America's Debt
The widely reported National Debt of 19 Trillion in America is only part of the fiscal problem. Much larger issue hangs over the country termed "Unfunded Liability"; which we fill face sooner rather than later (due to retirement and healthcare costs of baby boomers). Additionally there are two debt burdens (equal to Federal National Debt) that are owed by US Corporations and Individuals (credit card). Difficulty solving various debt burdens is closely tied to America's model of "consumer economy" and 2/3 is individual consumption. Every effort is made to drive consumption including "easy money", encouraging both parents in a household to work (often at or just above minimum wages); subsidized with free day care and pre-K (for children) or free nursing care (for parents). This creates more employment and adds to various debt burdens; and destroys the individual (with stress), family and society as we knew it. On the expenditure side is the military. It takes 40% and in Michael Moore's movie (Where to Invade Next) it is 60% of the national budget. This depends how the defense cost is calculated. According to reports, since World War II, of the 50 foreign conflicts that US was involved, only one was justified - the first three weeks in Afghanistan to end Taliban / Al Qaeda rule. On the revenue side, much could be gained if all the corporate and personal subsidies and tax loopholes were ended. Clearly the dictum is "Money for Taxes or Political Contributions - but not for both." Politicians and news media, despite pious pronouncements not surprisingly, choose campaign contribution. Campaign contribution in presidential election is only a small part of political contributions. Hence dealing with National Debt is easier than projected if we have the will and commonsense to do it right. Feedback welcome! Regards, GL
