Making Sense of the Deficit
June 10th, 2009 at 8:15 am by CrankyWow, an article from the New York Times that I wholeheartedly agree with. Read past the subtle apologist rhetoric for Obama.
Alan Auerbach, an economist at the University of California, Berkeley, and an author of a widely cited study on the dangers of the current deficits, describes the situation like so: “Bush behaved incredibly irresponsibly for eight years. On the one hand, it might seem unfair for people to blame Obama for not fixing it. On the other hand, he’s not fixing it.”
“And,” he added, “not fixing it is, in a sense, making it worse.”
I fear that the majority of our politicians are not interested in the well being of our country so much as spending their way to their next re-election. Here is what must be done:
The solution, though, is no mystery. It will involve some combination of tax increases and spending cuts. And it won’t be limited to pay-as-you-go rules, tax increases on somebody else, or a crackdown on waste, fraud and abuse. Your taxes will probably go up, and some government programs you favor will become less generous.
Let’s hope that the Murthas, Pelosis and Youngs (R-AK) don’t rule the day in this debate.