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Spending is our problem, not our revenue

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Posted: Saturday, October 20, 2012 12:00 am | Updated: 6:34 am, Sat Oct 20, 2012.

It is Oct. 20 and you have run out of money. You have two choices: Suck it up until payday, or get a loan. If you get a loan, you have to pay it back.

Now the state of California and the United States are out of money, so they get a loan. There is an exception here, though — they don't have to pay it back. You, or "we the people," have to pay it back.

Let's say you can go to Bank of America tomorrow and borrow a trillion dollars — except you don't have to pay it back, your neighbors and friends have to pay it back for you. Do you say, "Well, OK, let's get another trillion,"?

What happens when you are given money with no responsibility on what you do with it, or to pay it back?

In November, Jerry Brown has a tax increase on the ballot. Send them a "NO" message.

Do you remember the song in "The Sound of Music," "I Am 16, Going on 17"? Well, the United States is $16 trillion going on $17 trillion in debt. You can actually sing it to the tune: "We are 16, going on 17 trillion dollars in debt."

The problem with this is that the people borrowing the money not only don't have to pay it back, they probably will be long gone when it does, and they have provided no leadership or ideas on how to pay it back.

Once and for all, we don't have a revenue problem — we have a very bad spending problem.

Dennis Vetica

Lodi

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Welcome to the discussion.

4 comments:

  • Jerry Bransom posted at 1:50 pm on Sun, Oct 21, 2012.

    Jerry Bransom Posts: 363

    And Romney will do no better. Vote for Gary Johnson.

     
  • Andrew Liebich posted at 12:28 pm on Sun, Oct 21, 2012.

    Andrew Liebich Posts: 2999

    The $831,000,000,000 economic “stimulus” that President Obama spearheaded and signed into law requires his administration to release quarterly reports on its effects. But “the most transparent administration in the history of our country” is now four reports behind schedule and has so far not released any reports whatsoever in 2012. Its most recent quarterly report is for the quarter than ended on June 30, 2011.

    The Obama administration is now in violation of the president’s most prominent piece of legislation this side of Obamacare.
    [sleeping]

     
  • Thomas Heuer posted at 10:53 pm on Sat, Oct 20, 2012.

    nth degree wise Posts: 1520

    Its always interesting to hear slogans once said 30 years ago by Reagan ("we don't have a revenue problem we have a spending problem") still being used by wanna be lil Reaganites (or is that ditto heads). That it would be used in this day and age to describe our current economic situation misses the point that YES indeed we have both a spending problem as well as a revenue problem since the bottom dropped out of the whole economy.

     
  • Joanne Bobin posted at 11:07 am on Sat, Oct 20, 2012.

    Joanne Bobin Posts: 4488

    Like spending 5 trillion dollars on additional tax cuts for the wealthy, further cutting the low, low capital gains taxes that Willard Mitt Romney and his cronies pay (and somehow claims he has ALREADY paid corporate taxes on the money he earns from investments - tell me how that works) and eliminating the estate tax that mostly extremely wealthy persons pay?

     

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