America's dilemma is politics of extortion

info@islandpacket.comOctober 10, 2013 

Let us temporarily set aside the fact that the Affordable Care Act was passed by the Senate, signed by the president and upheld by the Supreme Court.

Ignore the fact that 80 percent of Americans are already insured by their employer or the federal government.

Forget that neither of the two major funding streams for Obamacare is a direct tax on individuals unless you make more than $200,000 a year, in which case the taxes on your investment income were raised -- last year.

I would also ask you to overlook that only 3 percent of small businesses will be affected by Obamacare (97 percent of all small businesses have fewer than 50 employees).

What I would ask you to consider are the ramifications of the failure of the world's largest borrower to pay its debt. The $12 trillion of outstanding debt, 47 percent foreign-owned, dwarfs what the country went through in 2008.

Any news agency or politician that is telling you a default might not be that bad is doing you a great disservice. We are being threatened by the actions of some members of the House. They hang this catastrophe over our heads because they disagree with a law. To quote Paul Krugman, the Nobel Prize-winning professor of economics at Princeton University, "Any concession at all would legitimize extortion as a routine part of politics."

Regardless of your political leanings or thoughts on Obamacare, this is a precedent that cannot be allowed to take hold.

William Jesse Clements

Beaufort

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