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Tuesday, January 10, 2012

Gene Sperling on the Social Compact: The Role of Government and Deficit Reduction



Gene Sperling President Obama's Director of Economic Policy or something to that effect. Said something to the effect that he hates Deficit Reduction and that no one likes Deficit Reduction. And he also said that Americans are willing to do their part in Deficit Reduction, pay their price. If the whole country is in it and not getting out of Deficit Reduction. The second part I agree with him on, the first part I disagree with him on. I personally love Deficit Reduction as someone who believes in Fiscal Responsibility. And so do a lot of other Americans, because it gives us an opportunity to make our case. To eliminate a lot of the junk and waste in the Federal Budget. Cut back on things that we shouldn't be doing and reform things. That are in our National Interest, for example does the United States really need to at our expense. Defend Developed Nations around the World, that have the resources to defend themselves and spend 200-300B$ a year doing that. I of course would argue no and bring those troops home from Europe, Saudi Arabia, Japan and Korea. And apply that revenue to Deficit Reduction. Do we really need to spend 50-100B$ a year in Agriculture Subsidy's and give a lot of that money. To successful farmers, just another version of Corporate Welfare. I of course would argue no and speaking of Corporate Welfare, do we really need to spend 50-100B$ a year in other Corporate Welfare. Thats where a lot of the Special Interest corruption comes from in the Federal Government, that Sen. Tom Coburn and Sen. John McCain talk about all the time.

To give up another example does the Federal Government really need to spend 1-1.5T$ a year managing our Safety Net. Or can this be done better at the State and Local Levels, as well as the Non Profit Sector. In the Private Sector, this is an idea I've been pushing for a couple of months now. Getting our Social Insurance System and I mean all of it, not just the Giants like Social Security, Unemployment Insurance, Medicare and Medicaid. But the whole Menu of Social Insurance thats in the Federal Budget and passing it off to the Non Profit Community Service Sector. And let each State set up their own Social Insurance System and see what other ideas are out there. Transform these programs from being Sustaining Programs, where they help take care of people in need. To Empowerment Programs that are designed to help get on their feet and be Self Sufficient. Do we need the Federal Government running the Postal Service, they are in debt right now. Probably going to have to slash their Healthcare and Retirement Funds. Thats what you get then the Feds try to Micro Manage large organizations. There's a lot of things that the Federal Government currently does, that its not very good at. That could be run better by other groups or should be eliminated. And thats without even getting into the Tax Code.

Another thing I like about debating Deficit Reduction it gives an opportunity to debate the Role of Government. Especially the Federal Government, I even enjoy listening to the fringes in this debate. One side arguing that the Federal Government should be doing practically nothing. And the other fringe arguing that the Federal Government should be doing practically everything. They make for a great comedy, especially when they are debating each other on TV. You don't get to hear much in the debate though. Because they spend most of their time yelling at each other at the same time. But this is a great debate to have especially amongst the adults in the room.