Little-Acorn
07-29-2011, 10:32 AM
Should we compromise instead of changing course on the National Debt?
The big problem we are facing, is more than simply running out of spending cash this Teusday. The big problem is that our National Debt is WAY too high, and that we're getting to the point where:
1.) A large part of the Federal Budget goes to simply paying interest on that debt;
2.) Our Credit Rating may be downgraded soon, because of that huge debt (not because of the current spending-cash crunch), which will result in our having to pay a LOT more interest on that same debt; and
3.) If we are ever in a genuine emergency, we might find that no one is willing to lend us large amounts to enable us to fight it off.
Liberals (in both parties) want us to compromise, and enable govt to borrow a LOT more, while raising taxes that will slow the economy and cripple further recovery, and reduce spending cuts to mere "reductions in the rate of increase". Even if we raise our Debt Ceiling while doing little else, our credit rating will still be downgraded... because we are doing nothing to address the real problem: A huge National Debt.
Only the conservatives support a Balanced Budget Amendment to the Constitution - the only way to STOP the runaway train of borrowing and spending, and the first step toward actually solving the big problem: starting to pay off our huge National Debt. We can't start paying it off, until AFTER we balance the budget.
Is there any point in compromising?
http://media.townhall.com/Townhall/Car/b/mrz072811dAPR20110728014519.jpg
The big problem we are facing, is more than simply running out of spending cash this Teusday. The big problem is that our National Debt is WAY too high, and that we're getting to the point where:
1.) A large part of the Federal Budget goes to simply paying interest on that debt;
2.) Our Credit Rating may be downgraded soon, because of that huge debt (not because of the current spending-cash crunch), which will result in our having to pay a LOT more interest on that same debt; and
3.) If we are ever in a genuine emergency, we might find that no one is willing to lend us large amounts to enable us to fight it off.
Liberals (in both parties) want us to compromise, and enable govt to borrow a LOT more, while raising taxes that will slow the economy and cripple further recovery, and reduce spending cuts to mere "reductions in the rate of increase". Even if we raise our Debt Ceiling while doing little else, our credit rating will still be downgraded... because we are doing nothing to address the real problem: A huge National Debt.
Only the conservatives support a Balanced Budget Amendment to the Constitution - the only way to STOP the runaway train of borrowing and spending, and the first step toward actually solving the big problem: starting to pay off our huge National Debt. We can't start paying it off, until AFTER we balance the budget.
Is there any point in compromising?
http://media.townhall.com/Townhall/Car/b/mrz072811dAPR20110728014519.jpg