We Are Caught Between a Rock and a Hard Place

We cannot deny it. Our nation is caught between a rock and a hard place.   We must stop spending into deeper and deeper debt.  On the other hand, we must keep spending on social programs or there literally will be blood in the streets.  Spending on social security, medicare, medicaid, food stamps, unemployment insurance is increasing beyond the government's ability to pay.

Congress must act, but when Congress acts it is usually in the wrong way.  Our federal government has squandered trillions without helping the economy or putting people to work.  When will President Obama and his administration admit that more spending is not the solution.  Every dollar the government spends is taken from the earnings in the private sector, leaving less money for expansion and creation of real jobs. Right now the worst thing the government  can do is increase taxes.  Keep in mind the talk about cutting taxes is false and misleading.  Extension of the so-called Bush tax cuts in their entirety does not reduce taxes; it only does not raise taxes above present levels.

Once the economy is restored to health -- and that may take years -- we must look for a long-term solution to the out of control social spending.   Unless this is done, soon interest on debt will be the largest expense in our budget.  We could be paying China something like 800 billion a year in interest.