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Sunday, August 7, 2011

A Little Dab of Debt Reduction Won’t Do

Opinion:


It’s too late for half measures to avoid a double dip, or a downgrade, or an economic fiasco. A little dab of economic cosmetic puffery won’t help. We are in too deep for a temporary fix. We need a giant dose of reality. We need real spending cuts in the form of a cap on spending. We need to expand our revenue base.


This doesn’t have to be a radical program. We can reduce expenditures by one percent a year and do just fine. We can adjust major entitlement programs without harming current beneficiaries and preserve the basic programs for future generations. We can add a small tax on some of the fifty-one percent of our population who pay no income tax—maybe one percent—so they feel like they are part of the solution and not the problem. Could add an additional one percent tax for everyone else too.


We can reconstruct our taxing system so that it’s more fair and everyone contributes something, but no one is penalized for being successful.


There is a lot we can do, but we need the political will to do so and that has been sadly lacking.


It’s time to stop with the excuses. We can’t blame Japanese earthquakes, prior administrations, greedy rich people, tax breaks on oil companies and airplanes, a bad economic situation, or anything else.


The only thing we can blame is the current administration and congress being unable to live within their means.


We have a choice now. Either shape up as a Country or lose our first class standing in the world. Its time for heroes and statesmen and action.


This great Country of ours has done it before and we can do it again.


This is no joke.


This is not fiction.


This is as real as it gets.


Let’s not leave our grandchildren a third rate and third world nation to live in.


Our future is upon us.


We can do better than this.

Hi, this is Arthur Levine the author of the novel Johnny Oops. To find out how Johnny deals with economic problems please join us at http://johnnyoops.blogspot.com.

1 comment:

  1. I hope people listen to your wisdom, Arthur...

    ReplyDelete