Saturday, December 4, 2010

Cutting the national debt

This article in the Sun states,
Bowles and Simpson call for a wide range of cuts, including in Social Security, Medicare and the Defense Department. They suggest overhauling the tax code to reduce rates while eliminating many loopholes. And they also call for raising the gas tax to pay for roads.

Why aren't they suggesting the elimination of some ot the regulatory agencies which can create laws in violation of the Constitution? The Constitution says that only congress has the power to legislate.

It also states,
During the Bush administration, for example, the nation entered two wars, and the Republican Congress went on a spending spree — on credit. Republicans also pushed tax cuts, as they are doing now, but trickle-down economics doesn’t work — it has only added to the debt.

This statement is illogical. Just because the national debt increased during the Bush administration doesn't prove that tax cuts don't work. What it does prove is that increased government spending increases government debt.

Here is a novel concept. Control government spending. However, our politicians don't want to do that.

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