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Monday, March 11, 2013

Rand Paul is spitting into the wind. Unfortunately so from my perspective, but it's what he's doing all the same.

Pew recently released the results of a survey in which respondents were asked whether they would increase, decrease, or maintain current spending levels across 19 different expenditure categories if they were writing up the federal government's budget. The following table shows the public appetite for spending increases (decreases) by category, computed by simply taking the percentage of respondents who indicated they would increase spending in an indicated area and subtracting from it the percentage who said they'd decrease it (and letting be the percentage who wanted to keep it the same). The first numerical column shows the broader public's predilections. The three subsequent columns show results by partisan affiliation:

Spending up (down) on...TotalRepDemInd
Education50317047
Veterans' benefits47484547
Social security31184625
Combating crime27244219
Natural disaster relief2233321
Roads and infrastructure2172527
Medicare2134515
FDA inspections19(5)3817
Scientific research17(10)3717
Health care16(28)5111
Energy15(5)3413
Agriculture1422311
Anti-terrorism defenses1326181
Environmental protection11(28)4410
Military defense837(4)1
Aid to needy in the US3(40)303
Unemployment assistance(8)(47)28(12)
State department(20)(26)(13)(20)
Foreign aid(27)(63)8(33)

Statism is alive and well in the US. Combined spending for unemployment benefits, the state department, and foreign aid--the three areas for which there is more desire for attrition than accretion--constituted less than 5% of all federal government spending in 2012. While there is some aversion to sending our pooled money overseas, the masses want it gathered up and spread around by a federal apparatus at home.

Even self-identified Republicans want spending increases in more areas than they want decreases, and more importantly, in the three gargantuan spending categories--social security, defense, and medicare--they want the federal government to spend more, not less, than it's currently spending. In 1980, Reagan's platform included abolishing the department of education. Today, only one in ten Americans (and barely one in seven Republicans!) say they'd like to see federal spending on education cut, let alone abolished entirely.

Leviathan loves the tacit agreement between Demopublicans and Republicrats to allow for increases in international defense offense defense spending in return for acquiescence to increases in domestic spending back home. Consequently, the only outlay category that voters in both parties express a desire for cuts in is the state department (with a $0.030 trillion budget from the $3.746 trillion the federal government spent last year). What percentage of Americans even know what the state department does? Besides being derelict in attacks on diplomatic missions in places like Benghazi, that is. Heh, maybe that's why they aren't overly eager to give it more money.

I'm not qualified to proffer financial advice, but every day that passes sees me becoming more and more satisfied with the investment strategy I've been employing for the last few years--buying gold and silver, exclusively. In retrospect, I wish I would've started when I hit legal adulthood in 2002. Better late than never, though, I guess.

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