Wednesday, April 16, 2014

Basically bankrupt


Either Mr. Longhofer is the most obtuse person on the planet or he should be a politician the way he tries to divert from the point. I talk about spending money we don’t have and he talks about Haliburton. I could waste time with Obama putting his friend ahead of taxpayers in getting money back from the Solyndra bankruptcy and many other Obama shady deals, but that’s not the point. Mr. Longhofer talks about stimulus spending like we are a fiscally responsible country and just need to borrow a little to get us past a difficult time. Newsflash: We’re not.

What we are is a basically bankrupt country heading for $20 trillion or more in debt by 2016 even without Mr. Longhofer’s desired stimulus. It might be useful here to point one of the reasons the last stimulus didn’t work. It was hoped that with stimulus companies would hire people. Stimulus is short term and hiring decisions are long term. With Obamacare and continued talk of higher taxes companies are putting off hiring those they don’t absolutely have to have until they get an idea of what the playing field will look like when all these taxes and federal programs settle down. Back to our situation. We are up to our eyeballs in debt, so Mr. Longhofer’s stimulus would require us to print and borrow even more money than the disastrous amount mentioned above. Maybe he figures he’ll be gone before those school children you see boarding those yellow busses realize the crushing mountain of debt that he is advocating burying them under. Or maybe he figures those children are so screwed now that a little more won’t make any difference. Maybe he thinks that when we are like Greece, which unfortunately is not probably more than ten years away, another half trillion or so won’t matter. Sort of like the guy that’s $100,000 in debt and planning to declare bankrupcty figuring that upping it to $120,000 won’t make any difference. If you are planning on this country not financially surviving you are right. If, on the other hand you envision us getting back on our feet someday you are wrong.


Letters to the Editor


Discussion | 6 comments

  • James E.January 23, 2013 - 4:57 pm

    This letter doesn't seem to have a name attached to it but it must be Mr. Alger. Mr. Alger, I'm not obtuse and I once did consider running for office, but decided I would rather enjoy my retirement. You continue to base your argument on Greece. Greece and the United States are alike only in that both are countries (you do know, don't you, that Greece first came into financial trouble because most of their citizens were evading taxes). Be assured America will get back on its fiscal feet -- stop being such a defeatist in homage to Tea/Republican talking points. Your party raised the debt limit today. Perhaps you should be writing Boehner and Cantor instead of the MtDemocrat, as all spending is dictated by the Congress and not the president. Could the reason you cannot understand this is because you are obtuse? Oh, I think not, you aren't obtuse, you are merely parroting the Party line. Til we meet again and keep up the good work for your party.

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  • Jim RiordanJanuary 25, 2013 - 11:03 am

    George. An interesting side note. As a business consultant and manufacturing engineering manager I was brought in by friends to look at the Solyndra plant near the freeway in the south bay for a "second opinion". I took one look at the layout and the logistics of how the panels would have to be moved building to building instead of being under one roof and declared it a "cluster-screw" from day one. I was not the least bit surprised when it went under and neither should the no-brainers in Washington that ok'd the project. It was a study in how to take money for a project destined from day one for failure. . . . your government at "work" for you. Hah.

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  • A Real ConservativeJanuary 25, 2013 - 6:05 pm

    If Solyndra used Riordan as a consultant it is no surprise they went under.

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  • billzzJanuary 25, 2013 - 6:10 pm

    All federal taxes are supposed to originate in the House of Representatives. The way around this is to say that a presidential initiative is funded by "fees," or something else, but not taxes. The recent health initiative by the administration used the interstate commerce clause to say that healthcare is an interstate activity. The chief justice said that it was a tax, but went with other justices upholding the administrations right to do whatever it wanted. We basically do not have a workable constitution anymore. In California one can also look to the failure of the referendum system where the people go to the polls and pass a referendum, which becomes law. Except that it does not if some lawyer sues saying that it is, "unconstitutional." Then it goes around and around in the courts. In the Soviet system they had a constitution (looks remarkably like ours) a legislature (called the Duma) and even courts. But they also had a Politburo, and it did not make any difference what the people, or the legislature, or the courts wanted. If the Politburo said "Nyet," then whatever it was, was negated. But if you were a part of the ruling party, then you agreed. If you did not, then there was always the Gulag. Or an IRS audit, which two people I know just got notice. Their crime was to answer a White House people's referendum, and they indicated that Piers Morgan should be deported. In the next few days they wewre both served with an IRS summons. Get this. They are both finance officers of a company, and there is no way that there would be any irregularity in their taxes. You can try this yourself. Go to the site and vote. See what happens. Sorry for the long-windiness, but I only write every other week anyway.

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  • Poor BillzzJanuary 26, 2013 - 1:40 pm

    The Affordable Health Care Act was passed by Congress, including Republicans. It was not an executive order. Also, the Soviet Union has not been in existence for the past 10 years or so. You're welcome.

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  • Ken SteersJanuary 27, 2013 - 10:43 am

    Looking at my W-2 it seems I'm paying for more than my fair share. But I wouldn't want to trade my W-2 for any of yours. So I guess it's all good. The debt is not owned by China but by us. Our society has decided that the devaluation of the USD is more palatable than austerity measures. If 53% of our society either works or is dependent on the government then as long as their compensation is adjusted to inflation then why should they care?

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