Independent voter Thane Ritchie brought to our attention how little difference there actually is between the proposals and policies of Democrats and Republicans in Washington DC. Paul Ryan’s “radical” Republican budget which will “end Medicare as we know it,” among other cuts to spending and revenue across the board, will reduce our nation’s debt by a grand total of 12%. Only 12% more than the “liberal” Obama budget!
Reform Party candidate for President Ross Perot emphasized the issue of our $4 trillion dollar debt – which will be over $20 million by 2020 – with great success in the 1992 Presidential debates:
After the “debt ceiling crisis” of 2011, which resulted in the loss of America’s AAA credit rating (as well as helping to produce the “most unpopular Congress ever”), we need to expect better from our presidential candidates on the issue of reducing our national debt. As independent voters, we need to demand bolder solutions than the Obama and Ryan budgets, which as seen above, produce relatively the same outcome ten years down the line.
At the very least, debating the debt would be a start. If you haven’t already, we recommend heading over to DebateTheDebt.org and signing their petition to advocate for discussion of the issue. As a country, we’re not in imminent danger of becoming Greece, but it could happen sooner than you think:
“The mounting national debt is one of the biggest challenges facing the United States. Its growth is outpacing that of the economy and, left unchecked, will reach dangerous levels — 91% of GDP by 2025, 149% in 2040 and 415% in 2080. Debt at those levels will impact economic growth. Increased government borrowing will ultimately lead to higher interest rates, which will crowd out needed investments. The growth of wages and standard of living could also suffer.”