We don’t like to talk about it, but our economy is weak, getting weaker and ultimately heading for life support. The Congressional Budget Office projects our federal debt will rise to 100% of GDP by 2020 (it was 36% in 2007). By 2037 the Social Security Board of Trustees predicts its funds will be completely exhausted (payments will exceed income in 2010). Federal Reserve Chairman Bernanke has stated multiple times that unless we take action, “We will have neither financial stability nor healthy economic growth.”
Yet our “political leaders” simply watch this train wreck happen while spending their time worrying more about Roger Clemens' use of steroids and hunting opportunities for sound bites as they seek reelection.
Paul Ryan, however, is in a close race for his seventh congressional term representing Milwaukee yet has actually provided a potential solution to our pending economic crisis.
Given his straight talk about our problems and offering potential solutions that include wiping out ObamaCare, reducing Social Security benefits, increasing retirement age and capping discretionary government spending, he does not stand a chance. Poor guy.
Currently only 14 fellow Republicans have endorsed his “Roadmap
for America’s Future”. Even with an overwhelming
Republican win in November, he’s too radical.
The NY Times even labeled him a “flimflam man.”
So, he may take a bullet, but hopefully he’ll put enough pressure on the system to bring forth alternative plans to address the real economic problems we face. Hopefully he can capture enough attention to put this debate where it belongs on a national stage.
The discussion must shift from what the future can support versus what we have now to what the future can support versus what a bankrupt federal government can provide…
It is time for you to get educated and involved in the conversation.
- Warren Buffett Defends Moody's - Drifts Further from Economic Reality
- Small Business Loans – When will the Environment Improve?
- How Ben Bernanke's Economic Exit Plan Will Impact Your Business Loans This Summer
- Business Cash Advance: Small Business Loan Alternatives Part 1
- Investor Preference – Life Saver for Angel Investors