I wrote this comment in response to this post.
"The fundamental flaw in this strategy is that the Federal government has a capacity to borrow at a scale far beyond that of any state. It can also do two other things.
The first is - conduct accounting fraud by hiding the true costs of it's many schemes and promises. California is the poster child for this, but the Feds, being larger have even more places to hide dirt. They are also protected by the size of their own lies since seeing them clearly means realizing how much trouble we are in.
The final capacity is much more scary. The government's ability to print money, means they can try to evade their debts and this is what they are doing. Will most people recognise skyrocketing inflation was caused by the government? I doubt it.
If I had one piece of advice it would be to target the concept of corruption and lying. A move to mandate honest fiscal accounting on all levels of government would be the right thing to do. All of the corpses carefully stuffed in government closets and under rugs are being revealed and the stink should be unbearable by election day 2012.
The one thing we have seen is that when the true costs of the government we have are exposed- people want smaller government."
Of course an honest look at government numbers at all levels will will expose lots of people from both parties to all kinds of heat since the growth of the state to this scale has been a decades long bipartisan process involving all levels of government, including the courts. It will also decrease the power to hand out money and favors that seems to have attracted many to politics.While this may be very painful to many Republicans, it will prove fatal to the Democratic party.
I know that accounting seems like an obscure area to many. But that's the way people felt about Madoff's ponzi scheme as well-- untill the checks stopped rolling in.
The rallying cry for 2010 should be -- One people, united against fraud.
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