The huge news of the day in this country is the national
debt crisis. No sane person can deny
that the national debt is a serious problem in this country. Our government is borrowing billions of
dollars that we are unable to pay. It
doesn’t take a genius to figure out that if this trend continues it will lead
to financial disaster. Financial
disaster will lead to numerous other problems including most likely a moral
decline of our society (some would say we are already experiencing this moral
decline). I would argue that the
national debt is as much a moral issue as it is a financial one. I believe that our country has finally
accepted the fact that we have a problem.
The question facing the country is what we need to do about reversing
this disturbing trend of increasing debt. The answer to solving the national debt is
obvious but not easy. We have 3
options. We can increase government revenue,
cut government spending, or we can attempt to do both. Most conservatives
contend that we do not have a revenue problem, but we have a spending problem
and we need to make deep cuts in government spending. Most liberals may be willing to accept some limited
government spending cuts especially toward business and people considered rich
or successful, but they contend that we must also raise government revenue
(raise taxes). Both sides are hesitant
to suggest specific spending cuts due to political repercussions. As soon as any spending cut proposals are
offered, the other side is quick to attack.
So here we sit at a stalemate because both sides can’t agree on a
solution. The result is the American
people continue to suffer the consequences.
I understand the difficulty in reaching
an agreement, but I think I have some common sense thoughts and possibly even a
couple solutions.
First of all, let’s take a look at why the increasing
national debt is considered a crisis.
The national debt affects every citizen, but most especially the young
people because they are most likely going to be forced to foot the bill. This really irks me, because the people in
government who have created this crisis will not be held responsible for their
irresponsible actions. Perhaps taxpayers
aren’t completely absent of blame either; we should have been much more engaged
and proactive in monitoring the spending habits of our government. We have freedom of speech and the voting
booth which provided us opportunity to make our voices heard. We are at crisis level because we no longer
have the money to pay off the debt.
Just like the government, families must have to budget. Responsible families do not spend money that
they do not have. As the father and head
of my family, I am very conscience of our ability to pay off our debts. Only in the most dire and extreme situations
(ex. medical expenses) would I consider using my credit card if I knew we would
not be able to pay the debt in full when we got the bill. I follow this principal not because I want to
be cheap, but because I want to be responsible and I know that if we start to
accrue debt we will be in far worse trouble down the road. We might get a short term benefit, but long
term the family will suffer. Sometimes
there are things I would like to buy or things I would like to do, but I know
that I don’t have the financial means to do so and it would hurt not just me
but my entire family. The government
needs to look at the budget as families look at their budget. They should look at taxpayers as if they were
family. If someone in your family gives
you a $20 and asks you to mow their yard, would you spend that money on candy
and then come back and ask for $200 so that you can buy a lawn mower? This would be extremely insulting to the family
member who gave you that money expecting you to use it to mow their yard. Likewise, the government should not be
spending taxpayer money on non-essential programs that taxpayers do not need or
want, and then ask them to pay more taxes so that we can pay off the debt. We pay taxes to the government so that they
can protect our freedoms and provide security.
We are not authorizing the government a blank checkbook so that they can
go on a spending spree and finance whatever special project they personally see
fit. It is not their money. It is the taxpayer’s money and the taxpayer
should decide how it is used. There may
be some well-intentioned programs that the government will have to cut. This does not mean that these programs in and
of themselves are bad, but we cannot afford to pay for all of the programs the
government supports. Not only that, but
how many of these government run programs could be run more efficiently by
local communities or small businesses? The
government is not the answer to all our problems, and in fact it is often the
government that creates many of our problems.
We need some leaders; real leaders who are not afraid to do
the right thing regardless of the political consequences. Each side has their ideal solution, but the
reality is that compromise on both sides will be necessary to reach an
agreement. What do I think we need to do
to solve this national debt crisis?
1.
We need to pass a Balanced Budget Amendment.
a.
Those who oppose a balanced budget say it would
be irresponsible. I say that it is
irresponsible to not have a structure in place to slow and eventually pay off
the debt. Those opposed are also
concerned what a Balanced Budget Amendment would mean for programs that are not
set from year to year such as unemployment benefits especially in a bad
economy. I say include rainy day funds
in the budget to address these concerns.
The government does not HAVE to spend every penny they receive.
2.
Distinguish between essential and non-essential
government programs.
a.
This is probably the most difficult step to
agree upon, but I think there are some criteria that can be used to help us
distinguish what is essential. Most
important is the security of the citizens and the protection of our God given
freedoms. Also essential is education of
our children and certain infrastructure projects. There can be some debate about many of the
other government programs, but we must prioritize where we spend money.
3.
Analyze the efficiency of all government funded
programs starting with non-essential programs.
a.
The government might be well intentioned with
some of the programs they fund, but some of these programs may not be
efficiently run or mismanaged.
4.
Make fair but significant cuts in government
spending after careful review of all programs.
a.
We will not be able to tax our way out of this
debt. We will have to make some tough
decisions, but we absolutely must make some spending cuts if we are going to have
any chance of getting the debt under control.
5.
Review and reform tax laws to address any
loop-holes or inconsistencies.
a.
Some consideration should be given to
eliminating some tax credits if it is determined the elimination of these
credits would have minimal impact on the economy. I would think things such as mortgage
deductions on multiple homes would be an example of a credit that could be
looked at as a possible elimination.
So those are my proposals.
It seems like common sense to me.
Don’t spend what you don’t have. One
thing I know for sure is that doing nothing is not an option. My prayer is that the two sides can come
together on this important issue and make some positive changes. It is immoral to leave this huge financial
burden for our children. So what do you
think? Do you agree with me or do you
have some other ideas? Leave a comment
with your thoughts.
