Link to Paul Ryan’s article on Wall Street Journal:
http://online.wsj.com/article/SB10001424052702303442004579123943669167898.html
Paul Ryan’s article on Wall Street Journal on October 8, 2013 was written within a blaze or was it with some thought? I have no idea where he’s coming from:
“We have an opportunity here to pay down the national debt and jump-start the economy” – Sorry, but we as a nation already HAD the opportunity to decrease the deficit and debt figures since Obama’s first term in office. Besides, we don’t need another jump-start cable on the battery because triple AAA, the Federal Reserve Bank with roadside assistance, plus Obama brought forward in helping the middle class to secure more jobs has already got us at the end of the tunnel – it’s just what’s happening now in the House that’s just like the motorcycle gang harassment on the highway when we have the cruise control on with stability.
“…the discretionary spending levels in the Budget Control Act are a major concern. And the truth is, there’s a better way to cut spending. We could provide relief from the discretionary spending levels in the Budget Control Act in exchange for structural reforms to entitlement programs.” – Sorry, what is this all about? The Budget Control Act, on the spending clauses of the act was that to DECREASE spending at a higher rate than the INCREASE of the debt limit. This is why it’s called ‘CONTROL’ – meaning that it’s designed to have spending and debt be monitored closely. Besides, the sequestration in spring this year, has already cut Federal spending that for a fact, made major international airports to have delays for more than 2-hours. How on Earth do you think that further measures proposed by you are not going to hinder business and economic growth? How do you think we, as a nation, are able to work at a higher productivity rate when the Federal government is being constantly bombarded with restrictions and with the shutdown. How does that contradict your party’s value on the role that the government plays for our nation?
“We could ask the better off to pay higher premiums for Medicare.” – Sorry, what are you on about? For those who are ‘better off’, they probably can afford private insurance or little to none insurance. Why would they be willing to fork out higher rates for Medicare? Medicare program is not designed for the elites like yourself but it was a beginning for our nation to be able to offer AFFORDABLE HEALTHCARE.
“And we could ask federal employees to contribute more to their own retirement.” – Sorry, as I’ve mentioned yesterday, might as well revise and recalculate the salaries and remuneration of the entire Congress, as many of you don’t need to plan for retirement. Through time, the savings might actually help to pay some of the bills of vital government operations that’s been shutdown for 11-days now.
“And all of them would help pay down the debt.” – Sorry, do you have any idea how financing works? I’m not an investment banker but maybe just the basics. There are assets and liabilities – and then credit. Yes, our current liabilities seems to be out of control. However, we have certain fixed assets that’s been built since George Washington and you have no idea what it’s worth, do you? Unfortunately, with our credit rating being downgraded, that’s a blow in the face. However, across the board from bailouts to now many large corporations are being able to stand on their own with positive annual results, with carmakers showing a trend of consumers being able to afford in durable goods (which means they forecast, household/per capita spending is justifiable in medium term length), with housing market starting to have a small upward incline, with the NYSE, all indices climbing healthily and still have IPO offerings. All of the above are more than enough, the early signs to show that we have the assets and the projected confidence in our economy. One thing that you have to realize is that in a highly competitive GLOBAL scale economy, the chances that we as a nation grow in rates and percentages like the 80’s and 90’s are almost impossible due to emerging markets and competition from across the Pacific, China. The best way for us now is to steadfastly, build on what we have as a foundation to steadily climb in small amounts where it is actually much safer and better in the long run than radical ups and downs.
“- like opening up America’s vast energy reserves to development.” – Sorry, what is this about? Have you even caught up with the news that Obama’s self-sustainable energy plan? Anyway, the statistics for 2013 third quarter: Wind & Solar Power (up +192%); US Crude Oil Production (up +51%); Petroleum Imports (down -43%). We are not the Middle East. We never were producing fossil fuels as a major export, so why do we want to do it now? Plus, it’s a valuable resource that we should save as much as we could when other renewable types of energy and more efficient machines/vehicles/appliances are popping up like popcorn.
“So let’s negotiate an agreement to make modest reforms to entitlement programs and the tax code.” – Sorry, the tax code has been around for quite some time. It’s not the UTMOST IMPORTANT, TOP PRIORITY issue to be addressed when the government has been shutdown. Besides, if and when Medicare are unable to provide the support just like you mentioned on Social Security in early 80’s, then what the hell are you going to do without Affordable Care Act? Get your priority straight – wake up and smell the coffee.
“The Federal Reserve won’t keep interest rates low forever.” – Sorry, on what basis do you say that? This is a complex calculation and analysis from the Fed. It doesn’t only have to do with our nation’s GDP and growth, consumer spending/borrowing, imports and exports, monetary policy – but it also involves the entire global economy with Euros, Yen, Yuan, Aussie Dollar, Canadian Dollar etc. Therefore, if we continue the shutdown and playing games with ultimatums and/or ransoms when we are barely hanging on the cliff as one of the largest economies, a domino effect that’ll spiral to another recession when we just wad our way through the mud is bound to happen.
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PS – Don’t get me wrong but on the following sentences: “Most important, they make the programs more secure. They protect them for current seniors and preserve them for the next generation.”
1. Most important? Maybe it should read: Most importantly…
2. They protect them? Who’s they? Who’s them? Subject, object, pronouns…
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References:
http://online.wsj.com/article/SB10001424052702303442004579123943669167898.html
http://www.factcheck.org/2013/10/obamas-numbers-october-update/
http://en.wikipedia.org/wiki/Budget_Control_Act_of_2011
http://www.whitehouse.gov/share/eight-ways-obamacare-helps-you
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Thoughts from Arnold 