The State of the Union message by President Obama had some very good points, especially as it regards the rebuilding of the nation’s infrastructure and the importance of the middle class and small business in that rebuilding. However, the president was quite a bit off when he called for a “freeze on spending for the next five years.” We must lower the nation’s costs, not freeze them. As an example, most of the clients that I have are spending less than they were a few years ago due to the slow economic times we are in.
While I am certainly for a major rebuilding of the nation’s infrastructure, I am unsure how President Obama is going to pay for it. We must do the hard things, and the first of these things is a major reduction in the nation’s spending. America can do this by sharply reducing domestic and foreign spending. This must include our military, even though this is not an area that is considered when “cost cutting” is mentioned. One other area that must be addressed is the paying down of our foreign debt – especially that owed to our less than friend – China.
While I do not have a degree in national or international finance, I do see that we need a much smaller government, with a cut over 10 years of 25 percent of the federal workforce and the passing of a balanced budget bill that includes a line item veto and strong rules as regards the “pork” that so wastes our taxes. This is not a ”Republican” or a “Democrat” problem, it is an American problem, and each American – you and I – have a job to do. Each of us must pressure our senators and representatives to cut spending, not freeze it.
At almost $1.5 trillion, the projected 2011 shortfall can only be reduced if “We the People” realize that it will require sacrifices at all levels. Entitlements such as Social Security and Medicare/Medicaid will be the toughest to tackle. As more and more Americans – those in the “Baby Boomer generation” – retire, the strain on the national budget will increase. Sadly, the borrowing from these entitlements in the past means that what should be already funded is not.
In closing, I admit that the next 10 years will be tough. It has to be, however, if we apply ourselves, as Americans are able, nothing is impossible. The Greatest Generation – those who fought in World War II – did it, those who were asked to put a man on the moon, and those who currently are keeping America safe have all shown us the way. Now, we must follow. Thank you and may God Bless.