Skip to main content

Debt & Deficit

Let's deal with this before the U.S. (and don't tell me it can't happen here).

First, separate this into two issues: the current deficit, and the accumulated debt.

The deficit should be dealt with through massive spending cuts.  Entire government agencies - at the cabinet level - should go.  If you've had experience in a company, charity, church, local or state government, school district, etc. then you very likely know one thing: to get real cuts, first the frills must go.  For employees to accept pay cuts and still give 100%, the corporate jet has to go.

Same here.  The Acorns and Planned Parenthoods must go.  This isn't about whether or not they are effective.  We are broke, and therefore can't afford frills.  Then you move to the tough  stuff, and larger amounts.

The goal would be to cut at least a trillion from current spending.

Then, on to the accumulated debt.  There tax increases are required.  Conservative buddies, I know you hate this.  But it is math.  The taxes should be very broad.  All those lower-earning citizens that are currently below the minimum need to come back into the tax system, even if the rate is 1%.  Everyone needs some skin in the game. 

That is the compromise that should be reached.  Current cuts to balance current operations, long-term tax increases to deal with a problem built up over years.
Enhanced by Zemanta

Comments

Popular posts from this blog

Book Review: What Matters Now by Gary Hamel

Interview of Eric Schmidt by Gary Hamel at the MLab dinner tonight. Google's Marissa Mayer and Hal Varian also joined the open dialog about Google's culture and management style, from chaos to arrogance. The video just went up on YouTube. It's quite entertaining. (Photo credit: Wikipedia)Cover of The Future of ManagementMy list of must-read business writers continues to expand.Gary Hamel, however, author of What Matters Now, with the very long subtitle of How to Win in a World of Relentless Change, Ferocious Competition, and Unstoppable Innovation, has been on the list for quite some time.Continuing his thesis on the need for a new approach to management introduced in his prior book The Future of Management, Hamel calls for a complete rethinking of how enterprises are run.

Fundamental to his recommendation is that the practice of management is ossified in a command and control system that is now generations old and needs to be replaced with something that reflects an educat…

Add This Great Work to Your History Bookshelf

Team of Rivals: The Political Genius of Abraham Lincoln (Photo credit: Wikipedia)
The more I study American history, the more I realize how little I really know. I just completed Doris Kearns Goodwin’s Team of Rivals in which she explores the inter-workings, personalities and politics of the Lincoln administration.Every American schoolboy or schoolgirl knows that Lincoln presided over the most difficult period in American history save the George Washington era.Most know that he struggled with a series of second rate generals until Grant emerged. And that he was tragically assassinated just as the War Between the States ended. But how many of us know that many of the cabinet members opposed Lincoln in the primary?That many of those thought he was unqualified for the office?That one of them – Salmon Chase – actually tried to build support to oppose Lincoln in the 1864 election?Or that Lincoln’s opponent in 1864 was former General McClelland, who so famously failed to take advantage of his…

New Research on How to Use Exercise to Grow a Bigger Brain

The Good News We’re swamped with research on how to grow and maintain a bigger brain into old age. Much of the research emphasizes exercise as essential to brain health at every age. Here’s a summary of relevant baseline research, then we’ll move to some new, interesting and thought-provoking research. Background Dr. Carl Cotman and Dr. Nicole Berchtold of the University of California Institute for Brain Aging and Dementia performed research on aerobic exercise and brain health. Cotman and Berchtold concentrated on “brain-derived neurotrophic factor” (BDNF). Because, in their words “it supports the survival and growth of many neuronal subtypes, including glutamatergic neurons”. In our (very) layman understanding, BDNF is a protein that helps nerve cells do, well, a lot. Grow in particular, as well as get stronger and avoid premature cellular death. Cotman and Berchtold learned that the act of consistent exercise increased levels of BNDF in the hippocampus. This finding was important, b…