by MoneyBlogNewz
To
hear government and business leaders talk , you'd think it was self-evident that
our two biggest problems in the U.S. are the federal debt and deficit, caused by
Out-of-Control-Spending, due (at least partly) to
Out-of-Control-Entitlements-That-Must-Be-Reined-In-NOW.
Example:
Shortly before his re-election, President Obama declared, "There's no doubt that our first order of business is
going to be to get our deficits and debt under control."
Example: In January, U.S. Representative Eric Cantor (R-VA) offered this observation: "I think there's a growing urgency among the people in the country to say, You know what, it is high time for the federal government to get control of the unfunded liabilities in the entitlement programs."
The debt, deficit,
and so-called "entitlements" are seemingly so worrisome that some of our most influential
Job Creators have formed the CEO Fiscal Leadership Council (of Pete Peterson's "Fix
the Debt" Campaign); their plan to share fiscal their "thought leadership" and "strategic
guidance" with the American people. Accordingly, last November, Honeywell CEO and
"Fix the Debt" Steering Committee member David Cote went on "Meet the Press" to
warn the nation that "entitlements" are the "ticking time bomb that's going to kill us."
And despite its preference for the term "reform" over "cuts,"
the Obama Administration has repeatedly signaled its support for Social Security
cuts (e.g. Obama's campaign debate statement that he and Romney held similar
positions on Social Security, his campaign's cryptic press release offering the
unsettling assurance that he would not privatize and not "slash" Social Security
benefits; and his support for the Chained CPI, or Consumer Price Index).
So...we all agree that these things pretty much go without saying:
- Our
spending is Out of Control.
- We
have a Looming Debt Crisis.
- The obvious conclusion here is that Social Security recipients must make do with less in monthly benefits (average per retired worker is $1,237). (Cut back on the cans of Dinty Moore Beef Stew, Grandma, or we'll have to end school meal programs for poor kids! Start reusing those corn pads, or we'll have to shut down crisis hotlines!)
And
many of us can agree to these:
- While
most Medicaid recipients are good, hard-working Americans, some of these people
get sick, and sick people can be so expensive.
- The
best approach to deficit reduction is the one that is bipartisan and immediate.
Right?
No.
I, for one, don't agree. And I don't think I'm alone.
Re
the deficit: Recently, I surveyed my friends about their most urgent concerns
and the Debt Situation. My survey suggests that for many people, there are more
urgent concerns than the nation's debt, including the prospect of "clipping my pet's
toenails" and the prospect of "finding a spider at home." Perhaps this is
because: 1) they know that Social Security and Medicare don't contribute one
penny to either the deficit or the debt, and 2) they think that if we can
afford multiple wars, tax breaks for the rich, and corporate tax loopholes, then
surely we can afford health care for poor people.
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