It’s the spending, stupid.
According to www.usdebtclock.com, today’s national debt is $13,549,594,800,000 and increasing by the second. Furthermore, every tax payer is $121,759 in debt. Government spending is out of control. Government must cut spending. Projects that the government could cut are entitlement spending, as I proposed in last week’s column, the gradual privatization of social security, cutting down on national defense, freezing government salaries and scaling back on pork barrel projects. Everyone is going to get hit. Every department must start making tough choices. Yet to understand where government spending must be cut, it must be specifically clear how much money is spent.
Entitlement, national defense and education are the biggest contributors to the U.S. debt. The U.S. Government Printing Office posted on their website that 2010’s budget would consist of $1 trillion for government pensions, $1.1 trillion government healthcare, $900 billion national defense, $1.0 trillion government education and an overall $6.4 trillion government spending. I’ve originally shown that our current debt is close to hitting 14 trillion dollars, adding to that would be 2010’s budget. Just by looking at these numbers, one has to become alarmed.
Instead of cutting down on spending, the government is increasing it. Debt cannot be reduced by the Federal Reserve printing money. The government has to reduce actual spending.
First, America has been too involved in foreign policy. Ten years ago, President Bush ran against Al Gore on a humble foreign policy platform where the U.S. would not get involved in international affairs. Currently, a huge chunk of our debt comes from both the Iraq and Afghanistan wars. Troops must pull out of these two regions as do troops from the 120 countries. That will save the government money. In addition, thanks to the reckless spending from Medicaid/Medicare, Social Security and the newly approved entitlement Obamacare, our debt will increase. Instead of telling people that they will have to make tough choices with their entitlements, the government keeps increasing its spending. The same goes for education spending that funds programs such as No Child Left Behind that have been proven inefficient for our school system. Also, dare I say it, Congressmen, Justices and the President himself should freeze their salaries. It is unbelievable that the national unemployment rate is close to 10 percent and politicians in Washington get paid six-digit salaries.
Bottom line is that the U.S. has to cut the debt. In some shape or form, it doesn’t matter if you are a Democrat or Republican; people have to unite to decrease that $14 trillion number. Tough choices have to be made. Wars, education, and entitlements have dragged the U.S. into oblivion. Spending is the main issue. The question is how we cut the number.
By the way, while I was writing this article, the debt increased from $13,549,594,800,000 to $13,549,626,500,000 in only 40 minutes. The government has to take action.