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report print email Source: Editorial: Political discussions hard to have these days
Very little difference between Republicans and Dems
September 05, 2012 | 12:51 PM

I find it odd that there is such division in our political discussions when both sides are fiscally irresponsible, refuse to deal with the harsh realities of government spending and are both guilty of taking our nation down a path of financial ruin.

Both Republicans and Democrats are parties in which fiscal liberalism is rampant at the expense of our children and grandchildren, who are being saddled with the debt of government programs that we in the present want to use but don’t want to pay for.

President Obama and the Democratic Party are criticized for their stimulus plan, while it was the Bush Administration that championed and passed the TARP bail-out plan for large financial institutions. I find it hard to justify either, as both are based on a redistribution of resources earned by taxpayers (or borrowed from future taxpayers) that benefits a few at the expense of the many. The TARP plan was later changed to add funding for the auto industry, so now taxpayers are part owners of GM and Chrysler (which was supported by “Conservative” Congressman and Vice Presidential candidate Paul Ryan). So much for letting the free market decide the winners and losers in the automobile business.

Democrats seem to offer a plan that includes more of the same under Obama, along with plans to “tax the rich”, which could not only kill job growth but could force more large US Corporations with foreign subsidiaries to legally leave profits off shore and out of the reach of the IRS.

On the other side Republicans offer a plan based on tax cuts as a way to grow our economy in order to eliminate or reduce our annual budget deficits. During the administration of President George W. Bush, Congress passed both tax cuts and tax rebates, neither of which grew the economy enough to offset federal spending. During the Bush administration the limit on the National Debt was raised eight times from $5.95 billion to $11.315 billion, so it is apparent that tax cuts and tax rebate checks did not provide the stimulus necessary to grow the economy enough to prevent deficit spending from occurring.

The bottom line is that both parties are guilty of failing to address the role that government spending has in the destruction of our economy and how it threatens the security of our nation. Recent history has demonstrated that stimulus plans and tax cuts are no substitute for cutting government spending.

Here is the harsh reality that neither party wants to tell the American People " If you look at the Proposed Federal Budget for 2012, the majority of spending is based on four large government programs plus interest on the National Debt. The budgetary estimates for Security / National Defense, Social Security, Medicare, Medicaid and Interest Payments are at $2.6 trillion dollars. Total Federal Revenues are estimated at $2.47 trillion dollars for the same period, which means that government spending is already in the red without the costs of any other government programs. When you add in all other government programs, the total deficit for 2012 is projected at $1.33 trillion dollars, and the current budget forecasts show continuing deficits with no end in sight.

Without major spending cuts in government programs, including National Defense and Entitlements, our economy will continue to stagnate and our national debt will grow until investors realize that we are no longer a safe place for investment. At that point our nation will no longer be a leader in terms of business, industry, innovation, education or science, and will be nothing more than a bankrupt shell of its former self.

James from Lake Geneva
Walworth County