Imagine that Uncle Sam suddenly morphed into Samuel Smith, CEO of Federal Enterprises, Inc., a conglomerate with 2.8 million employees in 2009, $2.2 trillion in revenues in 2010, and a proposed budget of $3.7 trillion for 2012. If this private company were run the way Washington works, newspaper headlines soon would scream: “MR. SMITH GOES TO ATTICA.”
Washington’s routine accounting methods would trigger indictments against similarly behaved business executives. In fact, people have been convicted for operating as Washington has for decades.
• Consider the Obama administration and the previous Democratic Congress’s mishandling of $500 billion in Medicare funds. If Republicans proposed to reduce Medicare’s cotton-ball budget by 1 percent, Democrats would scream, “Dachau!” And yet Democrats, of all people, swiped half a trillion dollars from Medicare to finance Obamacare. Democrats also claim that this sum will underwrite Medicare benefits. Which is it?