Ezra Klein makes some good points about Republicans and their penny-wise and pound-foolish budget-slashing:
There are three categories of spending in which cuts lead to more, rather than less, spending down the line, says Alice Rivlin, former director of both the Congressional Budget Office and the Office of Management and Budget. Inspection, enforcement and maintenance. The GOP is trying to cut all three.
This is no surprise coming from Republicans who worship at the altar of Ronald Reagan. After all, back in 1989 the GAO had plenty to say about the damage done by Reagan’s short-sighted cutbacks:
Charles Bowsher, head of the General Accounting Office, told Congress yesterday that Reagan-era budget cuts created a climate of lax oversight and mismanagement. He said Reagan’s effort to save some money through budget cuts is likely to cost another $150 billion in the 1990s.
“We have been penny wise and really pound foolish,” Bowsher said.
That leads me to my latest limerick:
Brace For Another Pounding From Pound-Foolish Policies
By Madeleine Begun Kane
Preventative spending is wise —
Lessens risk that disasters arise —
Forestalls flooding and fraud,
Outbreaks, tragedy broad.
Cut such spending? Huge costs in disguise.
