This is a question all of us should ask before and during the decision making process for casting our VOTE. There are many issues and nearly all have far reaching implications, not only for us but also for our grandchildren and their children. Yes that right, actions taken in the next 4 year will affect American’s lives for decades to come.
Just as Ronald Reagan's and Bill Clinton's decisions have impacted our lives since they were made, so will decisions made by George Bush and our next president whoever that will be. But be sure, you and I will decide that and live with the decision for at least 4, more likely 8 years. And our grandchildren and their children will continue to feel the impact of these decisions.
For me there are two paramount most important areas of utmost concern for us, and the next generation. These are:
- the unabated growth Federal Government Entitlement and/or social programs, including Social Security and Medicare, and
- insuring a strong National Defense in conjunction with how we deal with threats to our way of life.
Don’t be naive and think that either one of these has a simple solution or that our government will do the right thing. Both are complex and require our input to make our representatives ware of what is important to us. And if our representatives ignore us then we need to find a new representative.
In fiscal year 2007, which ended the end of Sept 2007, our Government spent $3,157.3 Trillion against an income from taxes and other revenues of $2,657.3 Trillion.
http://en.wikipedia.org/wiki/United_States_federal_budget#Mandatory_Spending_and_Entitlements
Right now entitlement programs threaten to:
- bankrupt our government or
- there will have to be significant reductions in benefits provided or
- increase taxes on those with taxable income (includes retirees who made the effort and sacrifice to prepare for retirement) to continue benefits unmodified.
The Democratic Party Policy calls for $300 Billion in additional spending per year for social programs. This is over and above the Billions we’re already spending on social programs. Where will we get the money?
The 2008 Budget breaks down at follows: (http://en.wikipedia.org/wiki/United_States_federal_budget,_2008)
Social Security, Medicare, Medicaid and SCHIP 41.5%
Interest on National Debt 9.0%
Unemployment, Welfare and other Mandatory Spending 11.2%
Federal Government and related Departments (except Defense) 16.7%
Department of Defense 16.6%
War on Terrorism (including IRAQ & Afghanistan) 5.0%
The first two items will grow in the future as our Population Ages and out National Debt gets larger. Within the Federal Government line are many items such as the Farm Bill of 2008 in the Dept of Agriculture along with many expenditures for “earmarks” and “pork barrel”.
Estimated receipts for fiscal year 2008 were $2.66 trillion.
We as Americans need to ensure the Federal Policies, including Fiscal Policy and Budget Management, is going in the direction we want.