How do you reduce a $14trillion debt at a time when our economy is at a virtual stand still? Many people believe that the government must somehow spend it’s way out of this problem. Using stimulus packages to kick start the economy and injecting funds anywhere we can find an opening seems like a good way to grow the economy to some people. Well, not to me. I agree that we need to inject funds into the economy. But I don’t agree on where the politicians are getting the funds from. They are simply raising the debt ceiling to magically make more money appear. The fact is, the money is already there. It’s just not where they think.
First and foremost, you have to commit to cutting spending. Even if you think this is going to stall the economy even more than it already is. All you are doing when you spend more is shirking the responsibility necessary to fix this problem now. Once you start to cut spending, and I mean real cuts, now. Not cuts six or eight years down the road. Not these magical “savings” the recent administration has come up with. But real cuts in the amount of money the government spends on a daily basis. Once you start these kinds of cuts, look to the private sector to inject some of that money that is needed to grow the economy.
You will only be able to do this by cutting corporate taxes and removing some of the unnecessary regulations that have placed a strangle hold on American businesses for so many years. Open up our markets even more than they are already. Reduce tariffs and try to bring back that “can-do” attitude this country was founded on. Encourage the private sector to spend their cash reserves by showing them a new kind of real economic leadership.
We can’t just sit back and hope that the economy fixes itself. I’m sure that many of the things I’ve said won’t work. But I’m a simple country boy with no economic education to speak of. If I can look at the options and see the best fixes, surely Mr. MBA from Harvard Business can figure out how to fix this.
The real problem is that the fat cats up top aren’t hurting bad enough just yet. It’s the ones in the middle and down here at the bottom that are dying to get this fixed. I just wish some fat cat up there would figure out that it’s in his best interest over the long term to save us little guys. He needs to realize that he got where he’s at, in part, on the backs of the little guys like us.