What is really needed to put the country on sound financial footing is $11 to $12 TRILLION in cuts over 10 years not the $1 to $4 trillion being discussed now.
You can fix social security today by indexing the retirement age to the increase in life expectancy. That is it, fixed probably for ever.
2 other questions then need to be answered.
1. How much do we spend on health care?
2. How much do we tax the American people?
Answer those two so they add up in the end and all the other questions just kind of go away.
I am not for raising taxes, and $4 trillion in cuts over 10 years is not really an actual cut, just a reduction in the budget baseline. Remember the baseline goes up every year and if you cut the increase, not actually reduce the spending from the previous year DC calls that a “cut”.
Just go back to 2007 actual spending levels and the problem is fixed. That would be an actual reduction is spending and individuals would see decreases in their individual benefit checks, but problem is solved.
Economy going into a double dip recession, interest rates low for at least 2 more years. Obama crew gives very few small business people any confidence. Washington ruling class not willing to give power and control up. Mainstream media is in bed with them also.
Way out?, yes just cut the budget and direct the money you do spend away from Washington, D.C. “empires”. World is changing and has changed how it operates, but DC still stuck in the “big government” mentality. We never even mention what all of us would have to do if we were in this much financial trouble, which is to sell some assets to reduce debt.
Only thing both political left and right agree on is to cut agricultural spending. Somewhere between $10 and $48 billion. (Note- after I recorded this I was told actual number is $33 billion in cuts to ag spending over 10 years).
Is Washington ruling class hoping the Tea Party drives over a cliff? I think the “ruling class” sees the tea party as a true enemy. Tea Party just does not want to slow down the growth of government, but totally eliminate huge chunks of it. Will these new political players put the years in to this “game” that will be needed to not just change it but conquer it??????? Many want to just get “this” fixed and then get back on with their lives. Ruling class will just try and outlast these “new upstarts”.
This debate holds huge consequences for you and your businesses and jobs. How it is settled, not just this one small debate, but the larger debate on really how much government does America want. How much do you want? Are you willing then to pay the taxes required for that much?
Who will outlast the other is going to decide this debate in my opinion.