The Republicans are absolutely right that the United States can’t keep up deficit spending running over seven percent per year, not without creating long-term inflation and a national debt whose interest could soon reach forty percent of annual federal government spending. But they’re wrong in how they want to deal with the problem. At a time when we have multi-millionaires and multi-billion-dollar corporations who pay little or no taxes and whose businesses are essentially partly subsidized by federal government income and healthcare supports, the Republicans want to cut funds for the poorest of Americans while cutting taxes on the richest and passing tax credits for them as well.
The Democrats, on the other hand, want to keep increasing spending on existing social programs without being able to come up with a politically viable way to support those programs without increasing the deficit.
The so-called compromise bought us some time, but not much else. The plain fact remains that, under the current political stalemate, only corporations and the well-off really benefit. They keep their lower taxes and tax credits, and one way or another, everyone else pays.
One of my neighbors recently retired, not because he wanted to, but because, after forty years or more of working with heavy machinery his knees and shoulders gave out. Even with two replacement knees he couldn’t do the job he once did, and he couldn’t wait to get the maximum social security benefits. While he was more prudent than many, the fact remains that too many workers can’t physically work long enough to get even reduced social security benefits. Yet these are people who get hurt most by Republican policies, and one of the great ironies is that a disproportionate number are Republicans who don’t even seem to see that.
But until those who are hurt the most and don’t realize it finally understand, nothing will change.