Sunday, June 5, 2011

National Debt ripping country apart

Now it's Greece. If the United States doesn't get control of its finances, it could soon be us. Imagine ongoing economic depression, much higher taxes, steep Social Security reductions, steep Medicare reductions, significantly reduced government services, severe defense cuts, etc.

We need to address our $14 Trillion Debt (and climbing rapidly) before we become Greece. It's not enough to nibble around the edges. It means serious defense cuts, serious Medicare reforms, serious Medicaid reforms, serious Social Security reforms, closing tax loopholes, and scaling back tax deductions, in addition to the reductions in non-security domestic spending we've already seen.

Neither party, nor the voters, seem to get it. Democrats think we can control our budget without reforming Social Security and Medicare, and without making domestic cuts. Republicans think we can do it without defense cuts and without bringing in more revenue even by just restricting tax loopholes and deductions. Many voters think we can get our budget under control without doing any of the above.

I still plan on doing the Part 3 I had promised weeks ago of my budget series. Soon enough. I planned to do it sooner but then life and stuff got in the way.

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