December 24, 2011One day at the Cantina while ordering take home, I reached across to the bar with my arm between two tourists.
The man with his wife were bored with eachother, looking around the occasionally telling one another what they had seen; both looking across each other in different directions. It was cute.
We ended talking politics, as I had asked him why he was dissatisfied with the economic policies. He was bright, frank, and stated his case with concise contradiction to my views. That's what made me want to listen to him.
He began with, "I know I'm not using this word correctly, but I'm upset over legislature's 'arbitrage' over spending."
This was interesting, because I had been involved on the fringes of an illegal arbitrage dealing with Panama Bonds and Canadian Telephone Company development.
After some years, my conversation with Linda Wood, the Merriam-Webster dictionary senior editor of their legal vocabulary department; I offered this query about adding another definition to the word, arbitrage.
What was interesting, was that she had been considering that. Their committee found 'log jamming' in an old political lexigon, as an antithetic to arbitration busting, as an idiomatic expression in the early 1800's.
Thinking of this frustrated conservative, Republican with some sympathy, it seemed he was right and there may well be another alternative definition (adj. pol.) to the word arbitrage. As an arbitrary, triage or grouping of differentiation between appropriation and allocation.
For, you see, taxes bring in an appropriation or ratio to justify spending that may even mandate the printing of more money; and spending by the government is the allocation of the justified money.
And, by the way, how else do we get more money into circulation? By an Act of Congress.
If the allocation does not reach the pate of appropriation by authorizing services, which re-contribute the appropriation in taxes; then we create a deficit.
That's where we are today!
So, good journalism doesn't answer questions.
See my home page.