There really isn't a better time to reexamine what the role of government should be in America and what exactly. Do we need it to do for us at our expense, then when we have a so called crisis where we have to look for new savings. In order to advert the fiscal cliff and look for ways to make the Federal Government more efficient and cost effective. Thats really what we should be doing what we need not want the Federal Government to do for us in this great huge country. And then we gotta figure out how to finance without borrowing what exactly we need the Federal Government to do for us. In an economically and fiscally responsible manner that puts us on a path to finally getting our fiscal house. In order, we obviously need a strong national defense, including a strong intelligence agency, strong. Homeland security, a strong foreign service, we need to be able to regulate the economy and have a strong. Currency and a strong justice system, these are the basics that we need the Federal Government to do for us. And then we need to figure out what else the Federal Government should be doing as well.
As former US Comptroller David Walker said the Federal Government has made more promises to its people. Then Americans are willing to pay for, so if thats the case then we need to find a way to finance what we are willing to pay for. And then go from there and this mainly relates in the social insurance areas but we have a national defense thats committed. To defending developed countries around the World that can afford to defend themselves, while we are borrowing. Money from them to pay them to help defend their own countries, so to me that would be a great place to look for savings. And then of course we are compassionate country that looks out for our poor and so fourth but for people who live. Off of public assistance whether they are working or not and who are physically and mentally able, we should. Be looking for savings here as well, not by kicking them off and on the streets but putting them to work and. And to education and job training so they can get themselves good jobs and no longer have to live off of public assistance. We could save hundreds of billions long term by doing this.
These are long term savings and would be part of a broader Federal Government reform plan but short term. We also need to look for savings in entitlements and in defense, as well as new revenue to avoid the fiscal cliff. Where we don't see a huge middle class tax hike and across the board spending cuts that would put us at a severe risk. Of going back into recession, like having the wealthy pay more for entitlements and having them pay more in taxes. Perhaps not starting at 250K$, perhaps 500K-1M$ would be more appropriate, as well as tax reform and savings in defense. Like the draw downs from Afghanistan and Iraq as well.
