Put Entitlements, Defense, And Taxes On The Table
In President Obama's recent State Of The Union Address, he talked about winning the future by out-educating, out-innovating, and out-building the rest of the world. He also talked about taking responsibility for the nation's deficit and long-term debt because we can't win the future if we pass on a mountain of debt to tomorrow's American generations.
The President's proposed budget for 2012 follows up on The State Of The Union Address by eliminating wasteful spending, cutting programs that aren't working, making tough choices, and targeting necessary and responsible investments in our future. The budget invests in innovation for jobs and industries of the future. It invests in roads, bridges, rail, and high-speed internet to help American business ship and connect to the world. And, the budget invests in education so America's students are prepared for the 21st Century. (See http://www.whitehouse.gov/omb/budget.)
Erskine Bowles (D) and Alan Simpson (R) co-chairs of The National (bipartisan) Commission on Fiscal Responsibility and Reform write in "The Hill" that President Obama's budget "takes some important steps toward putting this country on a more sustainable path."
President Obama's proposed 2012 budget tightens the belt on discretionary spending which represents a mere 12% of the overall budget. In reality, cuts to discretionary spending are irrelevant to truly solving the nation's structural long-term debt.
Erskine Bowles, Alan Simpson, and President Obama are in accord. They understand that making cuts to the discretionary portion of the budget, though important and stabilizing, alone will not eliminate the long-term debt. There is only one way to get that job done. Put on the table medicare, medicade, social security, defense spending, and tax reform. The Bowles-Simpson Commission Report addresses these 5 big debt drivers and most importantly recommends ways to stabilize and safeguard medicare, medicade, and social security for the future.
(See http://www.fiscalcommission.gov/.)
To eliminate the long-term debt will require our nation's legislators to be courageous, do what's right, cease the campaigning, make some tough political choices, and share in the sacrifice. Hopefully President Obama will find enough adults in the room to help him get the job done.
Richard O. Schwab was formerly associate head of school and middle school head, Cincinnati Country Day School. He is also neighborhood team leader, Glendale Organizing For America Community Team (GOFACT.) He lives in Glendale.
Richard O. Schwab
830 Congress Ave.
Glendale, Ohio 45246
H.513-771-4397
