Neither Party is Serious about Fiscal Responsibility

For the last two years, Republicans have lambasted the President over the deficit spending that he and the Democrats in Congress have pushed.  There is no question that such spending has been reckless given our national debt.  But it is hard to take seriously when their solution is nothing more than a regurgitation of the Bush (43rd) Administration fiscal policy.

Anyone in business realizes that when you are running a deficit, there are essentially three ways to get out:  either you increase revenues, decrease expenses, or engage in some combination of both.  It isn't any more complicated than that.  And yet, neither party is willing to engage reality and make the hard policy decisions that are required.  And for which the American public has for the last two years, begged.

The Republicans just last week put out their new "Pledge to America."  It sounds good, and for the most part, I like what it has to say, but on the most important issue, the economy and deficit reduction, it rings hollow.  There is no serious discussion in it about actually reducing the deficits.  Of course, they want to allow the Bush tax cuts to remain in effect, and they would like to cut discretionary spending, but for much else, they are silent.  I am ashamed to be a Republican supporter when they publish such a cowardly position.  There is no discussion about resolving problems with the entitlements (Medicare, Medicaid, Social Security), there is no talk of looking at the defense budget, and there is no talk about revising the tax code.  That is about 90% of the budget that they have not discussed, and no way to pay for it.

Let's be clear, though.  It is better than what the Democrats have proposed.  They want to increase taxes on only a very small portion of the rich, while spending two and three times more on everything else.  That's like taking a weekend job earning minimum wage and hoping to use it to finance a yacht.  The Democrats' plan is spend until it is someone else's problem.

At some point, someone is going to have to propose a serious discussion about how to solve our problems.  We need to look at the defense budget and decide just what we need to defend our country.  There are a lot of good things that our military does that have nothing to do with national defense.  And as great as those programs may be, we simply can't afford them.  Entitlements are going to have to be cut.  You can say it any way you like, but the bottom line won't change, so there is no sense beating around the bush.  And the tax system needs to be overhauled.  Right now, we are punished for success in having an income tax.  Either move to a flat tax system that is fair for everyone, simpler and encourages less cheating, or scrap it in favor of a system based on consumption.

It is disappointing that we have an election coming up, and there is no real choice that makes sense.  Either our leaders have to step to the plate and make the tough decisions, or else we need to make the tough decisions for them by sending them home.