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Federal gov’t needs to stop deficit spending
Published Wednesday, November 18, 2009
Wouldn’t it be nice to have politicians who make fiscally responsible decisions while in office instead of basing their decisions on ways to get re-elected? Several years ago I was watching the CBS News program “60 Minutes.” A segment of the program was about Illinois politicians who voted for a costly government retirement program that would not affect them while in office, but would have a major influence on future budgets and create heavy costs on future generations.
It becomes exceedingly concerning that our federal deficit continues to grow, especially when we consider the future of our children and grandchildren. Estimates now show that our annual shortfall will reach in excess of $1.4 trillion. That totals more than $4,700 for every man, woman and child in the United States. The deficit is now more than three times the highest amount ever amassed in a single year.
Unless our government begins to make hard decisions to reduce spending, the economic crisis could grow even larger than we have today. If we continue to accumulate more debt, as anticipated in the coming years, we leave ourselves vulnerable to outside influences that will have major affects on the future of our nation and coming generations. Forecasts for more red ink will continue just to pay the interest on the debt. The government paid approximately $190 billion in interest over the last 12 months, it could have been much greater but we are in a period of low interest rates.
Ken Petersen
I think we would all agree that health care reform is essential so it can be affordable to everyone, the status quo is unacceptable. Where many differ is the approach to achieving that goal. The additional cost of the bill the House passed would create debt that will break America. A government-operated program would add further to our budget issues, simply to monitor the programs. Past practices with other programs have shown that the government has a poor history in financial management.
This is especially true when politicians look short term to secure votes and resist making good long-term decisions that are the best for the country. Many seem not to care since they will be out of office before we feel the ramifications of their decisions. It is important that our politicians take a fiscally realistic look on the true costs to Americans because estimates show the actual cost of the bill to increase the cost of care by over $1 trillion.
Looking long term, we must also remember that Social Security problems are slowly approaching as millions of baby boomers approach retirement. The program’s annual cash surplus will shrink and then disappear because there will not be enough funds to pay full benefits from its payroll and other tax revenues.
To continue the program, our government will need to consume ever-growing amounts of general revenue dollars to meet its obligations. Experts estimate that Social Security begins to spend more on paying benefits than it receives in taxes in 2018 or 2019. Eventually, either benefits will have to be slashed or the rest of the government will have to shrink to accommodate Social Security.
The time is now to stop government spending money that we don’t have and that will require our children and grandchildren to pay off. They may be faced with the choice of paying retirement benefits to their parents or paying for programs that help their own children. We can’t keep on mortgaging our children’s future. There is no better time to stop spending than now.
Ken Petersen is a co-chairman of the Freeborn County Republican Party.
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Comments
Posted by realchange (anonymous) on November 18, 2009 at 7:52 a.m. (Suggest removal)
Great letter, unfortunately politicians are so self-righteous, self-absorbed and selfish that they have gotten us into such a deep hole right now that we probably can't get out. The problem is, they are getting bigger shovels and keep digging. I can't wait for the 2010 elections. We need to get some good people in office. I wonder if there are any out there.
Posted by bornFree (anonymous) on November 18, 2009 at 9:26 a.m. (Suggest removal)
When there are people like Pelosi and Reid and the Democratic party in power what else is there to expect? When you and I step into that voting booth in 2010 and also the next presidential election that is when we better remember what is going on NOW, from what I have seen in the last eleven months there has been change but NOT good change. The Democrats have promised much to get themselves elected but delivered on little.
Posted by leftys2221 (anonymous) on November 18, 2009 at 9:49 a.m. (Suggest removal)
bornFree, didn't Bush spend a ton also? Like on two wars after giving massive tax cuts to the rich?
Posted by Warhog (anonymous) on November 18, 2009 at 10:54 a.m. (Suggest removal)
Wow a breath of fresh air
As the democrats step on the accelerator of spending and drive the nation into the abyss of debit. One can only wonder who the dummy's in charge will blame for the impending chaos.
There is talk about a double dip recession now who to blame..................................who to blame.
Posted by newyankee (anonymous) on November 18, 2009 at 11:32 a.m. (Suggest removal)
There are a substantial number of voters (legal and illegal) who vote for more entitlement programs. These programs are a major portion of State and the Federal budgets. The modern Democrat will not allow any real cut in spending, in my opinion, because that is how they get elected.
It is good to see a real conservative push at the local level. Eventually this will affect the national level I feel.
Warhog, wait until the Bush tax cuts expire in 2010.
Posted by MissIndependent (anonymous) on November 18, 2009 at 3:05 p.m. (Suggest removal)
Stop spending money we don't have. Now doesn't that make sense? Seems easy right? Apparently there must be some challenge that I am not aware of because our government keeps doing it.
Very well written piece.
Posted by bornFree (anonymous) on November 18, 2009 at 3:21 p.m. (Suggest removal)
LEFTYS, all administrations spend a ton of money, some more then others. Don't know if you have heard(probably not) but Obama has spent more then the two Bushes, Clinton and Reagan(might be wrong about Reagan) combined. I really don't think the anointed one really cares about how big the deficit is as long as he is giving hand outs. We all know the more entitlements the more taxes increase, things don't come free.
Posted by Intheknow (anonymous) on November 18, 2009 at 6:42 p.m. (Suggest removal)
I agree with Ken about the problems with the ever expanding federal deficit but I wonder how his own political record would stand up to his requirement of non-deficit spending.
What kind of salary and benefit increases were there at District 241 while Ken was school board president? Were teachers and administrators promised more than the district could afford and was the long term fiscal viability of the district ignored?
Yes, teachers need to be well paid but if the state isn't providing the money and the local taxpayer can't afford another referendum, maybe our local politicians have to say no.
Posted by conserned (anonymous) on November 18, 2009 at 7:22 p.m. (Suggest removal)
Where were all the skeptics when Bush was breaking the bank? Most of the stimulus money will be repaid. Would they let the economy go into a full blown depression? Just stop spending is the mantra but no solutions are given as usual. All this talk has one goal -- getting the party of NO back into power so they can do what they did to the nation/world again. They want many things but are not ready to pay for them.
Posted by GH2ORepub (anonymous) on November 18, 2009 at 9:04 p.m. (Suggest removal)
The debt created under Pres. Bush is just “chump change” compared to what Pres. Obama and the DEMS are doing. The National Debt is predicted to be over 12 Trillion.
12 trillion amounts to over $36,000 for every man, woman and child in this country. Wait until we also have to start paying interest on those trillions.
By the way what has Obama accomplished in his almost a year in office?
All I see is chaos!!!
Posted by trifid (anonymous) on November 19, 2009 at 1:59 a.m. (Suggest removal)
Cut up your credit cards, Mr and Mrs Public. I dare you.
The financiers love debt. It is their form of redistributing wealth from the working class to the elite.
The blabbering fools who attempt to politicize wealth distribution refuse to acknowledge the power of financiers, which is supreme.
Posted by Truth (anonymous) on November 19, 2009 at 10:33 a.m. (Suggest removal)
At least funny bones are being stimulated by the Obama Administration's $787 billion economic stimulus bill.
To wit, how many Americans does it take to make nine pairs of work boots? According to the White House's recovery.gov site, an $890 shoe order for the Army Corps of Engineers, courtesy of the stimulus package, created nine new jobs at Moore's Shoes & Services in Campbellsville, Kentucky.
The job-for-a-boot plan may not be American productivity at its best. But such stories go a ways toward explaining how the Administration has come up with 640,329 jobs "created/saved" by the American Recovery Act as of October 30.
Jonathan Karl of ABC News deserves credit among Beltway reporters for committing journalism and actually fact-checking White House claims. Head Start in Augusta, Georgia claimed 317 jobs were created by a $790,000 grant. In reality, as Mr. Karl reported this week, the money went toward a one-off pay hike for 317 employees.
Other media outlets and government watchdog groups have also found numerous errors in the stimulus filings. Jobs have been overstated or counted multiple times. One Alabama housing authority claimed that a $540,071 grant would create 7,280 jobs. The Birmingham News reports that only 14 were created. In some cases, Recovery Act funds went to nonexistent Congressional districts, such as the 26th in Louisiana or the 12th in Virginia. Up to $6.4 billion went to imaginary places in America, according to the Franklin Center for Government and Public Integrity.
Asked by the New Orleans Times-Picayune why so many recipients would misstate their districts, Ed Pound, the director of communications for the Obama Administration's recovery.gov, said, "Who knows, man, who really knows."
The nonexistence of the jobs and places allegedly stimulated by the Recovery Act doesn't necessarily mean the money was misspent or stolen. But it does indicate that the claims made on its behalf are a political illusion. The true jobs measure of an economic recovery is the unemployment rate, which rose to 10.2% last month. No matter how hard or imaginatively the Administration spins, the reality is that the stimulus has been the economic bust that critics predicted it would be.
http://online.wsj.com/article/SB10001424...
Posted by seethruthesmoke (anonymous) on November 19, 2009 at 12:02 p.m. (Suggest removal)
I think Americans are part of the problem. It seems to me that there is a lot of Americans that will break the rules for their own gain. Cheat on their taxes, collect benefits they are really not entitled to, and work for cash while collecting unemployment. Do you know anyone doing the above or are you one who does such? It seems the attitude today is as long as I get mine, the end justifies the means. It all adds up. How does a govt. deal with this kind of people? Sad.
Posted by outoftownlandlord (anonymous) on November 19, 2009 at 12:43 p.m. (Suggest removal)
So I take it you are not a fan of Timmy "the elf" Geithner or Charlie "I can't understand the very tax law I write" Rangle. It took a Constitutional amendment to make income tax legal. It is time for the States to repeal it Our government and leaders are to be above reproach. It is like mon and dad saying don't smoke while lighting up. Just doesn't work.
Posted by bornFree (anonymous) on November 19, 2009 at 1:34 p.m. (Suggest removal)
For my liberal friends.
http://www.verizon.net:80/newsroom/porta...
Posted by GH2ORepub (anonymous) on November 21, 2009 at 12:21 p.m. (Suggest removal)
Still waiting for a list of Obama's accomplishments?
Posted by NoDFL (anonymous) on November 21, 2009 at 1:59 p.m. (Suggest removal)
Don't hold your breath GH20Repub. I would like to see the accomplishments of this congress. They have done more to ruin this country than any congress in history.
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