Responses to I.O.U.S.A.

Thanks to the some 15 people that responded to my blog of Aug. 25. It is the consensus that we are in deep trouble. And as Al said, "the path of least political resistance is to spend more and tax less." Al and Bob think inflation will minimize the problem for future generations. On the other hand, Charlie points out how infllation has caused an economic collapse in Zimbabwe, Turkey, Argentina and Germany (in the early 1920s). It is the consensus that there needs to be less spending. Al would go so far as to eliminate Medicare and Medicaid. Vern is right when he says there IS a candidate that has proposed raising taxes. Obama favors raising taxes of those making above $250,000. Al thinks the rich are taxed enough; that to increase their taxes would would mean less money for inestment in new ventures. Vern says that "The increasing disparity between the extremely rich and the rest of us endangers our future as a nation, and is a major reason for our consumption over investment in education, infrastructure, etc." SO, What should Congress do? Wayne has a plaque on his desk that says "No man's life, liberty or property are safe while the legislature is in session."
Wayne, this may be true, but when you are dying, it's worth taking a gamble. I definitely believe we need to raise taxes and reduce spending. But how and over what period depends upon "the conditions on the ground." Our course of action needs to be determined in 2009, when there is no general election. And it not only needs to be a united non-partisan effort--but our leaders, both in the executive and legislative branches, need to forget selfish interests ,and agree upon what is best for the country, even if it means the end of political careers.