No one envies the 12 lawmakers who will sit on a panel and try to agree on what to cut from federal spending and possibly how to raise revenue in a precarious economy. They risk the wrath of their fellow lawmakers and the voters back home. We need tough people on that committee because they will make some tough calls … I hope.
First tough call: defense. How can we sustain two wars for ten years without raising taxes to pay for it? We may also have to downsize our entire military. It’s the biggest single item of discretionary spending.
Second tough call: why does federal spending need to increase every year? If we can’t cut, can we at least slow the rate of increase?
Entitlements: adjust the in-flow and out-flow to make sense. Then … lock the Social Security Trust Fund so the government can’t keep borrowing from it.
Tough calls require sacrifice. I’m ready for it … are you?
Our thought for today is from E. F. Schumacher:
“Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius – and a lot of courage – to move in the opposite direction.”