The Real Fiscal Cliff – Please Vote for Romney

 

 

My son sent me this interesting video.

 

Part of our problem in America is that we turn each other off with our discourse.  Watch this 5 minute video;  it lays out the simple facts of America’s fiscal catastrophe.  What we’re doing is nation ruining and one does not need to know anything more than kitchen table, checkbook economics to see it.

 

Now please just pay attention to Hal Mason’s numbers;  ignore the occasional heated rhetoric, pictures of falling Trade Towers and the like.  His numbers come from the official Obama budget;  Mason is not making things up.  I provide the links below so you can see for yourself.

 

Please, watch this.

 

http://www.youtube.com/watch?v=EW5IdwltaAc

 

N and I are convinced that the nation’s single most important problem is the deficit and resulting national debt.  The fiscal issues are so critical as to far outweigh every other national problem combined.  If we let the country go bankrupt, it just won’t matter whether or not our kids are illiterate or gays can’t marry.

 

By 2022 the interest on our debt will be almost $1 trillion per year and that assumes both unrealistic GDP growth and unrealistic borrowing costs in the later years of the 10 year period See Summary Table S-14.  If we go down this path, GDP growth will be far lower than the President’s assumption of 6% and borrowing costs will far exceed the assumed 4%. 

 

At the moment, the debt per taxpayer is $141,204 each.  The President plans to add another $trillion a year to the debt so in 2022 my grandchildren – should they choose to work for a living – will owe around $230,000 each.  Folks, the deficits not only have to go away but turn to surplus in order to pay down the debt. 

 

And, the biggest problem inside the deficit is us.  Not only do 43% of American households pay zero income tax, we pillars of the community take out far more in benefits than we pay in.  Look again at entitlements in the budget.

 

 

In 2013 we’ll spend $3.60 for every dollar we put into Medicare;  in 2022 we’ll take out $4.38 for every dollar we put in.  Boys and girls, we are not paying our own way.

 

Skip the silly rhetoric and you’ll see that Mason’s conclusion is correct.  It is up to us as voters to never forget that the fiscal issue is the only issue for the moment and to vote for those that get it.  President Obama doesn’t get it;  maybe Romney does.  It’s our hope the nation gives Romney a chance – while making an example of President Obama as we did to the 111^th Congress.  And if Romney fails we must keep dumping the Executive and legislators until we find folks who’ll tell us the truth and act on it.

 

The President’s 2013 Budget at the OMB

            http://www.whitehouse.gov/omb/budget/Overview/

            National Debt Clock
            http://www.usdebtclock.org/