Wouldn't
it be refreshing to hear a politician use the terms "hard boiled",
"surplus" and "prudent fiscal management" in government
budgeting?
Listening to an old-time
radio show, I heard a 1948 speech by President Harry S. Truman promoting the
"U.S. Security Loan Drive," aimed at encouraging citizens to buy U.S.
securities, for their and U.S. security. Truman emphasized volunteerism,
thrift, saving, and other prudent living practices. Alas, today, politicians
would rather buy votes with confiscated tax proceeds (aka wealth
redistribution) than encourage prudent living practices.
It struck me that Truman
asked citizens to buy bonds, so apparently he wasn't depending on the magical
(and risky) power our Federal Reserve has to buy bonds.