Letters to the Editor

Your views in 250 words or less

POLITICS: Both parties must share the blame

Letter by Donald J. Fritz, Tacoma on Jan. 5, 2011 at 1:23 pm | 53 Comments »
January 5, 2011 2:22 pm

Many letters to the editor seem to want to blame one major political party or the other, but both parties carry a big share of the blame for the huge financial hole that the U.S. is now in.

Both deserved credit, however, for the huge paydown of national debt that occurred in Clinton administration budget years 5 through 8 (U.S. fiscal years 1998 through 2001), when Bill Clinton was working with a Republican Congress. Since January 2001, there has been a total lack of fiscal responsibility by both parties (eight years of Republican administration, two years of Democratic administration, six years of Republican Congress and four years of Democratic Congress).

Also, the 2008 financial system meltdown derived from financial industry deregulation legislation passed in 1999 and 2000 – again, the responsibility of both parties.

Now the Republicans have a laudable (laughable?) target of reducing federal government expenditures by $100 billion per year, which not only will be insufficient to balance the budget but will not even be sufficient to end the era of trillion-dollar budget deficits.

Soon annual interest due on national debt will reach the level of $1 trillion. Paying interest does not employ one government worker, fill one pothole in our rotting public infrastructure or even buy one paper clip.

Who can we vote for to bring sanity to government?

*
The News Tribune now uses Facebook commenting on selected blogs. See editor's column for more details. Commenters are expected to abide by terms of service for Facebook as well as commenting rules for thenewstribune.com. Report violators to webmaster@thenewstribune.com.