Ada Fisher: Smoke and mirrors on the deficit
Try telling my banker that since I canít repay my mortgage he should simply raise my debt limit so I can continue my present level of spending. To suggest an across-the-board cut in spending to pressure legislators into balancing the budget is foolish. In the event of another terrorist attack, the defense budget could be woefully inadequate to respond properly and U.S. vital interest possibly compromised.
The biggest victim of the budget fiasco is the Social Security system, which is not an entitlement but an earned resource for its contributors. Monies paid into this fund for individual retirement by its savers is disproportionately used to bail out those in leadership lacking the guts to decrease the debts and spending of the federal government. Monies paid into Social Security should not go into the general fund, and 10 percent per year of the remaining budget should be put back into it over 10 years to cover past seemingly illegal divestitures. Only then can changes be made to Social Security with some view of what it will take to fix it.
ěObamacareî is likely to reduce the spending for Medicare and Medicaid even further than projected. This plan aims to pay for itself with a $500 billion reduction in Medicare, taxing those receiving student aid and other schemes which make no sense. These new cuts will bring us where the liberal intent was all along, the nationalization of health care. Physicians, hospitals, nursing homes and other agencies will be asked to settle for even less than 75 percent of their usual and customary charges. Who do you think will want to take care of folks at these rates?
Anyone who thinks that jobs are created by increasing taxes is sleeping. Anyone who believes they are entitled to take other peopleís income for use by the government without a vote of the people doesnít understand democracy. Anyone who believes they can keep spending without increasing revenues to cover that cost doesnít understand economics.
America must not continue to sleep through its ongoing economic crisis, continually putting off tomorrow what has to be faced right now. Alexander Tytler in 1787 recognized that ěA democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship.î
Now is the time to get back to the constitutional mandates of government ó national defense, judicial order and police protection, regulation of commerce and a few other things which government does best. We must keep our trust with our citizens and not break the covenant made with those who placed monies in Social Security. We must require that these funds be spent only on behalf of those who contributed to the fund.
For those worried about a global crisis, if our debt ceiling is not raised, remember that the USA remains the most generous of nations and our markets are still the most favorite trading places. So who they gonna call? Ghostbusters of the economy or Constitutional Trust Builders with our citizens?
Dr. Ada Fisher is the N.C. Republican National Committeewoman. Contact her at drfisher @getadoctorinthehouse.com.