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January 11, 2012

Letters to the editor

To the editor:

Worse than a deer caught in the headlights of an approaching car is our federal government dealing with the debt crisis.

Federal officials know what the danger is but are unwilling to do anything about it. Did we really need a "super committee" to show what has to be done? Perhaps Congress should have named it the "super-dupe-committee" or just call in the clowns and fools. The results would be the same.

Our leaders are not serious about getting America right financially. They play the political blame game and kick the can down the road.

According to Congressional Budget Office projections, by 2021, our deficits will add $9.5 trillion to our already $15 trillion national debt. Even if the "go-big" $4 trillion deal was struck by the super committee, it still wouldn't be enough.

Meanwhile, Obama's spend-now-and-pay later so-called "jobs bill" and poor government investments in clean energy and companies like Solyndra are adding to the burden.

But the real budget busters are entitlements, federal benefits and pensions. These types of unfunded obligations lead to bankruptcies. Greece has learned that lesson. And bailouts and forgiven debts come with strings attached. America is too big to bail but not too big to fail and the truth is there is not enough money to pay out what has been promised.

Our rate of overspending is unsustainable. Habitual out-of-balance budgets keep adding deficits to our already heavy-laden debt burden. Eventually there will be a tipping point of no return.

President Obama says we must "share the sacrifice." So let's do it.

Without considerable savings in Social Security and Medicare, a leaner military budget, more taxes and other unpleasant austerity measures, the red ink will kill us. A balanced budget amendment to the Constitution is what we really need, but we don't have time for that. The headlights are getting brighter, if we don't move in the right direction soon, prepare to brace for impact.

David Rousseau

Haverhill

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