Do we all understand that the federal government's slide toward default and bankruptcy is going to destroy the US economy if we don't stop it? Do we? Really? I don't think so.
Someone I have known for a long time called the other day. He had read a book that convinced him that the end was coming for the US. Fortunately, he said, neither of us would be much bothered by the collapse. The obvious reason would be our absence from this post-apocalyptic scene.
Nevertheless, a certain regard for the fate of the people he and I have both striven, however futiley, to protect caused us to discuss the matter.
IMO, the solution is apparent:
- Let the Bush tax cuts lapse. The GAO reckons that would increase revenues by 3.3 trillion dollars over 10 years. The beauty of this is that the "sunsetting" of these tax reductions does not require any action on the part of anyone. Congess is good at that.
- Let the Grand sequester occur beginning on 1 January 2013. Once again GAO thinks that would cut 1.3 trillion dollars from spending over ten years and once again no action is required.
- Set Medicare eand Social Security eligibility at 67 with reduced benefits for SS at 62 as an option. Means test SS payments.
- Stop operations and spending in Iraq and Afghanistan. This is costing the US more than 100 billion dollars a year. BHO is now projecting our unfunded liabilities in Afghanistan out to 2024. That would be 1.2 trillion. The Operations and Maintenance costs of these wars is enormous. Withdraw from Afghanistan. Let the Afghans determine their own fate. Tell the Afghan government, like all others, that harboring our enemies will bring violent retribution but not occupation.
- Reduce the US ground forces radically in line with prospects for future ground combats that are likely to be equipment intensive but limited in scope. The sequester will force this anyway, Why not get ahead of "the game?" Keep SOF spending at present levels for the World wide CT effort.
- Stop subsidizing the Egyptian and Israeli governments.
All of that should add up to something like a 5 trillion dollar net change in our situation. Would that not be helpful? pl