It will be interesting to see how Republicans interpret their mandate next year.
If they are serious about cutting the deficit, thy will have to tackle middle class entitlements. Property taxes for all homeowners will have to be reflective of services received. Programs like Prop 13 in California, which allow long time homeowners to pay far less tax than recent purchasers will need to be eliminated. Fees paid by those who use a disproportionate amount of government provided services, infrastructure and resources must reflect the actual value of what they receive. Home mortgage interest deductions on income tax will also need to be eliminated. Public sector pay, benefits and pensions will need to be drastically reduced. Medicare and Social Security benefits must be controlled and curtailed. War and military spending must be cut. Monetary policy must be tightened. Corporate and agricultural welfare programs must be abolished. Interest rates must be raised, bailouts for entities public and private that go belly up must be stopped and what money has already been given out must be recovered quickly.
Simply repealing Obama care, abolishing social services, educational subsidies and entitlements to the poor will not make a dent in the budget deficit. Most of the money that the government pays out goes to people who genuinely believe that they have earned and are entitled to every cent of it. I bet some of that money goes to you. I get some. We all do.
Another legislative emphasis that the Republicans have to address are on social issues. Fully 35% of the American public expects them to move to outlaw abortion, stamp out homosexual civil rights, make a secure place for the observance of religious moral law in secular life and amend the Constitution to deny citizenship to native born children of non citizens, not to mention getting rid of the aliens themselves.
If they address and act on all of these things, they will satisfy their base. Things won't be that bad. Probably no worse than they were in the immediate post war period of the late 40s and early 50s and maybe considerably better. We already have a lot of the infrastructure we need. A lot of housing is already built, it just needs to be utilized differently. Eight people could easily and comfortably live in my house. The power and utilities won't go away, people will just have to use less. The internet and satellite TV are everywhere and a lot of people will make them a big priority, I bet. We aren't going to go back to a segregated society overnight and homosexuals aren't going to be driven back into the closet. America isn't going to become a theocracy, nobody goes to church or really gives a shit about God. I don't, do you?
If our money inflates enough and personal income decreases, imports will decline, exports will increase, employment will rise and America will be on its way back from the brink.
I don't personally think much and maybe not even any of this will happen. The American people are spoiled and the politicians elected by them will continue to give them whatever they want. Deficits will remain high. Productivity will remain low. All the middle class entitlements will remain in place. Eventually, the rest of the World will foreclose on America's debts and we will default. There will be a complete fiscal, monetary and governmental meltdown. It's not the end of the World. History is littered with episodes like this. Iceland is broke, cold and isolated in the middle of the North Atlantic. They don't have a damn thing anybody else needs and aren't likely to anytime soon. I haven't heard that they're eating each other there yet or even the dogs. It happened in France and Italy about every six months for generations. They seemed to like it. It happened to Germany after Word War I. Five years later, the Third Reich was in place and everybody was happy. Well, almost everybody.
Me, I don't really care how it goes. I'm eager to find out though. Bring it on.