Spending cuts won’t fix budget
In response to the Cal Thomas column in the Sunday edition of the Roswell Daily Record I would like to offer a different view regarding his comments as to the cause of our deficit problems. Our nation is on the path of probably the most rapid decline of any world power in the history of the world. Unfortunately, our decline is being accelerated by the single minded, uninformed, but readily expressed, opinions of the media.
His claim that it is not a lack of revenue driving the debt, but a lack of spending restraint is very much misleading. I really don’t think he could offer any reliable data in support of this statement. According to the 2011 Economic Report of the President the estimated revenue for fiscal year 2012 is 13.3 percent of the gross domestic product with an expense of 23.5 percent of GDP.
Another very misleading claim is that by not reforming entitlements, in reference to welfare, we are somehow robbing future generations of their right to economic independence and economic growth. Again he would have a very hard time finding reliable economic data to support this statement. Considering the total welfare program is slightly over 2 percent of GDP even a 50 percent reduction would give only a slight reduction in the deficit.
This obsessing over entitlements by the leadership of the Republican Party is a smoke screen to keep the focus off Login to read more