National Debt / Deficit Meltdown — Maybe kicking the can down the road is the better path + an idea

The smell of financial meltdown is in the air.

We stand at the threshold of maxing out our national credit card and there is absolutely no plan that has been presented to the public that seems to really make economic sense — mostly because no one wants their sacred cows touched.

>> A tax deduction for the interest on your home is not much different than helping someone that lives in subsidized housing. Welfare is welfare.

I almost agree at this point that kicking the can down the road could be a desirable outcome.

My logic is that it really is too late now for there to be any comprehensive plan. A short term bandaid plan that drops the need for decision prior to the 2012 elections only serves political purposes, it doesn’t matter what party you support.

Kicking the can down the road has the beneficial effect of guaranteeing that bad things will happen to good people. Hopefully it will sober them up enough that they will empty their heads of all the partisan crap. Then perhaps they will try to think a bit more critically about the situation and to think a bit more objectively.

Whether Left or Right, reality is that neither side is anywhere near agreement — not even among themselves — as to what should be done.

Politics are just economics draped over other issues. It is always about power.

All or nothing works no better at one end of the fringe than the other.

If we respected the average taxpayer we would ask them to choose the plan that they believe we should pursue. Let’s hold six months of public debate, critiqued by both citizens and academics, and then let’s hold a referendum.

Let’s let Americans choose by line item vote in a referendum what goes and what stays or what changes.

If we truly believe in ‘We the People’ then let’s let Americans decide their future and their fate.

What say ye?



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5 responses to “National Debt / Deficit Meltdown — Maybe kicking the can down the road is the better path + an idea

  1. George S. Harris

    Supposedly “We the people” put 535 well paid representatives in DC to do just what you have suggested. “We the people” are reaping the benefits of our ill-advised actions whether we like it or not. As far as, “Let’s let Americans choose by line item vote in a referendum what goes and what stays or what changes.”, I would say you have far more faith in the American public than I do.
    While I am a political neophyte, your plan sounds awfully Libertarian to me.

    • Yes, we have 535 representatives.

      The House of Representatives have already voted to adopt “Cut, Cap & Balance”, which the Senate rejected just today.

      Our government is at an impasse. The ONLY bipartisan approach has been the Gang of Six’s proposal and it has almost no chance at all of being considered because it has not even yet been written up into some form of legislation, put into committee, AND it has no similar supporters in the House — and funding bills begin in the House.

      So we are at an impasse. The electorate seems to be divided almost down the middle.

      We are either about to default — which is the fault of all sides — or we need some form of kicking the can down the road. But the debt will continue to mount either way and at a much steeper rate. The larger argument is about getting something for (almost) nothing.

      Since our 535 representatives cannot decide on how to carve up the pie then perhaps those hard decisions need to be made by the American people in a referendum at the line item level.

      I would suggest that Congress also attempt this but obviously no one wants to step forward and to risk this because it puts their name squarely with an up/down vote on very specific cuts or increases in debt or expenses.

  2. Nick

    It’s a great idea, but I doubt we could come to any consensus. One need only look to California to see the results of government by plebiscite.

  3. George S. Harris

    I would certainly agree that we are at an impasse and am interested to see what the president’s “woodshed” session will do tomorrow. I found President Obama’s press conference today very provocative. And I also think that there is more blame on the right because of their absolute intransigence. I don’t think they have a clue of the ramifications of their actions, particularly the Tea Party folks.

    I don’t believe the “American people”, however defined, could do what you are recommending. The number of oxen that would have to be gored is incalcuable. And such an effort would bring total paralysis or, conversely, the rich would decide what goes or stays since they will have the financial capability to influence how things are decided, just as they do now.

  4. Phyllis Coletta

    We the People created this mess, in particular “we the people” 50 years old plus. We have been selfish, greedy, self-centered, and short sighted. We created a monster, let the politicians do whatever they wanted for decades and now have bankrupted our children and grandchildren.

    I say the whole damn thing needs to fall apart. Do NOT raise the debt ceiling and take the heat and political fallout from cuts to entitlement programs. This is our problem and if we don’t suck it up and take responsibility now our kids will be in even worse shape.

    I’m an Independent and I voted for Obama – another precious vote wasted on a politician. I am enormously grateful for the tea party because they are responsible for waking us all up and putting the brakes on spending. If it wasn’t for them, the Dems would still be spending like drunken sailors and as long as our entitlement checks were coming in, we wouldn’t care less.

    If the government falls to pieces – we can only hope – maybe communities will step up again and help those who need help. Find a military family that needs groceries, look out for an older neighbor who needs rent money – it would take about two weeks with politicians with their hair on fire – and then we’d have change for good. We deserve this. We the People created it.

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