Anybody notice, we’re going broke?

 

 

“MEDICARE IS UNDER WATER BY $30 TRILLION DOLLARS, SOCIAL SECURITY BY $5.7 TRILLION, AND THAT’S JUST CONSIDERING A 75-YEAR HORIZON.”

 

(These entitlements comprise 45% of the federal budget.) 

 

 David Walker, Democrat, former Comptroller General.  **

“Clearly you want to minimize tax burdens in order to maximize economic growth, maximize disposable income, and maximize investment, productivity, innovation, to maintain our competitive advantage,” declares David Walker.

 

 

The last thing we do is follow Obama’s plan:  raise taxes, increase federal spending, cut defense, extend benefits and amnesty to illegal aliens, ignore border security, allow the U.N. to tax Americans, launch government funded healthcare, restrict trade.

 

 
McCain’s plan makes sense to me in the face of what David Walker has warned about entitlements, the unfunded liabilities, and Boomers filing for benefits in the face of a shrinking workforce: spending freeze on all but essential services, stabilize the housing market (protect families’ homes), encourage long-term investment in stock market with tax breaks, cut taxes for everyone (which has always stimulated the economy and actually increased revenue to the treasury), go through the federal budget line by line to reduce spending and cut ineffective/wasteful programs, increase trade, support small business and corporations so they expand and create jobs, tax reform making it simpler and more equitable*, real energy independence and development of domestic sources of petroleum so we can transition to cleaner alternatives, and use nuclear and clean coal to get there as well.

*In reality we already have income redistribution.  The top 25% of income earners pay 86% of the income taxes, and the lower 40% of income earners pay nothing at all.  We are already soaking the rich, the very people best positioned to invest and grow the economy and create jobs.

We are seeing wealthy Americans move resources offshore and away from Obama’s IRS.   The Obama effect is already being seen in the markets as well.

As to defense as a percentage of the overall budget:  get a load of this!  (David Walker, Democrat, former Comptroller General)

 

 
1965:  43% of the federal budget spent on defense

2005: 20% of federal budget spent on defense

 



**http://www.youtube.com/watch?v=KIgrxpp97OQ&feature=related

Who in his right mind suggests cutting defense and hamstringing our military and intelligence agencies in a time of unprecedented lethal threats worldwide?

RECOMMENDATIONS FROM DAVID WALKER

**http://www.youtube.com/watch?v=DXr_Ga_n0pY&feature=related

 

 

1.  re-impose budget controls both in terms of taxes and spending

2.  increase transparency in terms of long-term costs projected – THE MEDICARE PRESCRIPTION DRUG PLAN IS AN EXAMPLE OF WHAT NOT TO DO! ($8 TRILLION DOLLAR PROGRAM!)

3.  must reform entitlement programs (cut and reorganize, not expand), we simply MUST to remain solvent

4.  must re-engineer the base of mandatory and discretionary spending

5.  tax reform***

 

“Clearly you want to minimize tax burdens in order to maximize economic growth, maximize disposable income, and maximize investment, productivity, innovation, to maintain our competitive advantage,” declares David Walker. (JFK understood this and agrees with McCain by the way.)

 

 

 
 

6. “There are lots of numbers and they are all big and bad.   This is about values and people.”  Public officials have a responsibility to leave the country better positioned for the future.  This has been our tradition.

 

 “The baby boomer generation may be the first in our history to break that tradition.”

 
This is about our kids and grand kids. “THEY DIDN’T CREATE THIS PROBLEM BUT THEY’RE GONNA BEAR THE BURDEN, AND THEY’RE GONNA PAY THE PRICE, IF PEOPLE DON’T START MAKING TOUGH CHOICES SOON.”



In short, we have to tighten our belts dramatically and become hyper-disciplined concerning government spending, yet, Obama wants to take us in the opposite direction, insisting on an orgy of new spending, and, this will bankrupt us, and destroy our economy.

 

 

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