I heard Governor Jindal spouting that States just like households must balance their budgets. On the surface this makes a lot of sense, however upon closer examination, the Governor's statement is riddled with fallacies.
Let's see. How many people have mortgages, car loans, credit card debts and maybe even student loans? Cities, counties and States finance capital improvement via bond issues. Using Jindal's logic, unless we can pay cash, we should only have what we can pay cash for.
Ideally, this would be great, realistically, it isn't going to ever happen.
The solution, carefully managed debt, reduction of expenses and additional income. However, it will take statesmen and not politicians to achieve this balance, because politicians are beholding to their special interest groups. Our current congress is prime example of being occupied by politicians and not statesmen.
As an after thought, why doesn't Congress and the Senate cut their salaries and perks? Why are they exempt, what makes them so special?
As an after thought, why doesn't Congress and the Senate cut their salaries and perks? Why are they exempt, what makes them so special?
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