As Obama, the Democrats, and Republicans in Washington dither, engage in class warfare and political warfare, none of the proposals seems to offer a real solution to the deficit and mounting debt.
Obama is currently running a $1.5 trillion deficit PER YEAR – over a trillion dollars worse than the worst deficit under Bush.
Obama’s debt is, simply, out of control.
And yes, it is appropriate to call it Obama’s debt. Out of control spending and a stimulus seemingly almost entirely wasted on pork instead of making an effort to create jobs and induce businesses to create jobs.
The debt proposals talk about reducing the deficit by a trillion dollars over TEN YEARS.
Please. They are still just kicking the can down the road. Like everything else from Washington, in a decade the savings will not be seen. It’s always phony and fraudulent.
I’m getting old, as I’ve seen this over and over and over. It’s ALWAYS a solution that happens to be right after the next election or after someone else will be President.
Is a balanced budget amendment a solution?
Yes, but I’m not in favor of it because you never know what emergencies and crisis will occur in the future – which may require an unbalanced budget. I am thinking of WWII. Not that it will be repeated, hopefully, but the point is you never know what will happen in the future and what you’re straight jacketed into.
On the other hand, maybe it is necessary to force irresponsible “leaders” in Washington from continuing to promise things to get elected – without paying for them.