Letters to the Editor

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DEBT: We all have to bite the bullet

Letter by Ora Clark, Federal Way on Nov. 22, 2011 at 2:13 pm with 8 Comments »
November 23, 2011 9:27 am

I lived through the crash of 1929. At that time the national debt was $17 billion – $160 for every man, woman and child. Today’s national debt is $14.5 trillion – $41,000 for every man, woman and child.

Add to this the fact that the U.S, government has more than $50 trillion in unfunded liabilities – more than $120,000 per person person. If those figures don’t scare the hell out of you, I don’t know what will.

You and I dug this hole, and you and I will have to dig ourselves out of it. The only solution is to reduce spending across the board and raise taxes. I don’t like it any more than the next person, and I will be among those who suffer on both counts.

People believe times were terrible following the crash of 1929. You ain’t seen nothin’ yet. I don’t expect to live to see the one coming around the corner if action is not taken rapidly. I dread the thought of my grandchildren living under Third World conditions.

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  1. lylelaws says:

    Ora,

    Great letter,Ora. You are right on target.

    If we don’t begin making meaningful changes soon it will be too late, and as you have pointed out everyone has to share in the sacrifice.

    If everyone in America had to take a 10% cut in income and services it wouldn’t be a picnic, but we would still have about the highest standard of living of any country in the world and we might be able to avoid the financial collapse that will certainlly occour if we don’t face reality.

  2. old_benjamin says:

    There’s another solution. Cut the waste from existing spending. There’s an estimated $100 billion in just Medicare waste, faud and abuse alone. There’s no reason to think that other guvment programs are run any more effectively. What we need is a CEO that will come to work and say “What guvment program am I going to kill today?” Newt is the most likely candidate for the job. It will be painful, but it beats the alternative–bankruptcy–by 27 lengths.

  3. Ora – EXCELLENT LETTER! Only one problem, a day late and $40K per person short.

    If you want to find the root cause of the deficit, look no further than unfunded wars in Afghanistan and Iraq. You’ll agree with me, because you are part of the generation that lived on rations during WWII to help fund the war effort. Not knowing if you are female or not, but women sacrificed silk garments so that solider could have parachute materials. Gasoline, meat and other consumables were rationed also.

    If you and I are to blame for this condition, the blame is allowing elected officials to lie to us about reasons for war and then watch them set up sweetheart deals with their cronies that supply the military the tools of the trade.

    All this with tax decreases and no sacrifice.

    Today, the conservatives will tell you that if you just live on less Social Security and don’t spend so much at the doctor, you can make up the whole that they created by lining the pockets of businesses that love to make war.

    Good deal, huh? We know you don’t mind the sacrifice.

  4. I feel picked upon as I never had a shovel in my hands.As for taking a 10% cut in pay,I could do that if I stopped eating and stopped buying my needed medicines,but like lylelaws writes,we all have to share in the sacrifices,Some more than others.

  5. sincere, I’m still waiting for Halliburton, Blackwater, etc, to share in the sacrifice.

    Rather ironic that someone could give away $9 billion in Iraq and retirees just need to sacrifice a little more to pay off the damage.

  6. It is very hard to,Bite The Bullet,when you find all your teeth have been pulled!

  7. LarryFine says:

    Kard98514, you’re not really saying no debt has incurred before or after the Afganistan and Iraq war… are you ?

    Would someone kindly pick up the needle….that record has been stuck for a very long time.

  8. aislander says:

    Nice fantasy, RW, but the cost of both wars comes nowhere near to explaining the huge deficits we’re running.

    Total cost of both wars since inception according to the definitely-not-right-of-center costofwar.com website: less than $1.3 trillion over ten years. That is less than $130 billion per year.

    We’re looking at a budget deficit of over $1.65 trillion, so the cost of the wars is less than 10% of that.

    Your math just doesn’t add up, RW…

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