Home | Classifieds | Place Ad | Public Notices | Galleries | Kudos | Obits | Real Estate | Subscriber Services | Villager | Amazing Grapes | Yellow Pages | Contact Us
The Verde Independent | Cottonwood, Arizona

home : opinions : opinions October 19, 2014


2/11/2012 1:03:00 PM
Letter: Our biggest deficit is one of responsible leadership

Editor:

Awareness of our nation’s skyrocketing national debt was brought into focus last summer as we witnessed the Congressional debate (debacle) over raising the debt ceiling from $14.2 trillion to $16.2 trillion.

In 1978, federal debt finally reached $1 trillion. It took 20 more years to reach $5.5 trillion, and only another 10 years to double to $10 trillion.

As our spending spree accelerated in 2008, the debt surged to over $15.5 trillion. This is well over 100 percent of total gross domestic product, a level which many economists believe will cripple our economy, and if not brought under control, could eventually lead to default. To date, neither the President nor any Republican candidate has clearly defined how they will reduce the debt.

A budget surplus is required to reduce the debt. FY 2011 federal expenditures totaled $3.9 trillion, over $1 trillion more than received in taxes, etc. In order to reduce the debt by only 2 percent, Congress needs a budget surplus of $300 billion, which would require a 33-percent reduction in spending to $2.6 trillion for one year. Reducing the debt will be painful and will require strong leadership, but who will provide it?

Skyrocketing national debt and the trillions of new dollars being printed each year will have the same effect on us in the near future as it is having on Europe today. More jobs will be lost, taxes will be raised, and pensions cut in an effort to bring the budget back into balance. Wall Street and the banks will continue to prosper with our bailouts. Enough is enough. Our biggest deficit is one of responsible leadership!

David Haskell

Cottonwood



    Most Viewed     Recently Commented
•   Yavapai deputy involved in shooting - suspect dies (1503 views)

•   'Puppy dumper' wants lower bond, plea deal (1094 views)

•   Convicted kidnapper, child molester shaves 7 years off prison sentence (1052 views)

•   WWII remains of Clarkdale man returned to Arizona (646 views)

•   Finally home: Recovered remains of Clarkdale World War II veteran laid to rest (628 views)



Reader Comments

Posted: Monday, February 13, 2012
Article comment by: bob grant

the big problem is when people claim to be leaders ,but in reality they have signed an agreement out side of their elected office to follow instruction from a person not elected.The repubs who signed with the no tax ever ,and any of the bought and paid for by corporate $$ these are not leaders.PRESIDENT OBAMA has been trying to lead but with a corrupt congress blocking no matter what .The system is not working !
You can not steer a vessel with opposing rudders!!!


Posted: Sunday, February 12, 2012
Article comment by: Slater Slater

Trivial,it's just cost overruns DAH!!

Posted: Sunday, February 12, 2012
Article comment by: Peter, Yavapai County

Thank you, David. This is by far the most important issue. However, going from $3.9 to $2.6 T means reducing spending by 1.3 trillion per year. That's $1300 billion in cuts per year. To my knowledge, even the most fiscally conservative politician hasn't shown how to accomplish this with real, itemized cuts to actual current spending.

Posted: Sunday, February 12, 2012
Article comment by: Great points

Great points made by Mr. Haskell, and one that most Americans probably agree with.

No question our country is headed in the wrong direction under the leadership of Barack Obama.

Fortunately, we as voters can do something about it in November.




Article Comment Submission Form
Comments are not posted immediately. Submissions must adhere to our Use of Service Terms of Use agreement. The email and phone info you provide will not be visible to the public. Rambling or nonsensical comments may not be posted. Comments are limited to 1700 characters or less. In order for us to reasonably manage this feature we may limit your comment entries to five(5) per day.
Submit an Article Comment
First Name:
Required
Last Name:
Required
Telephone:
Required
Email:
Required
Comment:
Required
Passcode:
Required
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.
   


Advanced Search

HSE - We want to hear from you
Find more about Weather in Cottonwood, AZ
Click for weather forecast


Submission Links
 •  Submit your feedback about our site

Find It Features Blogs Celebrate Submit Extras Other Publications Local Listings
Classifieds | Place Ad | Galleries | Kudos | Real Estate | Subscriber Services | e-News | RSS | Site Map | Find Verde Jobs | Contact Us
© Copyright 2014 Western News&Info, Inc.® The Verde Independent is the information source for Cottonwood and Verde Valley area communities in Northern Arizona. Original content may not be reprinted or distributed without the written permission of Western News&Info, Inc.® Verde News Online is a service of WNI. By using the Site, verdenews.com ®, you agree to abide and be bound by the Site's terms of use and Privacy Policy, which prohibit commercial use of any information on the Site. Click here to submit your questions, comments or suggestions. Verde News Online is a proud publication of Western News&Info Inc.® All Rights Reserved.

Software © 1998-2014 1up! Software, All Rights Reserved