The overwhelming concern today is deficit spending -- not wars, not earthquakes, tsunamis, dependence on foreign oil, tornadoes, floods or the overthrow of despotic governments and who will replace them.
It's all about deficit spending. Face it, this country is based on deficit spending. Credit cards, home mortgages, business loans, student loans, buying stocks on margin, buy now and pay later are just a few examples of how we spend money we don't have or delay payment until later. It's called capitalism. I heard a leader of the tea party say that the only program she will support is one without the word deficit in it. A simple mind addressing a complex problem.
I am not naive about spending, but deficit spending is not bad in itself. It's the why, what and where you spend the money that is important. To sustain our position worldwide we must spend and invest in our social programs, protect ourselves from terrorism, stimulate the economy, maintain our infrastructure and be honest about unemployment.
That is not done by being obsessed with a balanced budget. It's like the old saying: Turn your company over to the accountants, and they will liquidate it to show a profit. The deficit focus is all about politics and trying to make the other guy look bad. We need to get our priorities straight first. How many people will suffer if the budget is in deficit? How many people will suffer if you balance the budget and cut spending to the bone?
Hilton Head Island