Tuesday, February 08, 2005

The Elephant is Being Ignored

In all of the discussion about the deficit and the 2.7 trillion dollar budget we are not hearing much at all about the parts of the budget that have been created by Republican policies over the last 25 years. The real elephant in the room is that 25 years of Republican government have left this nation 8 Trillion Dollars in debt. We are paying 300 Billion Dollars per year in interest. The current Bush deficit is a spending program in itself and each year of 400 Billion Dollar deficits adds between 10 and 20 Billion Dollars a year of new interest spending. Folks, this is forever, or until we pay it off, whichever comes first. Do the calculations and you will find that the Reagan/Bush deficits are the largest federal spending program enacted since WWII. Guess what we are getting for this spending? Zilch, Zippo, Nada ducky. If you think about it it’s also the largest part of the budget that is untouchable. While Bush’s tax cuts are focused on the wealthy what is really important to understand, is that they shift the tax burden from investment/dividend income to earned income.
What needs to made clear to everyone talking about the deficit is that it shifts the tax burden from wealth to work. Not only are the increasing the current burden on the middle and lower classes they are also irresponsible because they shift a large portion of the tax burden to future generations. Talk about taxation without representation.
We need some serious discussion of where we would be if Clinton’s positive budget had continued, we were not spending 5-6 Billion a month on War, and we had not increased the Pentagon budget by 41% since 2001. If anyone expects the Repubs to raise these points they are living in a fantasy land. We need to bring them forward and frame as the moral issues they are.
The conservative economic agenda for America is hitting its stride and we are in serious danger of pushing the economy into a total collapse. The great social programs begun in 1935 are under serious attack and the time to fight is now.

No comments: