Democrats claim that they will in time successfully tackle the debt by spending more money. That Keynesian idea has historically proven to be false. Republicans, on the other hand, preach that they are the true conservatives. They forget to tell us that they joined George W. Bush in adding $4 trillion to the debt of the United States.
Former Senator Alan Simpson, a Utah Republican, is someone I admire very much. Simpson believes that neither Republicans nor Democrats have the intestinal fortitude to solve our credit problem. He is the one person who knows how to get our fiscal house in order.
First, our federal budget has to be cut significantly. This means cuts in military spending, foreign aid, Social Security, and Medicare. As you can see, this will affect millions of people. Nevertheless, it has to be done.
Second, Simpson sagaciously tells us that all of us will have to pay more taxes. This includes me. Yes, the super wealthy should pay more in taxes. Fairness demands it. However, it will take all of us to begin to pay off our cancerous debt.
Paying off the debt can be done. The problem is that the politicians and news media aren’t willing to back Simpson’s common sense plan. Neither Romney, Gingrich, nor Obama have the political will to tackle this debt of over $15 trillion. Our dysfunctional Congress is even more incompetent than Obama and his Republican opponents when it comes to balancing the budget.
What will save us is that our creditors soon will stop loaning us money- pure and simple. China, a communist country, has already said that they are not absolutely sure that the United States has the capacity to pay off such a large debt. Why continue to loan money to someone who cannot and will not pay his bills?
America is a wonderful country. Like you I am proud to be an American. However, I am not proud of our politicians in Washington. As far as I am concerned, throw them all out.
Larry Summerour of Troup County is a retired pastor who enjoys political commentary.