By Hon. Robert J. Lunn
The Daily Record Newswire
"The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians." -- Henry Hazlitt
I was 9 years old when I lived in Small Town, U.S.A. -- Halifax, Mass.
In my formative years the population there swelled to 1,100. There were no house numbers and no keys to my house, nor to any other house in town for that matter.
In fact, the only keys around usually were found in the ignition of a car. There was one traffic light and one-and-a-half police officers.
I even had an Aunt Bea.
I remember the Chamberlain kids down the street getting two new shiny bikes one summer from Sears -- bright, shiny and metallic blue. They called them "English" bikes and to this day I don't know why, other than we probably felt we had a closer bond with England than with France or Italy.
They were distinctive in their appearance, sleek and fast with thin tires and hand brakes. I wanted one -- I simply had to have one -- and so I began some intense lobbying efforts with my dad.
He explained it to me in simple economic terms: "Bob, you have $15 in your savings account. A new English bike costs $55. You either have to make do with your old bike or save the money from your part-time job until you can afford it."
That seemed simple enough and totally achievable. I had an egg route at the time. Most kids my age had a paper route, but my dad was a poultry man and the profit margins were much better on home delivery of fresh eggs than on newspapers.
My dad never suggested that I put the cost of that bike on his credit card.
I saved the money I earned and, when I achieved my goal, I bought the bike.
If only that small life lesson in the economics surrounding the purchase of a new bike had found its way to Washington, there would be no need for this column.
Instead, I picked up a newspaper last week and read that President Obama had established, by executive order, the bipartisan National Commission on Fiscal Responsibility Reform, also known as the Debt Commission. The commission will be led by former President Clinton Chief of Staff Erskine Bowles, and former U.S. Sen. Alan Simpson, R-Wyo.
The 18-member panel will include eight Republicans, six named by the GOP's Congressional leadership and two by the White House. Can everyone please rise and repeat after me: "Political cover!"
The commission's role is to figure out ways to bring down the federal deficit and propose ways to curb the high costs of Medicare, Medicaid and Social Security. In the words of former tennis great, John McEnroe:
"You can't be serious. Are you kidding me??!"
Here's a Judge Lunn news alert to both my Republican and Democrat friends and all of my readers: You don't need an 18-member panel to do a study. I can give you the answer right here, and it won't cost you more than the price of this newspaper: Cut spending and stop spending more than you have.
We are facing a $1.6 trillion deficit and a $14 trillion debt. A little fiscal responsibility would be so refreshing right now.
Do we really want the Chinese government, our largest creditor, to hold so much of our paper? And, by the way -- for those of you using your calculators at home or your BlackBerrys -- that works out to about $46,000 for every U.S. citizen. That truly is something to think about when you tuck your children or grandchildren into bed tonight.
So, the Debt Commission has been commissioned to do a study to tell us, after much study, what we already know: Our government is engaged in out-of-control and unsustainable spending. How sad is it that both Republicans and Democrats see fit to engage in such ridiculous political theatre while, at the same time, insulting our intelligence?
Do not be distressed, dear readers. I have a solution. First, abolish this politically-motivated commission and save taxpayers the time and money to get to the obvious conclusion.
Secondly, have both major parties do what every American household aspires to do: Come up with a deficit-neutral budget and stick to it, without all the pork and earmarks.
Lastly, adopt a symbol of this commitment to fiscal sanity. Might I suggest a bicycle and perhaps a monument of that bicycle right in the middle of Washington, D.C.? It is much more attractive than those weird pointy hats of the Tea Party members.
The Hon. Robert J. Lunn served for 14 years (1995 to 2008) on the New York State Supreme Court. He is a partner at Trevett, Cristo, Salzer and Andolina. Lunn is the contributing author to three publications from West Publishing, the most recent being The Companion Handbook for Pattern Jury Instructions. He can be reached at rlunn@ Trevettlaw.com.
Published: Wed, Feb 24, 2010
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