FEDERAL DEFICIT SPENDING...
WHERE DO WE GO FROM HERE?
March 12, 2012
The strength of our Country: it was built from the bottom up, not from the top down. We did not start with a king or a queen but we started with the people. No wonder, the Preamble to the US Constitution begins with these words "We the People of the United States."
In the minds of many of our neighbors, the number one concern in America is jobs, job security, and a pay check. And, seniors on a fixed income are equally concerned. Secondly, Americans are increasingly restive over the national deficit. People are deeply concerned when we are borrowing more than forty cents on a dollar and borrowing much of that from China and from the American people. And, we are sending the bill to our children and grandchildren. These are matters of great concern. The state of the economy and the future of generations to come are on the minds of most Americans. Currently. there are many in leadership who appear to be out of step with the kitchen table concerns of the American public. Desperately, we are in need of wise, thoughtful, and strategic leadership.
I remember well the days of the Presidency of John F. Kennedy. At that time...the early 1960's... just over a quarter of federal sending went to fund programs for some 21.7 million needy Americans. That was 1 in 9 receiving federal assistance. Many realized that was a worthy investment; prudence and due diligence in governmental administration was the watch word. And now today, what a contrast...federal spending has virtually exploded. One in every five Americans--more than 67.3 million-are dependent on federal assistance. Dependence has almost become the norm. Today, a full 70 percent of the federal budget, as compared to 25 percent in the 1960's, goes to pay those who are in need and are dependent. This expenditure is perilously spiraling out of control at a time when our slow-growth economy is struggling to keep afloat.
Succinctly stated, according to the latest economic figures, government dependency jumped 8.1 percent in just the past year. In fact, the federal government spent more taxpayer dollars than ever before in 2011 to subsidize Americans. The average individual who relies on Washington could receive benefits valued at $32,748; that is more than the nations's average individual disposable personal income of $32,446. And to make it even more shocking, nearly half of the U.S. population, (49.5) does not pay any so called "federal income tax." When one looks at these figures and realizes that in the next 25 years, more than 77 million baby boomers will retire. They will begin collecting checks from Social Security, drawing benefits from Medicare, and may rely on Medicaid for long-term care. The realization of these figures is a matter of startling concern. Again, we reiterate, 70 percent of the federal government's budget goes to funding programs supporting Americans who are dependent upon the government.
With the growing number of Americans about to reach retirement age, we are about to witness the largest retirement of working people in history. And, along with the increasing number of "taxpayers" who pay no federal income taxes (as such) continuing to grow, the stability of our struggling economic structure gives rise to grave concern. We need to find ways to reform entitlement programs like Medicare and Social Security so that they are viable for our current seniors and feasible for future generations without bankrupting our Country. America must gain control over its more than 15.2 trillion dollar exploding national debt. As reported from the "National Debt Clock," the estimated population of the United States is 312,223,109
so each citizen's share of this debt is $49,222.71. In 2010, the United States accumulated over $3.5 billion in new debt each and every day. Thatís more than $2 million per minute. That is an alarming amount. America's national debt has reached a worrisome and parlous milestone; point of fact, our national debt is now as large as the entire national economy. I am aware that there are those who will not agree with what we say here. But, facts are facts, and there is just not any two ways around that.
We are in need of dramatic economic growth. We must find needed entitlement reforms. And further, we must embolden our faith-based organizations, charities, local groups and private -sector initiatives to find imaginative ways for the empowerment of all individuals within the total population spectrum. Most of all, It is incumbent for each to work toward the protection of the American Dream that "each may become all of which one is capable of being." All individuals want to find success. Each of us can help to make that happen for ourselves and for our neighbors. It was Henry Ford who said "If you think you can do a thing, or think you can't do a thing, you're right." At any rate, Henry Ford's down-home logic "I think I can" makes good sense and is certainly a good place to start. And that is how I see it FROM THIS PERSPECTIVE.