To the Editor:
Every child knows which parent to approach for permission to do something risky, expensive, inappropriate, or too impractical. The parent who says “No” is called “mean”, “uncaring“, “selfish”, etc.
Some marriages have problems because over-spending threatens financial disaster, e.g., eviction, inability to purchase real needs like food and health insurance. Sometimes one spouse stands up to avoid the disaster, slashes expenses, sells expensive toys, cancels unessential services, etc. Family members enjoying the excess spending may call these cuts “extreme” and the responsible parent “mean”, “uncaring“, “selfish”, etc.
Across our country city, state, and federal governments have recklessly over-spent and over-committed future spending.
Some cities and states cannot pay their bills and face painful austerity remedies. Daily, our Federal government adds $4 Billion to our debt which approaches the level that caused crises in Greece and Ireland, and is forcing harsh austerity programs elsewhere to avoid similar disasters.
Planned deficits on top of our current $14+ Trillion national debt could inspire a return to normal interest rates, driving interest costs near $1 Trillion annually. Our country is approaching financial disaster that could quickly cause a great drop in our standard of living, slashing the value of people’s incomes, benefits, savings, homes, and other assets.
No one ever wants parties to end, but the recovery and clean-up from reckless parties can be painful. And, ending the reckless partying and cleaning up the mess is the assignment given by the American people to our elected representatives last November.
This assignment will not be easy. New Hampshire legislators must close this year’s $100 million budget gap and an $800 million budget gap next year. Federal legislators face a $1.65 Trillion deficit this year and at least $1 Trillion deficits for the foreseeable future.
If you took every dollar from every rich American, you could not pay off our debts and commitments. And, you still would not have stopped the reckless over-spending. To solve the problem, our legislators must slash spending.
Like the responsible spouse struggling to save the family from disaster, legislators struggling to cut government spending will be called “mean”, “uncaring“, “selfish”, etc.
Republican proposals to cut $61 Billion from the $3.6 Trillion Federal budget have already been called “extreme”. This 1.7 percent cut is not extreme, it is inadequate! But, it is a start. The proposed Democrat cut which apparently is up to $20 Billion is a meaningless 0.6 percent.
The needed spending cuts may sting some, but they will avoid a very painful financial disaster.
Our legislators are addressing a nearly impossible task, they deserve our support, our encouragement, and our thanks.
Don Ewing
