April 8, 2011
Budget Deficit: What is the real problem? For many past decades since 1900 American carry over two billion in debt to 14.29 trillion today. Each year we plan a fiscal year by spending more than we have collected. The real issues here are irresponsible spending and inappropriate tax laws. This matter is so embarrassing and unresolved-able for many years from this administration to another administration. Each fiscal year, we all have seen a struggle, fighting among two popular parties about cutting or adding spending. This question always makes me so concerned and wondered when we can solve this national real problem. Do we have enough genius, talented economists, Nobel Prize Awarders in this lovely country to help out the best solution? From the bottom of my heart, yes we can fix it, not too short or not too long neither but it is also not too late to act than to be idle. If we will not begin to move today then nobody will follow us tomorrow, we got to build a future path for succeeding generations to come. A path can help to drive the nation out of the debt crisis. We need a better American living standard; we need a better environment and society with prosperity and national security, as well. "As Thomas Jefferson said, “Never put off till tomorrow what you can do today.” We must figure out what is the real problem of our budget deficit "and" we got to find a common ground to solve it in a reasonably and rightly. I am sure we have more than two cutting or/and adding techniques to resolve this extremely difficult matter. The other problems we face today that the economy and political systems are not in a good shape in the past decades. I would say it is like a couple who have not has a healthy relationship. They keep fighting and fighting each day but, they could not be separated by some reasons. They also have never seen it and might not have a solution for it. Basically, they need help. The government and Congress want to sit down together. We need a serious plan to expand the economy, help American hard working families back to work. We must have a new vision for support new industries. A vision must bring the optimistic and the sense of confidence to Americans. We need to restore the trust to the economy system; a trust should not only begin to draw from People Street but Walls street. A plan must create 10 million of new jobs and bring about 9 percent annually of gross domestic products during the next couple decades. The national jobless rate should be kept under 3 percent. The next issue we must make a fair tax rules for all, an appropriate share for both rich and poor to take a part of the contribution. Do we still need any more debates or we need a solution? We have incompatible tax laws that could be a cause and effect of our economy growing and income. To attract more private investments, we need to change in the right direction. We also need modification to obtain more funds from higher level executive than as unskilled income families. A ten to twenty million more jobs will pay our debt problem in the long term. A healthier economy will help us overcome our social obstacle issues. We could not want to spend as much for our society as we have a weaker economy system. This could help us to reduce the national debt rabidly by years. Again it is not the first time; we heard the debate on America Budget deficit. I concerned about the World reaction has risen up time by the time because of the bigger and bigger US Debt and Budget deficit. It has become a problem not only for the United State but World, as well. If we do not take it serious issue, if we do not begin establish financial responsibility then we will become worst than situations. As we holdup it for years that make the problem is harder and more expensive to solve. We will also face a series of issues in the soon future such cost of wars, jobless rate, new beneficiaries and baby boomers in entering retiring process. Will those costs make our national debt limitation in higher?
Best Regards, Kenenth Phan
