Politicians and economists are in cahoots. They use unrealistic and unverifiable theories to attain their goals. They are politically aligned, power hungry individuals, who use their collective influence to manipulate our government into doing their bidding. They have created a huge government debt that threatens to topple our government. A few weeks ago, Pimco, the world’s biggest bond fund, said it is eliminating its holdings of government debt. Standard & Poor is threatening to downgrade the credit rating of the United States! The International Monetary Fund has said that a creditable strategy to stabilize the U.S. national debt is “urgently needed!” Our greatest asset, the fact that the U.S. is considered the world’s safest investment, is about to evaporate. President Obama does not seem to recognize the seriousness of our situation. He says his plan will reduce the deficit by 4 trillion dollars over the next 10 years. In other words, the fiscal insanity will continue for another 10 years. The term “deficit reduction” is disturbing. What we need is “debt reduction” which cannot happen with mere deficit reduction. For debt reduction, there cannot be any deficit. Mr. Obama’s plan is to continue spending more than we have which in 10 years will add another $10 trillion to our national debt!
Politicians continue to try and hide the debt crisis created by government economists. It is said that Christopher Columbus was the first economist. When he left to discover America, he didn’t know where he was going. When he got there he didn’t know where he was. And it was all done on a government grant. The government’s plan is to fight the sour economy by borrowing and spending more money and worry about the debt problem later. This is an insane economic theory that will fail and result in an inflationary disaster. Every day the U.S. government needs to borrow $15 billion to fund the deficit. Someone has to buy all that and more important, the U. S. has to repay it. Servicing this staggering debt will require large increases in taxes. The government will have less money to spend and so will all of the citizens. Please urge your congressman to wake up and balance the budget, create a surplus, and start paying down our national debt. This is a wake-up call that needs immediate action! We need help from the “Invisible Hand”.
The Debil, they say, is in the details. For one thing, balancing a budget in the midst of high unemployment will ensure that it stays high. Of course, getting Congress to stimulate something other than themselves and their cronies is a vexing issue in this regard.
ReplyDeleteSo, if we decide to hell with the economy, let's balance the budget anyway. What then? Well, Ryan says we can do it merely by screwing everyone in the middle class, seniors, and the poor, while helping the rich get richer.
The Tsar says: We ain't gonna decrease the deficit without raising taxes across the board. Get out your wallet.
Be careful what you wish for.
TsarPat
We cannot continue deficit spending forever. Stopping now will be painful but not as painful as it will be in the future. There is no choice about whether to balance or not balance the budget. We must live within our means. Borrowing against the future has not helped alleviate unemployment. If you balance the budget, then the necessary tax increase will be minimal. If you continue to run up the debt, then the new taxes necessary to service the debt will be staggering!!
ReplyDeleteI'm just saying that if you get what the Congressional Republicans have in store for you, kiss your social security and medicare goodbye.
ReplyDeleteThere's a better way, but no one has yet had the testicular acumen to broach it.
The solution is to gradually cut back on spending while raising the amount of money coming in.
There is a lot of waste in government; we can start there . . . although one man's waste is another man's indispensable support. Thus, we'll all share pain all right, but I'd like to share it fairly, and so far that isn't happening nor is it being proposed.
TsarPat
You have your way. I have my way. Both are better than the government's way. We should combine our ways and start a Russian Style Revolution! Ha,Ha.
ReplyDelete