Opinion : Reader Discusses US Debt

Editor:

When the Democrats had the numbers why didn’t they pass a budget presented by the President?(Oops, I don’t recall he presented one!?) The next question is: if the present tax rates (“Bush Tax Cuts) are so bad why continue them?? Do the present tax rates contribute to the deficit or do present spending levels contribute to the deficit?

While mulling the above over consider the following: We have some leaders who say we can’t afford to cut spending, while we have others who say we can’t afford current spending levels. Both sides cannot be right. Someone is definitely wrong or just lying for position, power, and/or votes. I have written before that the U S Gov. is borrowing $.40 for each $1.00 spent (it is now $.41 and rising). That in itself is alarming even if The Gov. has a plan to pay off the debt. Monetizing the debt or inflating the dollar is the easy way, but the wrong way -- for this places the burden on our grandchildren.

Source: www.usdebtclock.org/ . Total U S Fed Debt is $14,863 per citizen (including youngsters, oldsters, unemployed, and employed or $128,408 per taxpayer. If The US Gov. confiscated all profits from the Fortune 500, and all monies of those earning over $250,000 ---all this would not pay the debt and then the kicker ---- it would start all over the next year. Even more alarming are unfunded liabilities of the Fed Gov. equaling $1.2 million per taxpayer (this is social security, prescription drug, and medicare liability). Man – look this up yourself – I look at these big numbers and I get blurry vision.

The above does not include the liability that will happen due to Obama Care -- or The Affordable Health Care Act, if you prefer. What ever, --- we as a Nation are in serious financial trouble. We can not continue to provide funding to NPR, Nat Public TV, Planned Parenthood, AARP, or countless others orgs who can just as easily get their funds from private sources! Progressives – open your check book – stay away from mine. Social Security, Medicare, Wind Power, Solar Power and the Farm Program will have to be changed, along with every other Federal Program (including deductibility of mortgage interest). Fifty percent of our people do not pay federal taxes-that must change. People – this situation is our fault. The majority of us have our hand out for Federal Funds one way or another. The political class has only done what you wanted --- in return you give that pol. your vote.

No one can escape biting the bullet – all will have to make life style changes. It is not right to kick the can down the road to our grandchildren. Man up! Step up! First - -- stop the spending! --- then reform the tax code. We already have the fear mongers starting their braying, including Rep Debie Wasserman-Schultz (D of Florida) and George Stephanopoulos (ABC). It starts all over – “old people will die, youngsters will starve, truckers won’t have NPR to listen to. Geez! None of this fear is true. How is it possible to continue this outrageous spending? Time is of the essence, make your voices heard! Stay tuned. Other issues are equally important (energy, Middle East, etc).

Regards,

John Stiegelmeyer