It wouldn't take forever to implement a deficit reduction plan that would begin to address the deficits immediately. The economy will never "roar" with these massive budget deficits.
Stabilize the economy and finish the wars, then steadily cut costs and increase revenues calculated to reduce the deficits and start posting surpluses. You reduce the national debt by posting budget surpluses and paying it down. We did this only 10 years ago. We have to do it again. Conservatives say that costs must be slashed. Liberals say revenues must soar. Moderates say a little of each is easier to swallow and more likely to be successful. It worked for Clinton in the 90's. It can work again but it absolutely requires a robust economy which must be our immediate priority even if it means a few more years of deficits. I tend to agree. The national debt is an impending problem while the recession is an immediate one. Fixing the economy is essential in order to post surpluses to pay down the debt.
The massive CBO deficit projections are based on the economy stabilizing. The expense of the wars is but a fraction of the projected annual budget deficits. Cut cost where? We see nothing but increased spending from this administration. How can we get to a "soaring" economy when the national debt is and will continue to have a slowing effect on the economy? Or is it your view this is not the case? Health care is also an impending problem. I agree the economy should be a top priority. My original argument was that the deficit was more of a crisis than health care was.
the previous enormous debt under Reagan was worked through. not sure which came first though, debt reduction or growing economy dont forget that high debt isnt all bad (it certainly is mostly bad. i dont want you to think i believe it is desirable). US consumer purchasing power goes down and a larger piece of the budget goes to pay the debt and interest but exports will benefit especially once the credit mess is sorted out.
$534 Billion is a significant fraction. The debt doesn't slow the economy. It is just a looming expense and a waste of $500 Billion in interest to bond-holders each year. The economic collapse was NOT due to the national debt in any way. It was due to the mortgage and bank collapses after the real estate bubble burst due to lax federal regulations under He-Who-Must-Not Be Named. The economy has to get moving first to produce the surpluses needed to pay down the debt.
According to Louisiana Conservative -dot-com (see link below) the "town hall meeting on the Obama Health Care Plan" is this Monday morning in Reserve. Its the first time I've seen the date, time and location announced, and I would call this rather short notice (article posted yesterday). LaCon.com is claiming that the White House is withholding pre-publicity on the meetings so they can control the attendance and insure that only pro-plan citizens attend. Since my TV station did not get a press release on the meeting, I called the White House Press Office and made the request this morning. So far, they have not responded. Has anyone else seen this information anywhere else? Obama’s Not-So-Secret - Secret Town Hall Meeting. |
