"Why can't we stop Congress from borrowing more and more money?"
Why does the Federal debt exist? Because the congress is unwilling to tax to
cover expenditures. Why is that the case? Because the wealthy and corporations
have insisted on long run tax cuts for themselves beginning the 1980's. To
be sure, expenditures could have been cut to match but we could not agree on
what to cut. Actually, the wealthy and corporations quite like the current debt
setup because they loan funds to the Federal government for which they are
repaid with interest. This is an arrangement made in heaven for the rich, i.e.
top 1%.We should appreciate that government debt is not like
household debt, that is nobody is going to show up on Ellis Island and throw us
out of the country. Moreover, most of the debt is owed domestically. But in a
very real sense we are slaves to these wealthy interests to which we must make
interest payments in every increasing amounts. The solution? Restore upper
bracket personal rates and corporate rates to 1950's levels.
We cannot stop Congress from borrowing and spending more money because we are no
longer a moral people. We have no problem with stealing from our children. We
cannot take out a credit card in our children's name - that is identify
theft. Therefore, we let the government do it for us. To balance the budget we
would either have to have the rich pay more taxes and the 48 percent who pay no
federal income tax actually start contributing or - the horrors - cut federal
spending. Since neither is realistic, we will just keep stealing from our
children. The recent budget deal shows that both the Republicans and Democrats
agree. Why sacrifice our children to BAAL? We need to keep them alive so we
can keep mortgaging their futures so we can get benefits from the government.
One word: Entitlements! Can't pay for them because the government ran out
of other people's money to spend which is why they are borrowing from our
grandchildren with a $17 trillion national debt which will likely be over $20
trillion by the time we choose another President. Every time any conservative
suggests the government lives within it means, liberals have a 10 alarm hissy
fit and Americans vote for politicians who promise more entitlements. Who
cares about our grandchildren as long as I get MY entitlements! Greed anyone?
"It is unprecedented looting, plundering and money laundering."Sounds like the 8 years our country suffered under Bush/Cheney/Halliburton.
Freedom Spreadin', cost-plus bids for Dick's friends at Halliburton,
and Corporate Welfare for many, many of their buddies almost drove our nation to
the brink!They also ruined our Nation's status world-wide.
With the election and re-election of President Obama we're on our way back!
Whew! I'm so happy we have--as a nation-- realized that "Republican
leadership" is an oxymoron. Maybe Utahns will figure it out and we can have
some real leadership on pressing issues here...like that brown air.
It sounds like right-wing talk radio has this letter writer all hyped-up. Since
the answers to the his first two questions are "no", further discussion
"To begin a new discussion, take action and demand Congress..."How about we begin a new discussion without the hyperbole demonstrated in the
first two paragraphs.
We hear how the debt has skyrocketed under Obama. But, lets look at the
realities. These are not opinion, they are fact... easily verifiable. Compared to the Bush years, yes, the deficit has accelerated. Why? Primarily
2 things1) revenue (i e tax receipts are down2) MANDATORY (not under
the control of the president) are escalatingThis is where the
increase debt is coming from. And it would have been exactly the same under
Romney or McCain.It is primarily driven by people getting older.
People becoming medicare eligible. I talked to a far right friend of
mine. I told him that the primary driver of the debt going forward was SS and
Medicare and medicaid. He let me know that he paid for those things and
deserved to receive what was promised him. What he doesn't realize is that
everyone is in the same boat. A 50 year old today will expect the same thing.
As will a 40 year old.However, he was certainly unable to comprehend
that what he received was the growing problem.And, it was all Obamas
fault, regardless of the facts.
If we would control and limit our government cost, we need to start at the
lowest level of government first. Theoretically that’s where we would
have to most power to make changes. All of government spending is
tied to commercial business profits. To the extent that we allow business
interests to control our government we lose the ability to control our
government debt. Our greatest huddle is the loss of voting power
imposed upon us by politicians loyal to business interests. Voting needs to be
simple and easy to do. It needs to be dependable and not subject to
manipulation. It needs to be done at the convenience of the voter in a place
convenient to the voter, home. Only if we remove the control of
business will we be able to control who and for what our money is spent.
Our monetary system is debt based and the debt is designed to get bigger and
bigger. The only way we can change it is to change our monetary system.
Military spending is what is out of control. "Entitlements" aren't
the problem.The F-35, that doesn't work, is going to cost at least
one trillion dollars. Why does the right wing think it's just fine to spend
money on new ways to kill people on the other side of the world while taking
care of US citizens is somehow the wrong choice?
"Why can't we stop Congress from borrowing more and more money?"US House Republicans tried to stop Congress... but, alas, they got
slapped down by Democrats Barack Hussein Obama, Harry Reid, and Nancy Pelosi."To begin a new discussion, take action and demand Congress propose
a bill that if they continue to increase our national debt, they will no longer
receive taxpayer-supported armed protection nor will they be immune from civil
prosecution."Too funny! You're forgetting that Congress
makes the rules.@marxist:"Why does the Federal debt exist?
Because the congress is unwilling to tax to cover expenditures."Not so. The debt exists because the federal government refuses to stay within
a budget."The solution? Restore upper bracket personal rates and
corporate rates to 1950's levels."Do that and the economy
will go into an immediate and fatal tailspin. Barack Hussein Obama knows this.
That's why he'd rather the government borrow and pass the debt on to
our children and let them worry about how to pay for it. Clever guy this Barack
@embarrassed Utahn!:"Sounds like the 8 years our country suffered
under Bush/Cheney/Halliburton."Friend, the national debt under
Obama exceeded the Bush debt increase. In fact, Obama's debt increase
exceeded all the debt of all the presidents put together."They
also ruined our Nation's status world-wide. With the election and
re-election of President Obama we're on our way back!"Where
you gettin' this stuff? Obamacare will sink this nation. Get ready.@Shaun:"The only way we can change it is to change our
monetary system."Change it to what... bitcoins?
JoeBlow,When Clinton left office the federal budget was $2 Trillion
in inflation adjusted dollars. It is now well over $3 Trillion. Bush and Obama
have spent us into oblivion. Yes entitlement spending has skyrocketed. Why?
Bush decided to hand out prescription coverage and passed one of the largest
entitlement increases in history. Obama has dramatically increased the number
of people on food stamps and has opened the flood gates on Medicaid. In many
states the number of people signing up for Medicaid has exceeded the number
signing up for health care policies under Obamacare.The greying of
America is only going to make matters worse. We simply cannot afford to give
handouts to everyone. The only hope is to start trimming entitlement spending -
but no politician wants to do that because they will look mean and lose
votes.In the mean time, the future of our children gets dimmer and
"How about we begin a new discussion without the hyperbole demonstrated in
the first two paragraphs." Hyperbole? "Bush and Obama have
spent us into oblivion". Hey folks we've been obliterated. How about
that we're gone, not here. Wow how'd I miss that. "The debt exists because the federal government refuses to stay within a
budget". So it doesn't matter how much the budget/proposed
spending is, as long as we don't exceed that amount we won't add to
the debt? "Obamacare will sink this nation." Obamacare has
what to do with the "out of control debt"? "The greying
of America is only going to make matters worse. We simply cannot afford to give
handouts to everyone. " SS and Medicare are handouts? Recipients
weren't taxed for these in their working years? There's
plenty of demographic and fiscal facts to drive discussions about government
spending but the facts also include realities of the debt Marxist points out and
the real financial condition and needs of our society.