John King, USA

The latest political news and information on the most important stories affecting you.
November 15th, 2011
10:08 PM ET

Deficit cutting deadline near

John King, Sen. Saxby Chambliss and Rep. Heath Shuler discuss the super committee's looming deadline.


Filed under: Interview • JKUSA
soundoff (One Response)
  1. John Kollar

    Dear John King,

    Let's emphasize a comprehensive approach with long lasting solutions to our severe $14-15 Trillion debt, budget, economy, jobs, justice and democracy.

    The USA’s myriad problems are complex and intertwined. They will hardly be solved with some piecemeal patchwork solutions. Herein are some fundamental, broad based structural solutions with old fashion moral justifications.

    The USA’s grave debt, budget, political, power and this crisis devoid of altruism and statesmanship is the culmination of over two centuries of debasing the principles of the US Constitution. Sadly, the idealism, altruism and humanity of our Founding Fathers have evolved into a culture of greed and power, the root causes of our problems.

    The self-inflicted troubles of the USA are great and escalating. They are democracy destructive problems, created over a century that are now imbedded and immorally legitimized in law and our culture.

    We can face reality and correct these problems responsibly or we can continue our previously hedonistic but now solely destructive ways and end the era of the USA preeminence. Fall down or rise up.

    The USA debt is fueled by open-ended “unsustainable” financial patterns in healthcare, education, government and in numerous government programs. Add to this list, open-ended entitlement programs, a corrupted inequitable Tax Code and economy destructive, non-productive WS/bank speculation.

    These major democracy, Constitution and USA destroying
    issues involve multiple very complex interlocked forces of a) Lobbying, b) Wall Street’s economy destroying “casino markets”, c) Tax Reform to a fair business-like model, d) Unsustainable Programs with no Controls, e) Entitlements without graduated limits, and f) White Collar Fraud encouraged by nil prosecution.

    LOBBYING is the cancer that corrodes justice, creates economic injustices, divides people and debilitates before it ultimately destroys democracy and the USA.
    WS MARKETS non-economic “casino markets” speculators rob the economy of at least $ 650-950 Billion each year of real spending income. Costs – jobs, economic growth, tax revenue.
    TAX REFORM must create a fair and just business modeled IRS Tax Code, which eliminates all loopholes and recapture up to $300 Billion of unpaid taxes.
    UNSUSTAINABLES – healthcare, public sector programs, etc. “MUST” be constrained by mandating, justifying and limiting their inflationary growth.
    GRADUATE ENTITLEMENT LIMITS – reduce beneficial social programs and all healthcare with excess use controls.
    White Collar Fraud Prosecute equitably

    A more detailed, 13 pages of explanations and achievable solutions are available for your consideration to save the USA, if requested.

    THE FUTURE
    See the handwriting on the wall. If the Euro gets its act together, the Euro and the Chinese Yuan will become the default currencies and replace the only strength that the US dollar possesses, a gigantic printing press.

    Look at the facts, the dollar denominated world debt 10-12 years ago was 95+%, now it is less than 69% with the Euro at 30%. With the Chinese Yuan looming to enter the picture in a strong way, where will the dollar come to rest. It will be as low as 25-30% with a strong Euro and Yuan, and the USA will surely fall.

    As this scenario comes sharper into focus all US debt interest will rise at least 2-4%, or $320-640 BILLION a YEAR more of interest payments. In CBO talk $3.2-6.4 TRILLION.

    November 16, 2011 at 3:38 pm |