When you find yourself in a hole, the first thing to do is stop digging.
How many times have you heard this?
It all started with the sub-prime lending mess brought to you by Fannie Mae and Freddie Mac. Then came foreclosures, job losses, defaulting on credit cards, increasing gas prices, factory closures, more inflation. Followed by local governments can’t maintain their services because of less of tax revenue. The states had to cut their budgets because they are not getting enough in sales taxes other means. More and more people attempt to access some kind of public assistance. (SNAP, Medicare, TANF, etc.) and the system is overwhelmed by people looking for help. Let’s add in the cost of two wars. When the 2008 elections rolled around Barack Obama ran on the message of ‘Hope’ and ‘Change’
When President George W. Bush left office, there was already a sizable hole, When current administration took over, President Obama threw away the shovel and got a back hoe, with Obamacare, and the non-stimulus bill and other omnibus spending programs. Right now our country is over $14,000,000,000,000.00 in the (mighty big) hole right now it is getting deeper, to the tune of $4,000,000,000.00 per day
According the Heritage Foundation, our current budget has about 58% going to Medicare, Social Security and other entitlement programs. That seems like the place to start cutting Many of these programs are sacred to those whose voting base depend on this money. Getting them to agree on cut some of these programs, would mean the end of their political career. Our President wants to increase taxes on the most rich. If the ten of the most wealthiest people where to donate 100% of their fortune to fixing the debt. It wouldn’t even begin to scratch the surface of what we owe. So what are we to do?
There are two other wrenches in the works
- The TEA party. They backed many freshman republicans in exchange for the promise of no tax increases and to cut spending. They are holding those they help get elected feet to the fire. They have even came out said that speaker Boehner should step down because he isn’t tough enough.
- Credit rating agencies are telling congress, unless they cut $4,000,000,000,000.00 out of the budget, the United States of America will lose its AAA credit rating. It is not enough to raise the debt ceiling(or lower the floor.) That will send shock waves around the world.
Add this to the ?Republicans want to steal Christmas? and ? Democrats want to tax everyone for everything? drum beats. There are bound to be fire works in Washington.
We live in the greatest nation on earth.
- Our farmers can feed the world,
- we put men into space and on the moon,
- we can speak our minds without being thrown in jail, or worse
- we can worship in what ever manner we choose.
What ever happens on August 2, (when most of the bills come due) it is not going to be good, someone is going to get hurt.
The problem is not the United States, the problem is her goverment trying to be all things to all people.