Well, I must say, I am not that worried about the ensuing debt crisis. Then again I own 40 passports and have had to change countries three times.. this week.. so little worries me at this point. However, for the common man, I am worried.
House Speaker John Boehner has failed to organize the Republican party around anything, and is clearly disrespected for his failure to take a firm stance. Earlier today he told congress that they needed to fall in line with his proposed bill, and he is right about one thing, something must be done. In the immediate, we need to pass a bill NOW. I don’t care how we do it, raise the ceiling, cut some small stuff, anything to get it done. Yet, all of this will only be a short term solution to what is our main problem.
Our main problem is our bloated defense spending budget. We all know we spend an enormous amount of money on defense spending, but how much? In 2012 we are planning DOD spending of 707.5 billion dollars. Of course we need soldiers, of course we should intervene when massive amounts of human lives are being threatened, but the reality is we do not have the funds to play world police anymore. The portion we spend on RD is enormous, but arguably necessary. However, The portion we spend on foreign military bases is beyond dumb. Subsidizing European defense, or stirring up the middle-east is a waste of our money! So before we cut some ex-teachers check 20%, lets close those bases. Pull military personel out of harms way, and into the economy.