Share pain, sacrifice to save nation

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We have watched our government spend taxpayers' money like there is no tomorrow through many administrations, both Democratic and Republican. Tomorrow has arrived with a $14 trillion national debt thud.

In 1961, we paid $9 billion in annual interest on a national debt of $290 billion. The figure in 2010 is up to $413 billion. That's interest, not a reduction in the principal. The Congressional Budget Office says that by 2021 interest payments will reach $1.1 trillion a year. That's 1.5 times what we spend on national defense.

By 2046 every dime we take in tax money will be spent on interest payments if we don't put a stop to it now. The future of everything for which this country stands at risk, and Standard and Poor's has now downgraded our creditworthiness.

The National Commission on Fiscal Responsibility report has been out since December. It offers a concrete plan to address our fiscal woes and represents a bipartisan approach. Republican U.S. Rep. Paul Ryan has a plan as well, as does President Obama.

Both sides find fault with all three proposals because each proposes cuts not palpable for their own interests. Cuts in spending, increases in taxes and modifications to entitlements all are on the table in various forms.

Now is it possible our politicians can sit down and practice the true political art of compromise? With three plans on the table, certainly we should be able to take the best parts and hammer out a plan that results in a budget and future course of action that gets us on the road to recovery without smoke and mirrors.

Hopefully our leaders and all of us recognize we have to increase taxes, cut spending, adjust Medicare/Medicaid and modernize Social Security to accomplish these goals. As we did in World War II, all should share the pain and sacrifice something for the common good.

Are we prepared to do it? Our future generations will have to live with decisions we make now.

Jack Burke

Aiken, S.C.

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robaroo
750
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robaroo 05/02/11 - 06:55 am
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When anybody has been living

When anybody has been living beyond their means for a long time, the changes are painful. But, it has to be done.

It looks like the US will get a front row seat to see what happens to a country that goes bankrupt. Greece, Spain, and some others are pretty close. Those countries have an advantage we don't - the European Union can bail them out.

Jane18
12332
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Jane18 05/02/11 - 11:34 am
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By then robaroo, we will

By then robaroo, we will probably be looking at the One World System. It's coming, just remember I told you.

unclemorriss
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unclemorriss 05/02/11 - 08:18 pm
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I am all for adjustments to

I am all for adjustments to medicare and social security---ONLY AFTER--welfare recipents are drug tested on a regular basis, EBT is done away with, aid to dependent children, section 8, aid to illegal alliens, and pay for women having baby after baby is adjusted to the truly needy. When that is done, then, come after programs that people spent their whole lives paying into!!!!!!!!!

Techfan
6461
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Techfan 05/02/11 - 09:11 pm
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...and people stop getting

...and people stop getting tax deductions for spitting out kids.

Adder
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Adder 05/03/11 - 04:19 pm
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No. I want my benefits !!!
Unpublished

No. I want my benefits !!! You just pay more taxes !!! I'm entitled.

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