The Roanoke Slant

-
Roanoke Times, 3-28-11, Pg 10: Editorial: Cuts just for cuts’ sake
Tea-Partiers want the federal government cut, no matter the consequences and no matter how little it will impact the debt.
-
Yet another Roanoke Times tirade lamenting the TeaParty and the Congressional Republican focus on getting the $1.5 TRILLION annual budget deficit under control so that we can then start to address the $14.5 TRILLION National debt that we owe, mostly to non-US entities who are not our friends. And that doesn’t count the indebtedness of our individuals, communities, states and authorities.
-
Of course there’s scant impact on the deficit! How can there be impacts on the deficit until we have a yearly budget surplus to apply to our debt? If your family is running up ten thousand dollars of debt per month on top of one hundred thousand dollars of total existing debt, perhaps you should immediately make a budget to live within your income and cut-up your family’s credit cards and prioritize your spending. Shouldn’t the government do to same?
-
The President of the Dallas Federal Reserve Bank believes in fiscal discipline and he is not considered to be a wide-eyed radical TeaPartier:
http://netrightdaily.com/2011/03/fed-official-insolvency-a-question-of-when-not-if/
“If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when,” said Dallas Federal Reserve Bank President Richard Fisher after a recent speech at the University of Frankfurt.
-
This is not a TeaParty issue; this is not a Republican issue;
This is a National Survival Issue!
-
Pandering to the 50% of our people who don’t pay taxes may make good short-term politics but facing the reality of bankruptcy at the personal, local, state and national levels requires more than playing politics; it requires citizenship and leadership!
-
What possible reasons do the Editors of the RT have for supporting those who are driving our country into bankruptcy?
The RT Editors never print the impacts of the numbers in their articles such as the service (interest payments) on the debt.
At 3% interest it is: $435 Billion per year.
As interest rates rise with inflation to 5% it will be: $725 Billion per year.
Since the Editors of the RT clearly were not math or economics majors, perhaps they should seek assistance on the magnitude and impacts of these interest payments on our people and economy; none of which pay down the principal (debt); it’s just money we don’t have going down a rat-hole.
-
This is the Obama-Democrat Plan for Economic Recovery and Job Growth and a better future for our children that the RT Editors are supporting? How sad!
-
Prior Items:
-
http://roanokeslant.blogspot.com/2011/03/obama-rubin-citibank-trifecta-from.html
-
http://roanokeslant.blogspot.com/2011/03/miami-ice-recall-mayor-for-tax-spend.html
-