America's Debt Crisis Will Kill Us 4/26/2010

 Today's (4/26/10) Indianapolis Star announces the danger of the deficit and President Obama's bipartisan commission. I have a few thoughts this morning.

First, the article says that increasing income may be harder than in the past because the economy is not adding as many jobs. What about not numbers of workers, but increasing the value of whatever is produced so that there is a rise in wages?

Second, everyone better get ready for something to be cut. Figure out how to do more with less. I did it for 22 years in private practice, and now so can you. We do not need to spend what we spend on our military to keep us safe. Time to look at prison reform, too. (Yes, I know a bit of self-interest there, but damn it I am learning things I ought to have known but did not.) Everybody needs to read or re-read Paul Kennedy's The Decline of Great Powers. 

Third, everybody better get used to new taxes - either of a new sort (VAT) or new categories (services) or more of the same (increased rates or changing exemptions), or all of the above. You will need to take a look at legalizing marijuana (more on that another time).

I suggest everyone, whether you be bitching or advocating or both, justify their bitching or advocacy by listing the problems and/or benefits of whatever it is you want or do not want. Reason among yourselves. Repeating slogans is not reasoning, it is not even reasoning. Of course, the incarcerated do not pay taxes.

All this gives me a chance to say some things I have been wanting to say since October 2008 (approximately). Thank George W. Bush for creating a movement for world government that will probably succeed. This article confirms my suspicion that the bank bailout was probably beyond our national means and will lead to a global bank regulatory system. From that will come a world government. Thanks, G.W.

sch

[I thought to skip this one, but then I thought it really shows my lack of talent for prophecy. We did rise to the challenge. The world did not turn on us for creating the Great Recession. Taxes were cut under Trump. In Russia and China, we do have a reason for our military spending. However, wages have not risen as much they might have and as some still want. Remember, these are all me shooting my mouth off, getting things off my chest and out of my mind. sch 10/9/22.]