip–the basis of incalculable present human benefit–is virtually unknown. There is a lot unhealthy about our culture, what we celebrate a mere emblem I suppose. Abandonment of meritocracy…is that cultural or govt? Orwellian abandonment of truth telling pre-Nov’24 was an interplay of culture and govt power.
Culture is surely part of it, Triad, but the pervasive growth of government tentacles–preventing/weighing on all manner of what would otherwise be human voluntary exchange–explains a lot of it too. The entrepreneur is more hamstrung as the govt-privileged corporate sector grows.
No doubt about that, Healey. It amazes me to see how far we descended from our high points in the 1950’s and the late 1980’s.