Tuesday, May 21, 2013
Letter to the Editor
Sequestration, what does it really mean? I find these national budget discussions frustrating and troubling.
These draconian cuts, which were designed by Congress as too difficult to endure to force them to make a deal, by my reckoning are about 2.5 percent of the amount the government will spend this year. Could all of us not survive a 2.5 percent cut in our personal budgets?
In addition, we talk about the national debt all the time and I bet 90 percent of the population doesn't understand whether the talk is about this year's deficit or the total national debt or deficit. They, of course, are not the same thing.
Finally, we never seem to talk about, in terms people can understand, the real issue, the unfunded liabilities, Social Security, Medicare and prescription drugs.
I saw some data suggesting the value of all national assets -- yours and mine and corporate etc. -- are much less than the total of unfunded liabilities. That gap widens every second and does not include the national debt.
When are the guardians of our society -- the free press -- going to start putting these issues squarely, fairly and understandably before the public and hold the professional spin masters accountable?
We need to stop pitting the haves and have-nots against each other, and we all need to lock our arms together and make some sacrifices. The current strategy of printing more money won't work forever.