Talk of The Villages Florida - View Single Post - Repeal The Debt Ceiling!!
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Old 07-29-2011, 05:35 PM
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Default At Best, Misleading...At Worst, A Lie

Quote:
Originally Posted by RichieLion View Post
Have you read Thomas Sowell's column. Please do and get back to me. I'll take his analysis over yours at this point.
Yeah, I did read it, as a matter of fact. You have every right to "take Sowell's analysis". But I will certainly point out where he is wrong or has presented his assertions in a very misleading way.

First of all Thomas Sowell is a columnist, not a reporter. His job is to write controversial columns. While he is syndicated in many publications, The Villages Daily Sun included, he primary employer is The National Review. Founded by William F. Buckley, it describes itself as "America's most widely read and influential magazine and web site for conservative news, commentary, and opinion."

OK, so Sowell is a far right wing columnist writing in a far right wing magazine. That's OK with me. I think one needs to read the opinion of both conservatives and liberals to arrive at some personal beliefs and opinions.

Where I differ with Sowell is his assertion that the national debt is the result of runaway spending by the Obama administration. His assertion is not supported by the facts. In his column he says, "... the bill is coming due for all that (Democratic) spending and borrowing, Republicans are suddenly being invited to share the blame..." The GOP should share the blame, regardless of what Sowell says.

The facts are that when George W.Bush took office, the national debt was $5.73 trillion. When he left, it was $10.7 trillion. That's an increase of $4.97 trillion, almost doubling the national debt during his administration. The current national debt (at this minute according to the U.S. National Debt Clock) is $14,551,015,000, an increase of 36% since President Obama was inaugurated.

That amount of increase is nothing for President Obama and the Democratically-controlled 111th Congress to be proud of. But for Sowell to now lay the blame for the entire national debt problem on the current President's doorstep is simply incorrect. This President will have to deal with it, hopefully slowing the rate at which it increases or maybe even balancing the budget by the time he leaves office. But he certainly didn't cause the whole problem. Our deficit spending and debt had a gigantic running start when Obama took office. And during much of the Bush administration, the Congressm that did all that spending was controlled by the Republicans!

Sowell does make some very important statements in his column...
"...however much the media are focused on what is happening inside the Beltway, there is a whole country outside the Beltway — and the time is long overdue to start thinking about what is best for the rest of the country, not just for right now but for the long haul...."
"...Too many policies, programs, and institutions are judged by what they are supposed to do, rather than by what they actually do and the consequences of their actions..."
Independent analysis by the non-partisan Government Accounting Office shows that the two biggest factors contributing to the current national debt were the Bush tax cuts and the stimulus spending programs. One was passed by a Republican administration and the other by a Democratic administration. Both had honest, high-minded objectives. Neither program came close to achieving their objectives.

By the way, although many here assert that Obamacare is costing so much that it will break the country, it has yet to make even the very bottom of the list of contributors to our current national debt problem. The Bush prescription drug bill makes it all the way into the top six factors causing the dramatic increase in our debt, according to the Government Accounting Office.

So now we are where we are. Unfortunately, it appears that the members of the current Congress are playing political games rather than addressing the very real and very critical problem. It's as if winning the political game is more important than any of the effects of their failure to collectively address the problem.

As far as I'm concerned, they all ought be thrown out of office. The country can do that with the House of Representatives. Unfortunately, it'll take six years to clean out the Senate. Anyone who simply votes for a party in the next election deserves what such an action will bring.