NVDAILY.COM | Opinion
Posted September 13, 2012 | 37 Comments
Letter to the Editor: Obama offers a forward path
I've never been a huge Clinton fan, but during his speech at the DNC he said something very important. He said:
"I mean, consider this. What would you do if you had this problem? Somebody says, oh, we've got a big debt problem. We've got to reduce the debt. So what's the first thing you say we're going to do? Well, to reduce the debt, we're going to have another $5 trillion in tax cuts heavily weighted to upper-income people. So we'll make the debt hole bigger before we start to get out of it. Now, when you say, what are you going to do about this $5 trillion you just added on? They say, oh, we'll make it up by eliminating loopholes in the tax code. So then you ask, well, which loopholes, and how much? You know what they say? See me about that after the election."
And he offered this as one scenario: "They'll just do what they've been doing for more than 30 years. They'll go in and cut the taxes way more than they cut spending, especially with that big defense increase, and they'll just explode the debt and weaken the economy. And they'll destroy the federal government's ability to help you by letting interest gobble up all your tax payments."
It's denial to believe that the unfunded tax cuts Bush introduced had zero effect on our current economy. Romney's answer to fix what they can only fault our president in not fixing fast enough is what? To do exactly the same thing Bush did. To repay debt, he intends to decrease revenue. The equivalent of calling VISA and telling them that to pay off your debt faster you are going to send in smaller payments. To add insult to injury, at his own convention he couldn't even come up with any excuse better than "we will get to that after election" to justify his imaginary math.
Maybe our president doesn't have a magic wand, but at least he offers a path forward instead of standing before us offering a proven failure that defies the laws of basic arithmetic.
Christina Thomas, Front Royal