Debt Crisis

            We can't turn on the TV or the radio these days without hearing about the debt crisis that threatens to consign our grandchildren to the poorhouse. Everyone agrees that something has to be done. Yet, no solution is possible under the circumstances. And by circumstances I mean a government split into parties, wings, movements, coalitions, factions, and caucuses, all with good intentions overridden by the necessity of achieving or remaining in power.

            Instead of taking bold action to fix the problem, Washington is mired in endless arguments about what and how much to cut from discretionary spending, which is only about 30% of the budget. Even here, every proposed cut is met with cries of anguish from the ox being gored. Cut, yes, cut. But cut the other guy, not me.

            The same cries emanate from the Department of Defense. With a budget larger than the defense budgets of the rest of the world combined, we can't possibly deny the need for another aircraft carrier, can we ? Or for more submarines equipped with ballistic missiles that are powerless to prevent the Middle East from becoming a gigantic Islamic republic? Seriously, do we still need 60,000 troops in Germany or an air base in Bulgaria?

            Meanwhile, no one is willing to offer a sensible plan to reduce entitlements for fear of offending seniors--you know, those old folks who vote. Someone has suggested that we lock congressional leaders in a room and not let them out until they've agreed on a solution. That way neither side would fear retribution from those nasty seniors. So much for leaders with the courage of their convictions.

            And then we have our dear President who still thinks we can spend (Sorry! Invest) our way out of this mess.

            God help us.