09 Aug 2011
- Written by Ken Alpern
And while much of this indebtedness to such an economic, political and even military rival can be credited to former President G.W. Bush, current President Obama is as much if not more guilty of leading us into this vulnerability even if he doesn’t want to even mention the word “China”. (Link)
An even greater challenge is to get past the dueling accusations that to this day remain more political than factual in nature. President Obama and the Democrats claim it’s the Tea Party-influenced GOP that’s to blame, calling them “terrorists” and all sorts of names. The GOP leadership blames the President and the recent Democratic stimulus and health care initiatives for putting us over the edge and others blame both parties for too much spending.
The fact remains that while the liberals in our country decry military overspending and policies that favor corporate excesses, and while the conservatives in our country decry educational and social services overspending, it’s hard to deny that both sides aren’t bearing honest tidings in their critiques.
It’s also true that while we weigh the question of whether some or all of our nation’s taxpayers might have to contribute more to paying down our debt, the question of whether that money would be spent well and actually be utilized towards the debt must be answered first.
Other questions to be answered:
Is an 85 year-old the same as a 65 year-old when it comes to allotting Social Security and Medicare benefits?
Is a 33 year-old in good health but out of work for two years the same as a 33 year-old with cancer or multiple sclerosis when it comes to allotting welfare and Medicaid benefits?
If we were to cut the salaries of federal contractors and employees by 5-10%, and implement a federal hiring freeze, could we deliver the same services and quality?
If federal taxes were to go up, would they be employed to pay down our debt or to continue unsustainable spending policies?
Do we let our children’s generation pay for this decade of foreign conflicts, or do we pay for it ourselves?
And…of greatest importance…is this generation of Americans really able to rise up to the challenges of this “Sputnik moment”?
Tags: Sputnik, Sputnik Moment, President G.W. Bush, President Obama, Tea Party, GOP, Democrats, Standard & Poor, US Credit Rating
Vol 9 Issue 63
Pub: Aug 9, 2011