Archive for the ‘deficit’ tag
The failure of the deficit reduction panel this week proves that we have few, if any, true leaders in Washington. The obvious bulging expenditure in the national budget is the military, but apparently that is the sacred cow, so no matter how far the national debt sinks, and the economy, that is untouchable.
Rosanne Altshuler an economist with Rutgers University and a former member of George W. Bush’s tax reform panel, seems to have said it best:
There could be a bit of a silver lining. It forces us to come to terms with cuts in areas that have been difficult to touch — the military and Medicare. We may not like how the cuts are going to be done, but we better start dealing with the fact that cuts are going to have to be made.
That’s the kind of honest assessments that we need if the nation is going to balance the budget any time soon. Some departments that do not contribute to human well-being (Not education or health care, for example) should be cut.