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report print email Source: Editorial: We need know the facts to solve America’s problems
Comment on Factual Information
June 09, 2011 | 10:59 AM

Lisa's editorial has some very good points. Information that is in fact accurate should be quoted correctly and considered a factual statement. Politicians, bloggers, and in many cases people who write comments like this are slanting the truth somewhat to carry a point. Journalists are trained in how to write a factual story and carry their message at the same time. Run of the mill bloggers are not. It would really be nice to get a nice concise statement of how long Medicare and SS would last with todays programs in place and today's set of assumptions. The problem is that there are also factual ways to present information with different assumptions and make the numbers come out differently.

One clear piece of factual information; however, is that if we exceed our statutory debt limit in early August, we cannot borrow any more money and will not be able to pay all our bills. This country would in fact be in default on its debt. Period. Even if we get close and start to stir up the credit rating firms, this game of chicken is dangerous. Going into August without an increase in this debt limit will amount to an instant rise in interest rates for borrowers and will be the equivalent to downgrading the rating on government bonds. This cannot be allowed to happen. Note that while we increase this limit we absolutely have to curb spending and get some realistic tax rates in place for higher income earners to get our revenue stream back on the right track. As soon as these steps (both spending cuts and a tax increase) are taken, we will see a significant improvement in the markets and job situation.

Dave
Williams Bay
Community Bank CBD
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