We live in the best of times, we live in the worst of times… and they are related and caused each by the other.  The best of times with an economy we have not seen ever.  This economy is producing record taxes, it is producing unprecedented disposable income, it is even producing record charitable giving.

We live in a time of unprecedented productivity, we can communicate with a click of a mouse with our grandchildren or get the latest news from the other side of the world.

 The best of times is a world without threat of war, without massive and fearful enemies.  Oh, sure we have enemies, but we do not fear a large army massing and about to attack us or our allies.  We are in a time of small enemies and small fears.

 We live in a time of comfort and relaxation of tension and apprehension.  Yet it is the worst of times, with many of the fears are right from these “best of times”. 

With so much disposable income especially in our kids, the entertainment industry seems to get grosser and grosser to attract that mountain of dollars.  The music and movies seem to get more vile when you thought that it could not be!  And some are asking the government to save us from consuming such trash.  A little ray of sunshine on this issue.  I just spent a few days in the Gatlinburg/Pigeon Forge Tennessee area… Yes, I know it is a tacky tourist area, but in seeing several shows and enjoying Dollywood, I can report to you that I saw a lot of people including me enjoying entertainment that did not have one vulgar word, no sexual innuendoes and even glorified God.  It can be done! 

The best of times comes unfortunately at a time of a presidential election.  It is a time politicians bring out the worst in us, heighten our fears for political gain and shamefully exploit our dark side of gimmee, gimmee, gimmee.

 With a surplus in our federal budget that only a few short years ago we really did not see an answer.  About 6 years a go President Clinton mused about the possibility of balancing the budget is 6, maybe 7, perhaps 10 years.  To a politician who deals in the short term (the time to the next election) 10 years is forever… or more importantly, never. 

So now we have a tax surplus.  And the big debate is what to do with it.  Spend it, save it, pay off the debt.  The winning argument is to spend it.  The best  vote getter is to add another benefit to Medicare, prescription drugs.  The winning argument will always be the candy man.  So, why is this the worst of times?  Instead of solving Social Security and Medicare, we sink it further in the depths of the unsolvable. 

So why not pay off the debt?  Sure, but we have no mechanism to guarantee we do this.  By keeping taxes high and spending a little less, the difference goes to the debt… if it all works out ok.  But there is no legislation that mandates.  

With this huge surplus, why not tax cuts?  Should be, but too seems now to be a problem.  The candy man can’t pass out the goodies without supply.  We all want our piece of candy. 

So what is so wrong with buying prescription drugs for our “greatest generation”?  Of all the ways to spend the surplus this is the most risky.  Once a “entitlement” is in place it never goes away.  Not only does it not go away, it balloons to a cost many times larger that the figures used to sell the idea.  If you go to the most prestigious neighborhood in your community, the government shovels thousands, perhaps millions of dollars to our most wealthy every month in the form of Social Security that is their be ever investment, all on the backs of the younger generation.  Another entitlement that will balloon over the years will only add to the problem with not a bit of solution.

 So as the candidates discuss tax cuts, paying down the debt or spending it on new entitlements here is a scorecard.  Tax cuts will benefit the economy but have the advantage of being fairly easy to change.  Paying down the debt will never be mandated, will only happen if the politicians can show leadership and backbone.  I ask, what is the likelihood of that?  

Spending it by adding a new entitlement will only aggravate a bankrupt health care system and be a huge burden on the younger generation.  They will suffer from a health care system that no longer works and will suffer from an economy that will not allow them to realize the American dream.

 In reality the younger generation’s “Hitler” will be a killer taxes and a healthcare system that will be almost will be a train wreck.

 So go slow to accept tax cuts, even slower on new entitlements that aren’t paid for and realize that there is no mechanism for mandating paying down the dept. 

 The election is really about how we want to use that money.  Will we vote for our selfish self-interest or what is good and right for the country.