National Debt: Diet AND Exercise, Not Diet OR Exercise

Even among third party candidates, I’ve never found anyone who completely lines up with my values. The national debt is around $16 trillion. The wick is already lit on that bomb. One party says, “cut taxes and cut spending”. The other party says,  “raise taxes on only the rich, and spend away”. Seth and Amy could do an entire Really?! segment about it on Weekend Update. When you are 16 trillion dollars in debt, a trillion is a thousand billion for everyone as bad at math as I am, you  do not raise taxes OR cut spending. You raise taxes AND you cut spending. As popular of a position as it may be among politicians pandering to the masses, only raising taxes on the wealthy. and only cutting defense spending ain’t gonna cut it. We have to cut spending in medicare, medicaid, social security, and safety net programs like unemployment. My immunity challenge reward is reserved for education. I would like to protect and raise infrastructure spending too, but I only get one. We also have to raise taxes on almost every income bracket. It’s my opinion that most people would support a progressive tax rate if it wasn’t an excuse to rob people. Being wealthy isn’t a crime. It can be a good thing. So if we are going to make rich people pay a higher tax rate it should at least go toward paying for only the top priorities. I HATE the idea of paying higher taxes and getting less. I’ll say that again to be clear, I HATE the idea of higher taxes. I’m not trying to go Walter Mondale on anybody. But we have to balance the books. When we’re back in the black again, THEN we can argue about lowering taxes OR raising spending. Gosh, that  would be a nice luxury to have. You’re probably nodding your head, agreeing with me by this point in the post. You might even wonder “yeah, why isn’t there a candidate that proposes cutting spending and raising taxes? Because you wouldn’t vote for her. No candidate could ever be elected by saying, “Vote for me. Get less. Pay more,” Too bad, really. Paying for interest on our debt already accounts for 6% of our national budget. When that goes up, something will have to go. And they’ll be bringing in all kinds of ways to pay for it. Now or later, pain’s a comin’. It’ll hurt less if we do it on our terms.  Why not do it now?

http://www.cbpp.org/cms/index.cfm?fa=view&id=1258

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4 thoughts on “National Debt: Diet AND Exercise, Not Diet OR Exercise

  1. I’m so glad that I saw this, I’m currently writing a more detailed look at all the numbers prudent to our nation’s finances. The most staggering obviously being unfunded liabilities at $120 trillion. I’ll provide arguments why both major parties are wrong about the solution, expose the level of waste of social welfare programs, and provide alternative theories on policy-making that could greatly contribute to the federal government’s revenue without having nothing to do with imposing mandatory taxes (and hikes of existing taxes) or cutting spending. Combine all three and we may actually have some financial solvency in our lifetimes.

  2. 1834-The banking dynasties watch in dismay, as Andrew Jackson becomes the first and only President in US history to pay off the entire national debt. Taxpayers are spared the burden of paying interest on debt to the Central Bankers. Jackson warns about the danger of debt:

    “I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country.”

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