By Chris Ingram
The Tampa Tribune
Published Saturday, December 22, 2012
If the 1960s are most remembered for the Kennedy and King assassinations and the fight for racial equality, and the ’70s for Watergate, Vietnam protests and the gas crisis, the ’80s for the fall of the Berlin Wall and Ronald Reagan’s optimism, the ’90s for the tech boom and Bill Clinton’s intern, the 2000s for the September 11th tragedy and the election of the first black president, the decade of 2010 will be defined by the bankruptcy of America.
You could write tomes explaining how this happened and who is to blame, but that won’t solve the problem. The fact is, America is broke, and it’s only a matter of time before we face the upheaval seen in Greece (in 2011, only Greece, Italy and Japan had higher debt as a percentage of GDP than the United States). The only reason we aren’t there yet is due to our politicians’ proclivity for punting.
They’re getting ready to punt again, with President Obama and Speaker Boehner working on a compromise that would include tax increases, spending cuts and an extension of the debt ceiling. Although the tax increases and spending cuts are a good start, they’re a mere drop in the bucket. A $400 billion unspecified cut in entitlement spending here and a $440 billion tax increase there (both over a period of 10 years), won’t do anything other than symbolize the need to do something. Those mediocre attempts to rectify an $86 trillion debt would be like throwing a gallon of water on a five-alarm fire of a completely engulfed building that stretches for several city blocks.
The extension of the debt ceiling is just another punt — remember it has been raised four times in just the last four years alone. The question of, “Why does this keep happening?” is simple: because… (click here to read the rest of the column in The Tampa Tribune)
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Chris Ingram is the president and founder of 411 Communications a corporate and political communications firm, and publisher of Irreverent View. Ingram is a frequent pundit on Fox News and CNN, and has written opinion columns for the Washington Times, UPI, and National Review online. He is the Republican political analyst for Bay News 9, the only 24 hour all news channel in Florida’s largest media market. The opinions expressed here are those of author and do not represent the views of Bay News 9. E-mail him at: Chris@IrreverentView.com.
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