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Washington, D.C. spends like crazy and nobody cares
This country has a debt crisis. Yawn. Who the hell cares? Certainly not our Congress. It keeps juicing up what it spends — beyond the income that comes into the Washington, D.C. coffers. Our Congressional reps remind me of a couple who came to me years ago for financial counseling. They had gone bankrupt twice. And […]
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This country has a debt crisis. Yawn. Who the hell cares? Certainly not our Congress. It keeps juicing up what it spends — beyond the income that comes into the Washington, D.C. coffers.
Our Congressional reps remind me of a couple who came to me years ago for financial counseling. They had gone bankrupt twice. And were about to go down a third time.
They were spendthrifts who suffered many problems and shortcomings. A biggie was their psychological state. They enjoyed excellent income. And their income had risen every year. Money was not a problem. Their attitude toward it was the problem. When their income rose by 5 percent, they increased what they spent — by 7 or 8 percent. They could not resist spending more than they earned.
Congress suffers the same malady. More and more money arrives in Washington, and Congress spends all of the increase, and then some. It is the “and then some” that plunges us deeper in debt. When they spend more than they take in, they have to borrow more money to cover the difference. They sell more IOUs — otherwise known as Treasury bonds. Pile those bonds up to the sky. That is known as our national debt.
The last few years have seen revenues grow. Extra money has streamed into Washington, D.C. with economic growth boosted by the Trump tax cuts. Congress has spent it all, and then some.
We saw the same after the George W. Bush tax cuts increased revenue. We saw it after the Reagan tax cuts increased revenue. Congress found more ways to increase spending beyond the increased revenue.
We did see some discipline when Clinton reigned. When the Soviet empire collapsed, we could finally slash defense spending. Clinton was dealt a perfect hand: big increases in tax revenue from an expanding economy and less need to spend all those billions on defense.
Since then we have run deficits. Yawn.
President Trump says he will tackle this in his fifth year. Right. Thus far, he has shown no backbone on spending and the deficit. Congress has passed bloated spending bills. In response, Trump has whined. But he has not stood up to the spendthrifts.
Politicians don’t care about the overspending. Because they will be long-gone when the manure hits the proverbial fan. And they don’t lose sleep over the country’s problems. As long as their district or state or favorite project wins more money, they are happy.
And what if this stupidity leads to a massive financial crisis down the road? Yawn. They know that politicians down the road can always raise taxes on the people down the road. Or they can engineer some inflation — inflated dollars to pay off non-inflated Treasuries?
The politicians could solve this problem. They will not. My bankrupt friends could have avoided a third bankruptcy. They did not.
Congress could cut spending across the board tomorrow. They could declare that every government program would be cut by, say, 6 percent. Every program, no exceptions.
Further, they could slap a cap on future spending. They could declare that the national budget cannot go up more than inflation plus 2 percent for the next 10 years. At the end of a decade, we would have a severely reduced national debt.
Sure, a lot of folks and programs that get government checks would complain. Bureaucrats would whine that their budgets were shrinking. Foreign countries would moan that their aid from us was dwindling. State and local governments would proclaim the sky is falling because the squirts from government had declined.
But we would survive. One reason is that there is hardly a budget anywhere that cannot withstand a 6 percent cut.
Would Congress ever consider such a diet? Nah. No more than most of us will stick with our 2020 resolution to lose our bulges.
From Tom…as in Morgan.
Tom Morgan writes about political, financial, and other subjects from his home in upstate New York. You can write to Tom at tomasinmorgan@yahoo.com, read more of his writing at tomasinmorgan.com, or find him on Facebook.

Bowers & Company CPAs, PLLC has named MATTHEW R. MEAGHER a partner in the firm. He is a tax specialist with the Watertown branch of Bowers. Meagher received his bachelor’s degree in accounting from Clarkson University and obtained his CPA license in 2009. He has worked in public accounting for 14 years and brings a
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Bowers & Company CPAs, PLLC has named MATTHEW R. MEAGHER a partner in the firm. He is a tax specialist with the Watertown branch of Bowers. Meagher received his bachelor’s degree in accounting from Clarkson University and obtained his CPA license in 2009. He has worked in public accounting for 14 years and brings a broad range of industry experience in medical, manufacturing, retail, construction, and service-based industry. Meagher focuses on business management consulting and individual tax planning.

KATE SWIFT has joined Digital Hyve’s account services team. A Syracuse University graduate, she is the digital-marketing firm’s newest account coordinator.
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KATE SWIFT has joined Digital Hyve’s account services team. A Syracuse University graduate, she is the digital-marketing firm’s newest account coordinator.

NBT Bank recently promoted four employees based in the Mohawk Valley. Retail Territory Manager TRICIA BUSHEE, Senior Business Banking Officer ALICIA JOHNSON, and Channel and Customer Engagement Manager GINA ROSSI were promoted to VP. Fair Lending Compliance Officer HASAN BAJREKTAREVIC was promoted to assistant VP. Bushee joined NBT in 2017 and has more than 13
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NBT Bank recently promoted four employees based in the Mohawk Valley. Retail Territory Manager TRICIA BUSHEE, Senior Business Banking Officer ALICIA JOHNSON, and Channel and Customer Engagement Manager GINA ROSSI were promoted to VP. Fair Lending Compliance Officer HASAN BAJREKTAREVIC was promoted to assistant VP.
Bushee joined NBT in 2017 and has more than 13 years of experience in the financial services industry. The Mohawk Valley territory she manages includes branches in Oneida, Herkimer, and Madison counties. Bushee studied business at Morrisville State College and is a 2015 graduate of the Leadership Mohawk Valley civic-leadership training program.
Johnson joined NBT in 2006 and has more than 35 years of experience in the financial services industry. She earned her bachelor’s degree in business administration-business and public management from SUNY Polytechnic Institute. Johnson holds many certificates from the Risk Management Association and the American Institute of Banking.
Rossi has more than 25 years of experience in marketing and advertising and joined NBT in 2017. She previously owned her own advertising agency and was a marketing officer in the financial services industry. Rossi earned her bachelor’s degree from Brigham Young University and is a graduate of the American Bankers Association School of Bank Marketing and Management.
Bajrektarevic has more than 13 years of experience in financial compliance and joined NBT in 2006. In his current role, he has been instrumental in developing the bank’s fair lending, self-assessment, and risk assessment protocols. Bajrektarevic earned his bachelor’s degree in criminal justice-economic crime investigation from Utica College. He is also a 2010 graduate of the Pennsylvania Bankers Association’s Compliance School.
NBT Bank recently hired MICHAEL MURPHY as senior commercial banking relationship manager. He is based at NBT’s offices in the AXA Towers in Syracuse. Murphy has more than 20 years of experience in commercial banking and real estate in the Syracuse and Central New York market. Prior to joining NBT, he was a commercial banking relationship manager for KeyBank. Murphy earned his bachelor’s degree in business administration from the University of Vermont. He is also a graduate of the Leadership Greater Syracuse program. NBT Bank announced that
JENNIFER PRIETO will lead its office in Newark Valley. She has more than 15 years of experience in the financial services industry and previously worked at NBT Bank of Newark Valley as a customer-service representative. Prior to rejoining the bank, Prieto worked as an office specialist with Newark Valley School District. She earned her associate degree in paralegal studies from Tompkins Cortland Community College.

Herkimer County Community College has hired MATTHEW JODWAY as a campus safety officer. He is a recent Herkimer College graduate, having earned an associate degree in liberal arts & sciences in May 2019. Jodway has worked for the City of Little Falls as both a general municipal worker and as a municipal sanitation worker.
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Herkimer County Community College has hired MATTHEW JODWAY as a campus safety officer. He is a recent Herkimer College graduate, having earned an associate degree in liberal arts & sciences in May 2019. Jodway has worked for the City of Little Falls as both a general municipal worker and as a municipal sanitation worker.

Bankers Healthcare Group has added eight new employees to its Syracuse staff. KACI ASPER joins as a placements document specialist. She previously worked at Medical Management Resources as a reimbursement specialist, where she focused on medical billing for downstate New York customers. TAYLOR MICHAEL joins as an account executive. Most recently, he worked in business
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Bankers Healthcare Group has added eight new employees to its Syracuse staff. KACI ASPER joins as a placements document specialist. She previously worked at Medical Management Resources as a reimbursement specialist, where she focused on medical billing for downstate New York customers. TAYLOR MICHAEL joins as an account executive. Most recently, he worked in business development at Terakeet, focusing on inbound sales and proposal development. TIM DECANDIA joins BHG as an account executive. He previously worked at Strategic Financial Solutions as a financial sales consultant and also took on the role of inside sales for debt settlement. AMANDA LYONS joins as a financial information systems manager. She has spent the last 10 years working for a commercial refrigeration company, where she started in A/P and A/R and worked her way up to VP of finance and operations. ZACH HARPER joins as a staff accountant. For the past year, he worked at Sinopoli & Sinopoli, an accounting firm in East Syracuse. JUSTIN TIERNEY joins as a senior talent acquisition partner. Since 2017, he worked at Aspen Dental in the talent acquisition department, hiring oral surgeons and endodontists. MATTHEW BROWN joins as a partnership marketing manager. He previously worked with Cintas for three years as a facility service sales representative and most recently with Berkshire Bank. ALEXA CAPOZZI joins as a graphic designer. She previously worked at The Martin Group located in Buffalo, where she created marketing material in various verticals such as professional sports, hospitality, health care, and finance.

AMBER MEZA has been named human resource information systems (HRIS) specialist at Mohawk Valley Health System. Most recently, she was an IT business analyst at PAR Technology Corporation in New Hartford, where she provided change management support for the implementation of a new ERP system. Prior to that, Meza worked in human resources at the
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AMBER MEZA has been named human resource information systems (HRIS) specialist at Mohawk Valley Health System. Most recently, she was an IT business analyst at PAR Technology Corporation in New Hartford, where she provided change management support for the implementation of a new ERP system. Prior to that, Meza worked in human resources at the Rescue Mission of Utica as an HR generalist. She received her bachelor’s degree in business management from Fairleigh Dickinson University in New Jersey.

DAMON A. TOHTZ, M.D., a psychiatrist, has joined Oswego Health in its Behavioral Health Services Department. He has extensive experience working with adult and geriatric patients in both outpatient and inpatient settings including spending 10 years at the Syracuse VA and most recently he was a staff psychiatrist at Helio Health System. Tohtz completed his
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DAMON A. TOHTZ, M.D., a psychiatrist, has joined Oswego Health in its Behavioral Health Services Department. He has extensive experience working with adult and geriatric patients in both outpatient and inpatient settings including spending 10 years at the Syracuse VA and most recently he was a staff psychiatrist at Helio Health System. Tohtz completed his fellowship in forensic psychiatry and his residency in psychiatry, both at Tulane University in New Orleans, Louisiana. He earned his medical degree from the University of Vermont College of Medicine.

Smith Sovik Kendrick & Sugnet, PC has elected VICTOR L. PRIAL a partner at the firm. He is a trial lawyer who concentrates his practice in personal injury and civil litigation. Prial handles all types of lawsuits including products liability, professional malpractice, contract disputes, premises liability, labor law, personal injury, construction matters, and employment law.
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Smith Sovik Kendrick & Sugnet, PC has elected VICTOR L. PRIAL a partner at the firm. He is a trial lawyer who concentrates his practice in personal injury and civil litigation. Prial handles all types of lawsuits including products liability, professional malpractice, contract disputes, premises liability, labor law, personal injury, construction matters, and employment law.

Harris Beach PLLC has elected JULIAN B. MODESTI a partner of the firm. He is a commercial litigator whose practice encompasses shareholder disputes, leases, land-use matters, finance agreements, unfair competition, trade secrets and business torts. Modesti is also the firm’s head litigator for trust and estate disputes in surrogate’s courts. He handles appeals in state
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Harris Beach PLLC has elected JULIAN B. MODESTI a partner of the firm. He is a commercial litigator whose practice encompasses shareholder disputes, leases, land-use matters, finance agreements, unfair competition, trade secrets and business torts. Modesti is also the firm’s head litigator for trust and estate disputes in surrogate’s courts. He handles appeals in state and federal courts on a wide variety of civil law issues and is frequently retained as a mediator. Modesti earned his law degree from Vermont Law School in 1994.
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