America’s Fiscal Crisis Looming Larger

We hear every day how our government is spending more money than it has coming in; but the situation is getting ridiculous! The Federal government’s spending is far out-distancing its income; and there is no end in sight. This cannot go on! The government’s tax and spend tactics are not helping the unemployment situation; and there is no increase in productivity in sight—increasing productivity is the only thing that will pull the economy out of the doldrums. Only government employment seems to be increasing.
Now, to make matters worse, we are planning a new entitlement program in the form of a health care bill that will supposedly provide health insurance for 46 million people. President Obama says the spending on this new entitlement will not increase deficit spending! He must be talking of some new kind of magic where he can buy something for nothing. The fact is that if you provide free or low cost health insurance for 46 million people, 46 million people will begin using health care services at a faster rate. Who can say that that will not cost anything?
The only way to control this dangerous rush to suicidal cost over-runs is to reform the tax code by getting rid of corporate long term gains taxes and decrease pay-roll deduction taxes. That will actually stimulate growth by increasing employment and improving productivity. http://tinyurl.com/yfh96l7