MIDDLEPORT —
I wasn’t among the countless Americans who fell for the political theater when Gabby Giffords cast her “yea” vote for the raising of the debt ceiling. While many couldn’t see through their tears, I could see through the smokescreen and took it for what it was. It was a climactic moment much like you’d find in a Hollywood production and it was just as scripted as one. Washington higher-ups forced her appearance (against all good judgment) and wanted to paint it as something miraculous. By doing so, they were able to frame the debt debate in much the same way.
There is no doubt this is how the spin was intended: Congress, which like Giffords was wounded by hate founded in disagreement, was able to overcome its injuries and forge a bipartisan agreement with Giffords-like resilience, saving our nation from certain death.
The analogy was quite the stretch, even for the spinmasters, but people bought it anyway. Most Americans were actually elated over the outcome of the debt machinations and they felt overcome with patriotism upon seeing Giffords. Even the national press fawned over the bill and her vote, calling everything historic.
Blinded by propaganda, most couldn’t see that it was not a fix for what ails us. Rather, it will only dig a deeper hole for America and spell certain doom for Generations X and Y.
Consider the following realities of Washington’s “miracle”:
The federal government is still spending beyond its means. This was a deficit reduction bill, not a deficit elimination bill. It will cut just $2.2 trillion in spending from 2011 to 2021. Earlier this year, the Congressional Budget Office estimated a $9.5 trillion imbalance over the next decade. So, that leaves us with another
$7.3 trillion that no one wants to address.
The bill focuses only on discretionary spending, and, so far, ignores so-called mandatory spending which includes Social Security and Medicare. Our unfunded obligations to those broken entitlement programs are $15 trillion and $78 trillion, respectively. It’s known that their trust funds (whether they actually exist to begin with) will be bankrupt within the next few decades. Despite that reality, Congress didn’t feel it was necessary to fix the problem now.
Will they ever?
The bill added $2.4 trillion to our debt ceiling. That increase was the largest in our nation’s history, besting the $1.9 trillion increase passed by Congress in February of last year. That brings our total allowable debt (at least until the next vote) to just under $17 trillion.
Currently, our nation owes $14.6 trillion. There are a couple of ways to put that into perspective. First of all, let’s remember that this is our debt, we’re in it together. Every citizen owes $46,711. Looking at only those who contribute to society (pay taxes), it works out to be $130,243.
Secondly, let’s compare it to our overall economy. Our gross domestic product was $14.7 trillion in 2010. It’s risen only slightly this year and the fear is it will retract some over the next 12 months. Any way you put it, our GDP and debt are nearly equal. We make as much as we owe. That would never fly in the real world (the private sector): No bank would loan, say, $14.6 million to a small business that has only
$14.7 million in sales and poor regard for future obligations and an inability to change its cost structure.
The rest of the world is starting to see things that way. Immediately after the bill’s signing, Chinese rating agencies downgraded our debt and tagged a negative outlook onto it. It’s tough when a communist country says you need to cut
$4 trillion in spending over the next five years … especially when it’s the same communist country that holds a staggering $1.2 trillion in your debt.
Simply put: There’s absolutely nothing miraculous to be found in the deficit reduction bill. That’s what makes it so disgusting that the political machine used Ms. Giffords as a tool to somehow conceal — or make palatable — such fiscal misery. It’s even more disgusting that so many people fell for the political theater.
Sadly, if the political playwrights continue to have their way, the final curtain will be closing on America this century..
Opinion
Related Photos
-
Bob Confer
Discussion
CONFER: Political theater and debt ceiling
- Opinion
-
-
I can clearly see my mistakes
For some reason, God — in his infinite wisdom — made me just shy of perfect. Yes, it’s true. I have faults, but being humble isn’t one of them.
While there are scores of people who would likely disagree, in my opinion, my less-than-20/20 vision ranks right up there amongst my biggest flaws.
-
There are bobcats in our area
In recent years, local residents have had the chance to witness some interesting animals within our borders. Among those that generated the most press and most talk were the black bears that frequented the area for a couple of months. The beasts elicited either fear or appreciation, depending on one’s perception of bruins. More often than not, the former emotion ruled the day.
-
Governor needs to stay on point
Last week in the governor’s State of the State address, Cuomo said he’s taking on a new job. He’s going to be an advocate for the kids. In fact, Cuomo went so far as to say that he’s going to be the only advocate that kids have.
-
CONFER: A warning about the WARN Act
Entrepreneurship has always had its basis in the understanding and handling of the unknown. No business owner has ever known exactly what his customers want, what the markets hold, or what his competitors are doing. But, they’ve always had a good idea about what might happen and, from the theoretical standpoint, what should happen.
-
VALLEY: I'm amused by the little things
Am I the only one amused by the fact that few (if any) people have ever seen a woman in a dress like the ones in the fashion section of a newspaper? I’m talking about the illustrated apparel — designed by people with one name — that’s supposed to be what people will be wearing in the next fashion cycle.
-
Recognize our hometown heroes
If you haven’t driven through Holley this summer, you’ve missed quite a sight. The light posts and electrical poles throughout the village are adorned with Hometown Heroes banners. Each one recognizes someone from the village who is actively serving in the military. The attractive banners are 72 inches tall and about half as wide and each one is adorned with a large photo of the serviceman/woman along with his or her name and branch.
-
VALLEY: Inactive seniors and over-reacting juniors
Have you seen the commercial on television where the young gal who is at the age where she knows everything there is to know about life and the world says something to the effect that a recent study had shown that older people tend to live less of a social life than they did in the past?
-
VALLEY: The other side of a tragedy
In late June of 2010, I wrote a column about my friend, Dave Cook. Back then, Dave and his wife, Carol (and daughter, Chelsea) had been through a Hell-ish scare when a liaison with the U.S. Marine Corps had left a message about their son, Sgt. Trevor T. Cook. Trevor was serving in Afghanistan at the time.
-
CONFER: The real story behind your power bill
As long as the Public Service Commission allows a pending rate change from National Grid — and there’s no reason they wouldn’t — the electric company’s customers will see significant savings come Jan. 1. The bill for the typical household/apartment will be nearly $9.50 lower per month, while homeowners with families (who use more power) drop by almost $16. That’s $114 and $192 in extra spending money per year. Not too shabby.
-
VALLEY: Don't take offense to this
I was making a delivery last week in my Napa pick-up truck when I noticed another truck several car lengths ahead of me. At first, I thought that it, too, was a work truck, because I could see a large sign across the tailgate.
- More Opinion Headlines
-
I can clearly see my mistakes
Looking for Love? Take the Prague Metro
Crews Race to Find Survivors of Okla. Twister
First Person: Baby Falcons on a New York Bridge
Oklahoma: Images of Devastation, Reunion
Reunited Dad, Son: 'We Just Praise God'
Slow Pokes: Acupuncture Helps Sick Turtles
Moore, Okla. City of Reunions, Tears After Storm
Former IRS Chief: Can't Say How List Happened
Gov. Fallin: Okla. Facing Horrific Disaster
Tim Cook Defends Apple's Tax Accounting
AP Photograher: 'It Was a Miracle' They Got Out
Raw: Crews Search for Survivors of Okla. Tornado
Raw: Tearful Reunion After Okla. Tornado
OKC Hospital Describes Treating Tornado Wounded
Obama Pledges Urgent Aid for Tornado Victims
Raw: Massive Funnel Clouds in Oklahoma
