Meet Your New Friends …. Same as Your Old Friends

November 5, 2008 by  
Filed under Economics

Mr. ToughMoneyLove has voted in elections since 1968.  In 1971 The Who (remember them?) released my favorite of their songs, “Won’t Get Fooled Again.”  I think of that song each election night, particularly the last lines:

Meet the new boss

Same as the old boss.

Tonight was, as most expected, a solid victory for the Democrat party.  To Mr. ToughMoneyLove, the personal finance blogger, it means very little.  We will have a new boss.  That new boss can only spend what Congress appropriates.  That new boss can only tax what Congress authorizes.  We have had eight years of a borrow and spend Congress.  The first six of those years, the Republicans were to blame.  The last two years were presided over by Democrats.  Could you tell any difference?  I couldn’t.  (OK, maybe the last two years were worse than the first six.)

So the new boss is stuck with a House and Senate that remain populated with (mostly) incumbent pork lovers who borrow, spend, rescue, and bail-out with little hesitation.  Many of the politicians who were voted out will now become high-paid lobbyists.  Your new friends are the same as the old friends, with some extra taxation thrown in.

So if your candidate won, enjoy the adrenaline rush.  But please don’t be fooled.  As I explained earlier this week, only you can solve your financial problems.  The government will be too busy getting in your way and creating more problems for your money, mostly by spending it.  And in that respect, our new boss is the same as the old boss.

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4 Responses to “Meet Your New Friends …. Same as Your Old Friends”
  1. Pete says:

    I have to agree, there’s only so much difference between the parties anymore, they both love to appropriate and spend out money, and hold on to their own power with everything they’ve got.

    Try to cut back government spending? forget it. Spend within their means? Yeah right.

    Last night our state passed another tax increase. It was sold along the lines of “If you love the environment and the arts, you’ll raise your own taxes. Don’t be selfish.” unfortunately, enough people fell for it, and our taxes just went up.

    Here we go with another 4-8 years of increased taxes, government waste and broken promises.

  2. Pete: I am shocked that your state citizens raised their taxes in this economy. You have my sympathies. My state does not have an income tax. We have high sales taxes but guess what- buy less stuff, pay less tax. I love that concept.

  3. But wait, isn’t Obama going to bring change and hope? I thought this was a new beginning for the American people!(:rolls eyes vigorously:)

  4. MGL – Elections always bring hope, particularly among young idealistic voters who don’t know any better. Four years later, those hopes are often replaced with despair, emergence of yet another candidate for change, and it starts over. I don’t need change. I just want the government to leave me alone.

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