Mort Zuckerman: Political Leaders Must Deal With the National Debt or Future Generations Will Pay

March 5, 2010 RSS Feed Print
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None of the imperatives will be politically popular unless our leadership can persuade the country of how necessary this is.

We simply have no choice but to think about programs that will give us the chance to gain control of our eco­nomic future. It will require real leadership and inspiration to persuade people to do what they know they have to do, even though they instinctively won't like it.

Our political leadership—both parties—is evading these central budgetary problems. Washington keeps fighting for narrow partisan advantage while critical national problems remain unresolved. So far, the politicians have failed to explain how we are going to address our future debt and accept the limits of what the federal government can do. If they fail, we will be saddling the young with huge debts and immense taxes, and the American ethic of believing in a better future for our children will be in jeopardy.

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I am also self employed and view social security as a slap in the face to those who actively produce and make money only to have it siphoned away. Let me use my money the way I want, to invest it and save for MY retirement. It would work a hell of a lot better than the insane system in place now.

Sam of TX 9:08PM April 12, 2010

Of course “Entitlements” are out of control and will bankrupt this country, but who in Congress cares for the pragmatism that once characterized the American scene. They are about to pass an absurdly complex healthcare bill when most Americans are smart enough to know is simply a way of sticking the taxpayers with the absurdly expensive benefit promises made to employees in government and labor-dominated industries. But their a few things we could actually do to reduce these costs. For example:

1. Every child has a father and 1.6 million illegitimate children have parents. If the mother wants any entitlements she must name the father and if a $15 DNA test proves her correct, then from the government’s view they are married and both parents must guarantee to the court that this child will not become a burden on society. In other words, put a little personal responsibility and a few consequences back into society and stop rewarding lust by sticking us all. As my brother in law said of his older sister, “every time she wanted another $115, she’d visit the local bar, but sadly none of her 11 illegitimate children became useful citizens”.

2. Clean up the legal profession, so lawyers like John Edwards can’t use junk science to get rich by appealing to the compassion that juries often have for the injured. With some major changes we wouldn’t have 30 to 40% of our healthcare dollar going toward defensive medicine.

3. Get politics out of education. It didn’t work in Nazi Germany. It was a disaster when Stalin decided Lysenko‘s ideas should be those of the Soviet State.

4. The way grant funds are awarded encourages disaster projects like “Global Warming”. Change it so that researchers can investigate the unknown or at least the interesting rather than what looks good and appeals to the others in a small niche.

Just the above four suggestions might end such total absurdities as “OctoMom with her 14 entitlement children that must run about 10 million a year in healthcare costs.

Bob Nelson of OR 10:57PM March 11, 2010

Jefferson stated that every few generations a revolution is required. I think one is going to be forced upon us. When the economy collapses, as it must, people will be up in arms to restore order in society. The question will be whether it recreates itself anew as a beacon of liberty as the Founding Fathers hoped, or whether Lenin will have finally hung America with its own rope!

Yes, we still have time to save America. But only if we do it now. Every step closer to the edge of the precipice, makes it that much harder to get back to safe ground.

I would love to see a smart and honest economist, such as Mort, running for president in 2012. However, I think too many Americans are so addicted to the current system that they want everything cut, except their own entitlements. I'm at the end of the Baby Boomers, and if it will save America, I'm willing to surrender my Social Security to pay down the debt. However, I'm not interested in doing it, while this Congress and President hold onto the purse strings and can spend it elsewhere.

As a person, I like President Obama. As a president, he has turned out to be an idealogue, when we really need a pragmatist. Mama said the nasty tasting medicine would fix the consumption, but only if you take it. President Obama and Congress (as well as Pres Bush before) are big spendthrifts that hurt our nation. I love what America used to stand for. I hope we can reclaim the good it used to be.

Gerald Smith of IN 5:00PM March 09, 2010

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