Re: The Real Problem With The Economy Is Deficit Spending

On Jun 25th, 2012 I published the following on my website: “While everyone is concerned about the economy, discussions recently have not addressed the real problem.  On the left, they want to talk about taxing the rich.  While on the right they want to talk about reducing taxes.  No one wants to talk about the real problem, the continued deficit spending, and growing national debt.  Before the end of the year, Congress will likely have to address the debt ceiling again.  The last time it was addressed consensus on a reduction of spending could not be reached.  In the end, it was agreed a super committee would be created to address the problem.  I have not seen any results come out of the super committee.  There were, also, to be automatic spending cuts if the super committee and Congress could not implement a solution before 2013.  There isn’t much time for them to act.  Here is the CBO’s forward-looking view of where the economy is headed both with and without action.  http://www.cbo.gov/publication/41486 “ On this day in 2012, the National Debt was 14.9 trillion dollars.  Today it is 22 trillion dollars.  It is clear Congress has failed in its duty to bring deficit spending under control.  I blame both parties and both the Senate and Congress for this inability.  While they choose to argue over many things, from what is the President guilty or not guilty of, to border wall and immigration, to New Green Deal and global climate change, the country is squandering away billions of dollars.  Nothing has changed, literally, nothing has changed.  The same politicians are in Washington that were there in 2012, with the exception of a very few.  To my mind therein lies the problem.  I believe it was Einstein who said, “the definition of insanity is repeating the same actions over and over again while expecting a different outcome,” or something to that effect.  Well, it is clear to me all politicians in Washington are insane. They have clearly lost sight of the real reasons they are in Washington.  To represent the people and look out for the interest of the people.  Not just those who can vote for them tomorrow or in the next election but future citizens of the United States, our children, and grandchildren.  How can we expect they will be able to live the same quality of life we have lived and have access to the same opportunities?  We, not just the politicians, are burdening future generations with a debt it will be extremely difficult to overcome or get out of.  And yet there are those in Washington who continue to put forward policies with projected costs in the trillions of dollars.  Do these people believe they have access to a money machine?  Do they not know that the government does not produce income?  The only source of revenue the government has is through taxation. They can talk about taxing the rich but I am not aware the world has produced trillionaires and taxing the few billionaires out there will not bring in the 22 trillion dollars needed to pay off the current debt.  Especially with the current spending levels of 4.3 trillion dollars a year and a yearly deficit of 850 billion dollars.  (www.usdebtclock.org) Since there does not seem to be anyone interested in discussing this issue in Washington, or tackling the problem because it reflects more on them than anyone else.  I suggest the solution is to vote them all out of office and replace them with people who are interested.  And if we send someone to Washington who does not take on the problem we vote them out of office the next go round.  I, also, propose term limits be imposed for both Houses of Congress.  It is evident the longer they remain in Washington the more they become poisoned with the same poison that has affected their predecessors. So I urge you, in the next election Get Out To Vote.