Let's encourage less spending by taking it all away!
The turnout of the recent elections gives Americans the opportunity to mend our spendthrift ways and become fiscally responsible, both governmentally and personally. Otherwise, they fear the American economy will lose its status as the standard for world economic stability.
Probable Democratic solutions for the problem at hand are as follows:
1. Raise taxes.
2. Cut benefits. Raise the minimum retirement age to save Social Security.
3. Adopt a "pay as you go" philosophy to federal spending.
4. Encourage citizens to save rather than spend themselves into wealth.
I really disagree with the first two points. The economy is doing better than pundits expected, especially so soon after the tech bubble burst and the economic fallout from 9/11. People are paying less taxes than they were under Clinton, and the unemployment rate is below 5 percent, which is great considering the great tech layoffs of late (US Labor Dept.). I think the economy is sailing in the right direction without increasing the tax burden and cutting or delaying Social Security benefits. Not to say the SS system does not need an overhaul, but it fails to qualify as the Doomsday Device for our economy.
Full disclosure: I am a federal employee, so it's in my best interest to encourage raising taxes and fight the cutting of benefits. I hope to have a pension in about 31 years, thank you very much...
Sources:
US Department of Labor, Bureau of Labor Statistics. Internet: , accessed 7 Sep 2006.