With polls showing confidence in Congress at all time lows, business climate uncertainty and Wall Street protestor numbers swelling, it’s no surprise that much needs to be fixed but the issue really are not the solutions but all the differing ideas on how to solve the problem and the emotion and passion behind those ideas.
Bottom line is no matter how someone feels about an idea, whether it would be the President or the local plumber, facts have to back the idea up that it will work to some positive degree. One cannot just base solutions on simple “gut instinct” or even what the polls show because many times, people are shown to be wrong.
The good thing is that facts are not right or wrong, they are objective and that is why they are called facts. So let’s keep this in mind while you read the rest of my commentary if I haven’t bored you.
There are numerous programs that need to be fixed and I won’t go into detail but just on a high level will name the areas that need fixing or some form of “modification” that seem to have the majority of agreement from various sources and polls. The list is simple but the method to tackle the problems is the challenge and are varied and complicated, depending on what position is taken.
1) Defense Spending – Pentagon – Experts and facts indicate there needs to be some change and cost savings
2) Medicare modifications – Experts and facts indicate there needs to be some change and cost savings
3) Social Security – If we hope to keep this program, Experts and facts indicate there needs to be some change and cost savings
4) Boost local spending – arts, construction, housing, etc. – Experts and facts indicate there needs to be some change and cost savings
5) Consolidate, simplify and streamline legislation in a number of programs, agencies and areas to provide for cost savings (and that means also closing loopholes and earmarks). – Experts and facts indicate there needs to be some change and cost savings
If we pay attention to just these 5 areas, tax hikes would not be necessary because savings could be drawn from these other areas. If tax hikes were still necessary, they would be only minimal.
The consensus shows that these 5 areas comprise almost all of the issues that need to be addressed to fix the economy as a whole and locally.