July 11, 2011

Quick thought on debt

I was supposed to be in Cary, North Carolina today on business , but it got delayed until August.  Meanwhile, coming back from camping for a week, I was absolutely swamped with work and didn't get much of a any chance to post today. But I do have a quick thought to share regarding the budget, debt and debt ceiling talks.

Republicans argue that the issue is not revenue, but spending.  Overspending.  Part of the battle right now is around whether there are going to be modifications to non-discretionary spending (like Medicare). There won't be .

Let me make one quick observation: 

All spending is discretionary.

You don't HAVE TO have Medicare.  It's a choice to have Medicare as part of the 'system'.  You don't even HAVE TO have a military.  These are choices the people of America have made.  But like going to a buffet, it's easy to want it all and overindulge.  So when it comes time to stop going back to the buffet, you can stop eating everything (or some of everything).  'I'm only going back for desserts now' is not a solution.

Based on that, nothing as far as cuts go should be off the table.  Take taxes off the table.  Take long term versus short term off the table.  

Democrats should be willing to make adjustments to social spending.  Why?  Because making adjustments for 10 years down the road is kicking the can down the road.  That's their forte on debt - why not make it their forte on debt solutions too?

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