Balanced budget would solve problems

-A A +A

Dr. Brooks Walker

Whenever we read an editorial letter we are tempted to look for the author’s bias and this may determine whether we will continue reading.
We are loyal to our own bias and often this closes our mind to consider the accuracy of the opinion or information. Having said this, I have been looking at the events in Washington and around the country. There seems to be a clear right and wrong that is either not being reported vigorously enough, or is being subjected to political spin to justify behavior, which I cannot believe is acceptable to the average citizen.
Consider the debt-ceiling debate. The president and Senate leader told Republicans that they want a clean debt ceiling increase with an unlimited increase available. The spin has been that the Republicans are going to cause a economic crisis if they do not give in to this demand. They cite the last time the economy was downgraded, saying this would happen again if we do not borrow more money. This downgrade occurred for the first time during Obama’s first term, but it had nothing to do with the debt ceiling. The downgrade occurred because the United States debt was too high and there was no spending cuts being offered.
If we increase the debt ceiling again without  including spending cuts and assurance that we will deal with the debt increase we will be degraded again.
If the president gets an increase in the debt ceiling we will borrow more money than we have coming in as tax revenue and he will increase our debt even more.
Another spin that is not true is when reporters, politicians and most disturbingly the president, says that if we don’t borrow more and increase the debt from $16 trillion to some unlimited amount is that we will default. That is the most disturbing lie being told to “we, the people.”
The government takes in $250 billion a month in taxes and the interest payment on the debt is $20 billion. We will not default on our debt unless we increase the debt to the point where we spend more that we take in as taxes, which ironically seems to be what the president and Democrats are suggesting.
The solution is simple, but not popular to some. First, we must stop deficit spending, or spending more than we take in. That’s just common sense. Second, we must cut spending and stop the waste and fraud.  
Some say that we also need to raise taxes, but raising taxes may sound like you are getting more money, but actually a tax increase removes money from the economy and gives it to the very people who have shown themselves to be irresponsible with our money. I say “no” to giving Washington more money until we get politicians who understand how to be physically conservative.
The president should be easing the fears of the American people, but he is doing most of the fear-mongering and that is dishonest and damaging to the economy.
Some suggest that the world is worried about our economy, but they are only concerned because if we have a higher debt we cannot loan as much money to them.
This crisis with the debt and the shutdown are not the fault of the tea party or even the Republicans.
These problems could be solved if the president and Democrats will decide to balance the budget, stop excessive spending and make permanent  spending cuts.

Dr. L. Brooks Walker is a Heath Springs resident.