DIFFERENCE BETWEEN FISCAL CONSERVATIVES AND FISCAL PROGESSIVES
I have never been secretive about my fiscal conservatism. It is coupled with social liberalism because lower-case “L” libertarians understand that social liberalism is a luxury one can afford only if one is simultaneously a fiscal conservative. Yesterday’s Washington Post (December 15, 2021) carried an article that perfectly illustrated the difference between fiscal conservatives and progressives.
Fiscal progressives justify spending based on the good it will do. The focus is on a measure that sends monthly checks to parents. “Democrats have broadly touted the {accelerated} payments – delivered now on a monthly basis as a critical endeavor toward combating child poverty and helping low-income Americans afford expenses including education and food.”
{Senator Joe} Manchin, a fiscal conservative, has expressed general skepticism about approving aid that sends more checks directly to Americans. “If we keep sending checks . . . it’s going to be hard to stop the checks.”
And that’s it, the whole difference. Governing is about making hard choices. Fiscal progressives disagree.
Some may eventually understand that transfer payments now consume some 60% of outlays and are projected to reach ~ 70% of outlays in a few years. Our stability has allowed considerable strength to the dollar as investors enjoy our economy. Our military has largely kept the world calm or at least limited the real hazards of millions dead per year from war. Kissinger attempted to tie us all together economically in order to reduce the hazards of conflict. We can hope the Chinese appreciate their consumer base as they arise. More to the point the world has indulged in currency froth to the point of monetary capital being nearly worthless. Interest rates reflect the shift. I'm not sure when the collapse arrives as we discover we can't afford the military anymore because interest on the debt requires some cuts that will be difficult for politicians to make.
Few of us are capable of producing our own food like those victory gardens of WW2 when transfer payments fell to some 2% and life was much, much harder. Much of the world well understands not eating. Few of us on our screens can anticipate hardship. Our worries over trans athletes may be of much less concern.
Are we there yet? The insanity of this pandemic certainly has been a good preoccupation and allowed us to do things fiscally we may have never done before. But as another foot in the gravy, I do worry. The politicians have no idea how mad some will be if the worst unfolds.