I really cannot understand how the government at the end of December extend tax breaks to all and in mid January complain that there is too much debt.
When I need more money in my life I do not go to my boss and ask for a pay cut. I ask for a raise or find another job or find a second job. This is called being responsible. The state of Illinois recently raised their personal income tax. The reason for this is o they can work on their budget problems. States and the Federal governments have been borrowing money like crazy for the last quarter of the last century. The United States has often borrowed money. We were in debt from the Revolution. Alexander Hamilton created a very aggressive plan in the infancy of the country to pay that back and create trust in the American currency and bonds.
Maybe with all the bailouts of banks and insurance companies the United States should have created a national bank with that money and lend it to the people and collect the interest from the loans would go into our treasury.
We need some really inventive ways to pay this down.
Here are some cuts that can be made to the budget and projects that can be implemented to build a stronger nation.
1. Everyone collecting welfare and unemployment works for their money. With cities and states cutting services, unemployed people can mow the grass, trim trees, clear trees, or pick up liter. This frees up money for the municipalities and states to move those employees to more customer service type work (if they had not already been let go.)
2. Cut off foreign aid. We do not need to give billions of dollars to other countries. We have our own issues in this country and we do not need to be the world’s charity.
3. Cut military spending. We need to listen to what the military wants. There are several projects that come from Congress as opposed to the Pentagon. These pet projects need to be cut. Our navy is larger than the next 13 navies combined. (11 of the navies are from our allies.) Our air force is much larger than China’s. We can decrease some of our military spending and pay down on debt.
If we start using some common sense and realistic budgets we can decrease our debt and increase our security.
Now on to what is about to happen in Congress. The debate on the debt ceiling. Yes, we need to expand the debt ceiling at this point. If we do not, our economy will be devastated. Our currency will drop in value and faith in the United States (and capitalism) will be greatly diminished. If we cannot afford to pay our military, we run the risk of losing ground in Afghanistan and in the war against terrorism. In history, we have seen countries that have trouble paying their military. What happens? The military, on more than one occasion, has over thrown the civilian government. The people unwilling to compromise on this are playing with fire that I do not want our country to play