Creative Destruction and the Federal Deficit

February 17, 2011 05:49

Cuts of $100 billion are not even a good start yet such cuts may be all that is politically possible at this point. Such a political reality sets the stage for the disaster that is sure to follow.

By Frank Ryan at American Thinker


When combined with the exploding state deficits and other unfunded liabilities, the debt crisis will begin to unfold rapidly and unpredictably for our citizens. A national disaster is in the making.

The issues facing our nation are profound and made more so because of the constraints of our aging population, the coming retirement of baby boomers, the decline in education quality and a voter turnout of less than 30% in the 2010 elections does not bode well for reform.

The $100 billion in cuts may be all that is palatable to the electorate right now.  Unfortunately, this token cutback is not sufficient to stop even one month worth of excess spending.

If no one is willing to accept change or cut backs then all cuts will be cosmetic in nature and not yield substantive results.

Every department must be viewed and waste eliminated.

Without the steps above enacted in a timely manner, the turnaround will not work. The failed turnaround is marked by a situation in which the solution is forced upon us. I fear that is where we are headed.


Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere:

Interested In Further Reading? Click Here