Saturday, October 31, 2015

Time For Radical New Thinking To Deal With US Debt

President Pinocchio Obama will leave a $20 Trillion National Debt behind when he thankfully leaves office, even after raising taxes.   Obama will have added more to the National Debt in his 8 years in office than all other 43 Presidents before him combined.  This is the same guy who voted against increasing the Debt Ceiling when he was a Senator saying it was immoral.  But this is the just the tip of the ugly iceberg.  There is another $150 Trillion of unfunded local, state and federal liabilities sitting out there waiting to explode on the American people as the Baby Boom generation retires.  The total assets in the whole country are only $120 Trillion.  So if everything everybody owns was confiscated, which Socialists would love to do, it would be impossible to cover all this Debt.   Yet, politicians at all levels of government in both political parties go on business as usual. 

Socialists in government live in a dream world, actually pushing for even more Entitlements to buy votes.  Socialists are in complete denial related to the fiscal realities that we face somehow believing that just raising taxes on the "rich" will solve our fiscal problems.   Conservative Republicans are offering plans that are good; but just tinkering around the edges.   To deal with all this Debt before we see the economic collapse of the United States, we have to rethink government at all levels to get our fiscal house in order.   This is not just about the Federal government.  Same Old, Same Old will not work.  We can't afford bureaucratic redundancy any more.  So, as one example, there is a Federal Department of Education, that is completely unnecessary, state departments of education, county departments of education and then local school districts all creating paper work for each other.   As such, money that should be going into the classroom is trapped in this bureaucratic mess.   We literally could look at all functions of government and see the same thing happening; layer on top of layer on top of layer. 

Welfare has caused more government dependency not less.   We have to rethink all Entitlements including Social Security and Medicare as people are commonly living into their nineties.  People can retire when ever they want, but benefits should not begin so early in life.  Further, there should be even more tax incentives for people to save money, while working, to provide for retirement.  There are many things that need to change from the approaches that have evolved over the last 100 years of Socialist Creep that are bankrupting our country.

The next President of the United States who ever he or she is should convene a National Convention of local, state and federal elected officials, from all political parties, with sessions facilitated by prominent business leaders and perhaps others in academia with the sole purpose of looking at government as a whole, including reviewing all Entitlements.   This is not to be confused with a Constitutional Convention; nor should this have anything to do with traditional Socialist or Republican politics.  However, everyone must acknowledge the numbers without pointing fingers.  They are what they are.  To be sure, the goal must be smaller government at all levels because we cannot afford business as usual; but that does not mean throwing granny over a cliff.  

If we can get passed all the normal political polarizing rhetoric, just maybe we can prevent the economic collapse of the United States.   If we continue on business as usual, all is lost.  We will see the economic collapse of the United States, civil strife on our streets and the potential dissolution of the United States.  Don't think it can't happen because it has happened in World History. 

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