November 4, 2011
Seniors need to vote for children
Our politicians saddled them with crippling debt
Advertiser

AMERICANS, like Europeans, have been living in a politically constructed fantasy world.

Sympathetic, smiling glad-handers politicians seeking re-election have promised us generous benefits.

All the while, of course, they have been saddling us with fatal levels of debt.

The Congress of the United States has run up a public debt of almost $15 trillion.

That's $48,087.91 worth of debt for every man, woman and child in the country.

Actually, it's worse than that.

The phrase "outstanding public debt" doesn't include the projected cost of gargantuan programs like Social Security, Medicare and Medicaid.

As economics professor Lawrence Kotlikoff explained on National Public Radio in August, add in the cost of those programs, and Congress has obligated Americans to pay $211 trillion for the benefits that, understandably, they don't want to give up.

Ridiculous.

We've been had, and we have nobody but ourselves to blame.

We let smiling politicians do this to us - and worse, to our children.

We watch with detachment the meltdown of the European countries whose politicians have played the same game, but we shouldn't take any comfort from distance.

Unless Americans set a new course, this country is going down, too.

Members of Congress, unable to agree on fiscal matters earlier this year, invented a kind of budgetary blunderbuss with which to threaten themselves:

If the current supercommittee of Republicans and Democrats can't agree on budget cuts by Nov. 23, the day before Thanksgiving, they will make automatic cuts to all federal programs, including defense.

Except, at Democrats' insistence, entitlement programs.

Again, ridiculous.

Bloomberg News, Oct. 31:

"Social Security and Medicare, the major entitlement programs for the elderly that together cost more than $1 trillion a year and account for a third of the budget, are exempt from the automatic cuts, which would be split between defense and domestic programs."

Against this backdrop, what should come in the mail but another missive from the American Association of Retired Persons.

Recommended Stories

Copyright 2011 . All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Popular Videos
The Gazette now offers Facebook Comments on its stories. You must be logged into your Facebook account to add comments. If you do not want your comment to post to your personal page, uncheck the box below the comment. Comments deemed offensive by the moderators will be removed, and commenters who persist may be banned from commenting on the site.
Advertisement - Your ad here
Get Daily Headlines by E-Mail
Sign up for the latest news delivered to your inbox each morning.
Advertisement - Your ad here
News Videos
Advertisement - Your ad here
Advertisement - Your ad here