Thursday, July 16, 2009

What does it mean to erase a deficit?

Lots of conservative people like to always discuss about the budget deficit and some see as doing nothing as an option. That the market will work itself out. Now, I am not an expert on economics or know much about the stock market (I find these areas kind of boring), but would it make sense that doing nothing results in nothing? This is not a fight between a married man and woman where doing nothing can help in certain situations, but this is an economy. These are peoples lives who depend on an income and services to live their lives. Now do we expect to erase the whole deficit that the U.S. has? Not in my lifetime. If we are to focus on the deficit as if it is the most important thing that many conservatives stress, then places that depend on funding from the government in order to operate. Like our educational system. Are we to just ignore it in the name of erasing a deficit? Conservatives have to understand that there are areas that we cannot ignore funding. Now why do we not reduce the amount of funding for our defense department or homeland security? I would not mind eliminating the department of homeland security. However, we cannot ignore the deficit either. I believe that there is an overemphasis on the matter of the American deficit. We do not abandon ship on matters of the environment, education, health care, and creating jobs in order to eliminate a deficit which I see as not possible.

What is America's solution? Well we need Americans to be able to consume in order to get the economy running well again. My state of Illinois is experiencing a budget crisis, but there is something that I do not hear from conservatives. Again I am not an economic expert, but how do we eliminate debt without raising taxes? Gov. Quinn of Illinois has to raise taxes in order to fight the debt. Many people are not happy about taxes because of the societal influence from republicans who have used taxes as a scare card to get elected. When taxing it is important to see who is getting taxed. I agree that the people who make the most money should be taxed the most. This is because there are many people who do not make anything close to the top 1% of Americans make. What also angers many are cuts in spending where people are laid off, organizations struggle with less money, and more people struggle to make a living. There have to be cuts, but not to the point where people are being hurt to an amount that is unbearable.

When it comes to such topics as I discuss here I speak in general terms because this is not a stronghold for me. I do not know jack about much economic problems, but this does not mean I cannot form an opinion or possible solution that can work. And this does not mean I have to agree with conservatives, libertarians, or wall street on what we have to do. I do not agree in doing nothing and I do not agree with letting the rich get away with paying less taxes. This becomes a top-down approach and the matters that are dependent on such government funding cannot die because we have to eliminate a deficit.

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