The United States holds a debt-to-GDP ratio of 94 percent. In addition, GDP cannot be entirely devoted to debt repayment; some must be spent on survival needs. When we reach 100 percent, we will be in the same sinking boat as Greece. How did Portugal, Ireland, Greece, Spain and Britain get into massive debt? By spending far more on social programs than these governments collected in taxes.
There are solutions: The ratio could be reduced if our nation becomes like socialist France and tax citizens at 60 percent (and still rising). The other option is to cut spending, halt any expansion of government, and prohibit adding more taxes, for programs like cap and trade. Historically, the more government collects, the more it spends on expansion. More state and federal employees are hired with far better wages and benefits than the citizens who pay their wages earn. All the states must unite in a single goal - to remove all the politicians who continue to promise citizens more goodies while our debtors pound on our door and threaten to establish an international currency.
Joe Miller, running for U.S. Senator, and others like him, represent a new breed dedicated to cutting spending, weaning us off the federal teat, and building a nation of independent, self-reliant, and prosperous people. The state of Alaska and this country belong to "we the people," not the self-serving, political elites in Washington D.C. We hire them to work for us, not the other way around.
Juneau Empire ©2014. All Rights Reserved.