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Garland Robinette

"The Think Tank" Host
Weekdays 10am-1pm

Twitter: @garlandWWL
Email: garland@wwl.com



I DON'T CARE - Debt Ceiling - A reasoned and researched approach

 Yes, a reasoned and researched approach.  After months of both, I have come to the conclusion that without a PHD in economics, a CPA diploma on my wall or the opportunity of being an elected Washington official, I am wasting too much valuable time within the confines of a very short life to give much more thought, anger, study, or worry to the current struggles of the “day care center” some call D.C. politics.

This revelation came to me while listening to a discussion on national public radio.  A roundtable of liberals and conservatives spent an hour discussing the current deficit in a calm, measured and intelligent manner.  I was fascinated by how every participant convinced me of their argument, until the next participant convinced of their argument.  I wrote down each topic and then researched each as soon as I got to my office.  Here’s what I found in just a few short hours.  Here’s why I don’t care.

DEBT CEILING DEBATE:


a.    The debt-ceiling debate is a manufactured false debate by right-wing radicals that insist on cutting spending regardless of the affect on our economy.  It is NOT a real crisis.  (Political Economy Research, Mark Weisbrot; The Debt Crisis and Our National Character, Dr. David Gushee)

b.    The debt-ceiling problem is a real crisis that could bring about a national catastrophe.  (Executive Intelligence Review, Rubin, IMF Warn of U.S. Economic Catastrophe; Washington Post, Raise debt limit to avoid national catastrophe, Lori Montgomery)

DEBT IS THE REAL PROBLEM:


a.    Long-term debt is the real problem.  Throughout history countries have defaulted and gone on to grow economically, but not so while carrying long term debt.  (Phoenix Capitol Research, Graham Summers; Jared Olar: Debt is the problem, not the debt ceiling, Gatehouse News Service)

b.    Short-term debt is the problem. Long-term debt cannot be fixed without raising the short-term deficit ceiling.  (Bullard: ‘No Options’ For Fed If Debt Ceiling Not Raised, Wall Street Journal)

DEFICIT CEILING AND COMPROMISE:


a.    Compromise is never a good idea. (The Nature of Compromise, just “google” the title)

b.    Compromise is the only way. (Debt compromise matters. Khallej Times, Liz Alderman)

DEFICIT CEILING AND RATINGS DOWNGRADES:


a.    Downgrades will not be a major problem.  (Wakey, wakey, The Economist  Apr. 20th 2011)

b.    Downgrades could hurt all 50 states. (A U.S. Default Could Hurt All State Ratings: S&P Ratings Services.)

DEBT CEILING / DEFICIT CANNOT BE FIXED WITHOUT CUTTING SOCIAL SECURITY AND MEDICARE:


a.    Federal accounting does not show a need to cut Social Security and Medicare. (The Case Against Intergenerational Accounting, James K. Galbraith)

b.    Social Security, Medicare benefits must be cut. (Press Telegram)

DEFICIT CEILING DEMANDS A CONSTITUTIONAL AMENDMENT REQUIRING A BALANCED BUDGET:


a.     Constitutional balanced-budget amendment is a bad idea. (Fareed Zarkaria, TIME magazine editor in an interview with John King of CNN.)

b.    Constitutional balanced-budget amendment is needed. (Daily Paul, Ron Paul).

…….and I could go on an on and on.  EVERBODY has a kernel of truth in their argument, in their club’s beliefs…their Demodon’t, Republican’t or Tea Party beliefs.  But I, being of independent mind, have no idea WHO is right.

It’s like being in a classroom while being taught by teacher “A” and teacher “B.”  The class enters, each pupil believes only the teacher who reflects his or her beliefs.  Half cheers “A;” half cheers “B.”  Me, I don’t have a clue.  But, I do have an idea.

Both teachers should keep fighting.  Never back down.  Never give an inch.  Sooner or later one will prevail.  If that teacher is right I’ll follow his/her classes (keep you in office).  If that teacher is wrong, I’ll sue your tenure-derriere for screwing up my daughter’s and my future opportunities (kick your butt out of office).

In the meantime, I’m going on to major in more important things; like asking why America doesn’t have an energy plan?   The gas pump will get us long before debt, Medicare and Social Security).  How do we compete with the world?  How do we improve our daily lives?  Where is innovation and creativity?

In this moment in time, I can proudly proclaim after much open-minded reading and thinking, when it comes to the deficit, debt, Medicare, and Social Security…I don’t care.


Tags :  
Locations : Washington
People : David GusheeFareed ZarkariaGraham SummersJames K. GalbraithJared OlarJohn KingLiz AldermanLori MontgomeryMark WeisbrotRon Paul




 
09/01/2011 11:26AM
I DON’T CARE! (Debt Ceiling - A reasoned and researched approach)
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02/10/2012 12:21PM
Dept ceiling ( state retirement fund)
Thank you so very much Mr. Don for just letting me wait on the phone for so long and not even coming on the line and telling me you ran out of time . Thanks a bunch David from metairie
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