Letters

Letters 07-25-2016

Remember Bush-Cheney Does anyone remember George W. Bush and Dick Cheney? They were president and vice president a mere eight years ago. Does anyone out there remember the way things were at the end of their duo? It was terrible...

Mass Shootings And Gun Control The largest mass shooting in U.S. history occurred December 29,1890, when 297 Sioux Indians at Wounded Knee in South Dakota were murdered by federal agents and members of the 7th Cavalry who had come to confiscate their firearms “for their own safety and protection.” The slaughter began after the majority of the Sioux had peacefully turned in their firearms...

Families Need Representation When one party dominates the Michigan administration and legislature, half of Michigan families are not represented on the important issues that face our state. When a policy affects the non-voting K-12 students, they too are left out, especially when it comes to graduation requirements...

Raise The Minimum Wage I wanted to offer a different perspective on the issue of raising the minimum wage. The argument that raising the minimum wage will result in job loss is a bogus scare tactic. The need for labor will not change, just the cost of it, which will be passed on to the consumer, as it always has...

Make Cherryland Respect Renewable Cherryland Electric is about to change their net metering policy. In a nutshell, they want to buy the electricity from those of us who produce clean renewable electric at a rate far below the rate they buy electricity from other sources. They believe very few people have an interest in renewable energy...

Settled Science Climate change science is based on the accumulated evidence gained from studying the greenhouse effect for 200 years. The greenhouse effect keeps our planet 50 degrees warmer due to heat-trapping gases in our atmosphere. Basic principles of physics and chemistry dictate that Earth will warm as concentrations of greenhouse gases increase...

Home · Articles · News · Random Thoughts · No Free Lunch
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No Free Lunch

George Foster - August 12th, 2004
Code Red. Code Red. Take cover, the U.S. Treasury just launched its own terrorist attack on America in the form of $500 billion in federal deficits for next year.
I thought Republicans were the party of fiscal restraint, personal responsibility, and ANTI-big government. This federal deficit is the largest in U.S. history and don‘t give me the pat excuse that our overspending is an anomaly - the result of being at war.
True, we are spending hundreds of billions in Iraq and Afghanistan. Yet, the fight against terrorism will last for decades. If we can‘t stop federal spending from spiraling out of control while we are nation-building, how many trillions will the deficit increase if we are forced to engage in a conventional battle against a foe who will actually fight back with comparable weapons (i.e. North Korea)?
The accelerating deficits are an outrage - a growing menace to our country‘s stability and moral fiber. Economist Milton Friedman was correct when he boiled down his philosophy of government into “there is no such thing as a free lunch.“ When we spend money we don‘t have - trillions of dollars that our children and grandchildren will need to pay off - the chickens always come home to roost.
The widely-respected Brookings Institute has come out with a report named “Restoring Fiscal Sanity: Balancing the Budget.“ The list of how spending overages kill our economy in this report is jarring. Deficits increase household borrowing costs, increase indebtedness to foreigners, require a larger and larger proportion of revenues to be used to pay debt interest, impose enormous burdens on future generations, and most of all - slow economic growth. The Brookings Institute report also points out that the value of the dollar is at an all-time low when compared to currencies such as the Euro and many experts believe this is largely due to global concerns about the U.S. federal deficit.
In his State of the Union address, the President pledged to reduce the deficit by 50% in five years. Yeah, right. Some experts believe the projected $500 billion shortfall for next year is an optimistic estimate of excess spending - it could run closer to $700 billion after the dust settles. Obviously, we might as well get over any idea of reducing the deficit in the near future.
Even fiscal conservatives, who normally support Republican policies, are disturbed by this latest trend. Wall Street Journal editorials and the Heritage Foundation have both called for a higher priority to be placed on deficit reduction. Recently, dozens of Republican Congressmen met to formulate a strategy to attack the deficit.
The annual spending under George W. Bush has mushroomed far beyond any budget during Clinton‘s presidency. A major reason: politics. For example, under an onslaught of criticism from liberals for not providing enough protective body armor and benefits for all military personnel, the Bush administration recently signed legislation totaling $413 billion in increased defense spending.
If you believe John Kerry‘s attacks on Bush for miserly spending on troops at the Democratic Convention might have contributed to pushing this legislation through, you would be correct. Kerry says he would eliminate most of the recent tax cuts aimed at wealthy taxpayers, in part, to eliminate the deficit. The problem is that independent analysis shows reversing these tax cuts will only reduce the federal deficit by about $100 billion - not nearly enough to make a significant dent into the problem.
No one in Congress, the President, or any presidential candidate has the backbone to make the sacrifices necessary to eliminate the federal deficit and balance the budget. The only practical solution: we need a constitutional amendment to balance the budget every year.

 
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