Monday, August 29, 2011

Rick Perry Doesn't Care About America Paying Its Debts

The Rick Perry campaign has been hysterically trying to deal with the blowback of the book "Fed Up!" It is bad enough that Perry had Newt Gingrich write the forward. Ray Sullivan, communications director, of the Perry campaign told The Wall Street Journal that Perry views on Social Security in "Fed Up!" are "a look back, not a path forward." Translation: the Perry campaign is saying that the views in a book published 9 months ago don't express the current views of the governor. Apparently, Perry hasn't received the memo from his own campaign.

Perry told The Daily Beast that Medicare is unconstitutional and Social Security is a Ponzi scheme. Perry made the same statement again about Social Security on a recent campaign stop.

"It is a Ponzi scheme for these young people," Perry said in Iowa, mimicking his pre-presidential campaign language on the subject of Social Security.

"The idea that they're working and paying into Social Security today, that the current program is going to be there for them, is a lie," Perry added. "It is a monstrous lie on this generation, and we can't do that to them."

Perry is a not ready for prime time player. Eliminating Social Security and Medicare will not play with older Republican voters. A March WSJ/NBC poll showed three out of four Americans do not support cuts in Social Security and Medicare.

Perry's misunderstanding of the Constitution leads to to advocate that America ignores the 14th amendment and not pay its debts. Perry is telling people that the government will not give a return on the Social Security retirement fund they put their money into. Perry doesn't say why. Perry does make clear he doesn't support Social Security. Therefore, he fearmongers.

The "cut, cap and balance" bill failed to pass in the Senate. On August 1, the day before the debt ceiling deadline expires, Perry refuses to support the House & Senate deal that got budget cuts and no tax increases. Perry is saying he would rather let America default. Perry, the so-called fiscal conservative, has no problem with America not paying its bills.

"Cut, cap and balance" illustrates how unserious Perry is about policy. The legislation did not have the 51 Senate votes to become law. How does Perry think "cut, cap and balance" will get 67 votes to become a constitutional amendment? Another problem is the bill is it is not fiscally possible.

Total outlays for any fiscal year shall not exceed 18 percent of the gross domestic product of the United States for the calendar year ending before the beginning of such fiscal year, unless two-thirds of the duly chosen and sworn Members of each House of Congress shall provide by law for a specific amount in excess of such 18 percent by roll call vote.

The fiscal year of 2012 starts on October 1 of 2011. Congress would have to make a budget not knowing what the entire GDP would be. There would be not way to be certain if Congress went over or under the 18 percent of the GDP threshold until after the fiscal year over. It is the equivalent of filing your taxes before the fiscal year started. The fact that Perry would support such an unworkable proposal and advocates that it pass after it was already voted down in the Senate says much about his lack of understanding.

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