The Debt Problem May Hound Us For Generations
Our economy and job situation are inseparably tied to the national debt. If we don’t deal with the debt now, the economy will collapse, and so will the job market.
When the Federal Govt. cannot pay it’s debts, it will mean govt. employees going without pay, recipients of SS and other government dole not getting their checks, medicare and medicaid payments not being made, and govt. securities at maturity not being redeemed. It also puts a dampener on govt. contracts. Ironically, trimming all of these a little can keep them going, provided the govt. takes in enough revenue and borrowed money to handle what’s left. Of course this will all lead more people to file for unemployment as well and the cycle will just repeat itself.
If the Federal Govt. is forced to default on obligations, then that’s a lot of money not getting into the hands of the public who would otherwise spend it on merchandise and services. So, if the businesses make less profit, there is an increased probability of employee lay-offs and less hiring.
It’s The Stystem, Stupid!
The real problem is the system itself. As a former Hospital Administrator I understand the problem which is not being addressed by any program or insurance program. The system is running wild. The gate keepers (Doctors) have no incentive to practice cost effective medicine, in numerous situations they benefit from financial incentives to practice the way they do.
Health Care company’s, hospitals, labs, free standing surgery centers are simply milking the existing system are our expense. How else can you explain $20 aspirins. The health care system has to be overhauled. The numbers expressed by others are just the beginning.
Take the profit out of medicine and the system will right itself. Yet nobody is addressing the system. Why… because too much money flows from the system into the political world. It can’t be managed with Insurance programs, Obama care or whatever they come up with they are just another source of revenue.
Yes health care has to be rationed… A friend’s Mother (92 and in very bad shape)) just had an MRI and CT last wk. I asked what would you do if they said she needed surgery… nothing was the response. The same friend (Veteran) Dr. retired; he was receiving injections for his knees. The new Dr. said he wanted a new CT/MRI to continue to treat him? The prior exams were 18moths old. My friend is too old for knee replacement as this is the only viable and safe treatment remaining for him. $5000 in exams were needlessly performed. What incentive did the doctors have not to order the exams? Good medicine, no worthless medicine. Wasteful..
Why do MRI and CT cost so much? Because they can get paid. WE have more CT’s and MRI’s in S. Fl than all of Canada. They close at 5-6 pm. I have to take off work to have an exam performed. If they stayed open till 11pm I wouldn’t miss work, the center would book more exams and the prices could fall with full utilization. Instead we have too many MRI/CT, running on their schedule, grossly under utilized…..
Honestly it is very simple to correct but nobody wants to change the system they just want somebody else to pay the bill………
Spending Needs To Be Corralled Through A Balanced Budget Amendment
The debit and deficit spending is obviously directly tied to the economy. To act as if they are separate and distinct is non-sense. If so much of out tax dollars were not being eaten up servicing the debt they could be put to use for other things. Until we face the fact that we can not continue to grow the debt, but need to pay it down and eliminate it, and that we need to stop deficit spending, the economic problems we now face are only going to get bigger.
Right now 40 cents of every dollar the government collects is used to service the debt. It will not be that much longer before that figure grows to 60 cents of every tax dollar collected, if we continue deficit spending and growing the debt.Cut and eliminate the deficit spending, pay off the debt and balance the budget.
If Mr Obama wants to be a leader he would get his party to agree to a Balanced Budget Amendment in exchange for some tax reforms. With any increased revenues generated therefrom being targeted exclusively to paying down the debt, not increased deficit spending.
Where is the leadership Mr Obama? Why are you against a balanced budget mandated by the Constitution? Where is your plan to stop deficit spending, pay off the debt and balance the budget? How long do you envision that will take? And how much bigger do you think we have to grow the debt before we star getting serious about paying it off?
