Republican Budget : What are they doing?!
I have criticized the President in my articled : Why President Obama would fail ultimately. The Republicans have released their budget details a few days ago. I am very sorry, but America has a very pathetic opposition to the President at the moment.
First of all, their budget still does not tackle the problem of debt! Like President Obama`s budget which would be passed very soon, the interest on the debt would catch up with their budget by 2013 and deficits after that would rise after that at almost the same pace as President Obama’s budget proposal.
The spending also does not decrease with the Republican’s budget. This is again another problem the Republican’s proposal shares with President Obama’s budget. If their option is to be taken, spending would increase by 46% over a time period of 10 years while their income would increase by 48%. How do they think they would cut the debt down that way?
The difference between the President’s plan and the Republicans is basically this: The President set about this hyper ambitious agenda and increases a lot of other taxes like on those who earn more than $250 000 a year. That is the reason why the President’s forecast of receipts is much higher than the Republicans and the Republicans have a outlay that is about 1 trillion less than the President’s.
I like the fact that the Republicans have a projected deficit much lower than the President’s projection. Yes, that was the major problem with the President’s version of the budget. The debt was just too high. With the Republicans proposal, the % of GDP which would be debt is much lower. It is slightly less than 15% less than the President’s proposal.
The problem with their budget though is that nothing is being done to solve the other problems that America faces. Very little being done to go about solving the health care situation in America. The effort and money that they put in to be energy independent is not even an iota of attention as put in by the President.
Honestly, what is wrong with the American mindset? Why is it only this or that? Why is it that the taxpayer has to choose between being bankrupt due to the high cost of health care or have the entire country being bankrupt because simple accounting procedures are not being followed?
Where is the promise that President Obama gave in the campaign? Where is that hope? Why can’t the politicians just do their job? Isn’t that what they are supposed to do? If they are not qualified enough to do that, they should find another job (good luck to them trying to find a job in this kind of environment)!
I understand that while it is easy for a commentator like me to voice my rage, it is difficult to put this in practice though. I am not doing their job, but I feel that while issues like abortion and the death penalty can be debated with words, numbers is something that cannot be made a mockery of. Either way, either party, either plan, America would still face terrible budget deficits.
Though, I am not able to play Congressman or Senator here, I think that the situation is right before the American noses. I do not think that the solution is out of the box and not found yet, I think the solution is in the box, it is what is done within the box that matters.
For example, we need to take President Obama’s tax policy rather than the Republican’s version. The Republican’s version just does not create enough receipts for the budget. I think the President need to engage the Republican’s help in making the deficit a surplus.
Just for your knowledge as to how bad the problem is, should we take the President’s projection and match it with the projection of outlays done by the Republicans, you would only get a budget surplus at earliest by 2017. That is how bad the problem is.
I really hope that the American politicians solve this problem, for the sake of the world. It is sad that so far, nobody is able to work together to solve this, I hope that the American public twist their hand to solve this problem though…
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