DC Has A Problem
Recorded on April 14, 2011
It's time for common sense; I'm Ernest Istook.
President Obama's big speech about government debt was more politics than substance.
But the speech was an admission that we have a dangerous and immediate problem from too much government spending. Obama offered no real solutions except loose promises for spending discipline—delayed for years until after he leaves office. He demagogged with his standard claim that the rich should pay more—even though the 1% who earn the most already pay 40% of the personal income taxes.
Obama doesn't want to address it, but the biggest expenses are federal health care spending on Medicare and Medicaid. The House of Representatives at least is voting on a budget framework that would revamp those programs. Medicare for today's seniors would not change, but if it stays the same, the program will collapse and nobody will get anything.
For common sense, from The Heritage Foundation, I'm Ernest Istook.