Digging ourselves out of the hole
How did the U.S. National Debt accumulate? Source treasurydirect.gov
Carter - 9/30/1977 $699B adds $299B
Reagan - 9/30/1981 $998B adds $1.859T
Bush I - 9/30/1989 $2857B adds $1.554T
Clinton - 9/30/1993 $4411B adds $1.396T
Bush II - 9/30/2001 $5807B adds $6.103T
Obama - 9/30/2009 $11910B
Current $14332B adds $2.422T
Now take a good look at those numbers and realize who borrowed and spent what. Note the three Democratic administrations accumulated ~$4.1T of today's $14.3T; the three Republican administrations added ~$9.5T.
Mike Crapo went to Washington, D.C., at the same time as Bill Clinton. He has been present for the growth of the U.S. national debt from $4.4T to today's $14.3T.
Orrin Hatch went to Washington, D.C., with Jimmy Carter in 1977. Max Baucus arrived the next year. They both witnessed the national debt grow from $700B to today's $14.3T.
John Boehner arrived in Washington, D.C., 03 Jan. 1990, when debt was $3T. Paul Ryan went to Washington, D.C., 03 Jan. 1999, debt at $5.8T. Eric Cantor and Mike Pence arrived on 03 Jan. 2001, debt at $5.8T, along with George W Bush. There were surpluses at the end of Clinton's term. Those surpluses disappeared shortly after GWB's arrival with support of all those representatives in the House. How? U.S. revenues were gutted.
Simple question: What did Crapo et al do to prevent the huge growth in the U.S. National Debt? It is obvious, nothing. In fact, they voted for even more spending after having reduced revenues.
One of Einstein's famous quotations is, "We cannot solve the significant problems of today using the same thinking which created them."
Crapo, Hatch and Baucus are all part of the problem creation, as are the rest of our most senior elected legislators. It is very unlikely they hold the solution.
We will not correct the debt and deficits using the same techniques which have failed over the past few decades. The issue must be approached from both ends - revenue and expenditures. We will recognize our representatives are serious when they:
1. Eliminate the pension and benefit payments for all representatives elected or appointed to federal office (senators, representatives and executive branch officials) over the last 40 years. This is recognition of their responsibility in creating the current budgetary imbalance/fiscal crisis and is the public, visible sacrifice they must make in order to gain credibility.
2. Restore fairness to taxation. This is done two ways. First, all income regardless of source is treated identically. No more special treatment for capital gains or "carried interest." Income is income is income. Second, all deductions are eliminated for all taxpayers. Leave all existing rates in place. No more gaming of the system via special legislation beneficial to certain interests.
3. Treat corporations as the legal individuals they claim to be under the law. If they are recognized as legal individuals, they will be taxed as legal individuals.
4. Eliminate waste and duplication within programs serving the general population. Audit everything and fully prosecute all violators, no deals without admission of guilt.
5. Eliminate all tax subsidies to agriculture, coal, oil and other businesses. If government wants to provide incentives, fine, do it through transparently awarded grants. "Tax Expenditures" are veiled spending.
6. Rein in defense spending by focusing on national defense and not geopolitical dominance. Bring our troops home. It's time we enjoyed the "peace dividend" we were promised decades ago.
One other item to note, not a single proposal on the table today discusses paying off the debt. Everyone talks about "reducing the deficit" but none of them eliminate it nor is retiring the National Debt even mentioned. Serious discussions must lead to paying down the U.S. National Debt as we cannot afford to spend hundreds of billions on non-productive interest payments.
Joseph Heath is a Post Falls resident.