Inconvenient Truths and Myths

A blog friend recently sent me a link to this website. Here are two inconvenient truths presented there:

Each household's share of the nation's $53 trillion hole is $455,000.

Our children and grandchildren will face tax rates that more than double over time without real reforms to the government's existing entitlement programs and current spending and tax policies.
Here is their list of their inconvenient myths:

We cannot grow our way out of these problems. To do so, our economy would have to grow by double digits in real terms for decades. Even during the relative prosperity of the 1990s, the economy grew at an average rate of 3.2% per year.

We cannot solve the problem simply by eliminating earmarks and pork-barrel spending, cancelling the Bush tax cuts, and ending the war efforts in Iraq and Afghanistan. Combined, these actions would get us only 15% of the way to solvency.
While I am not sure that I agree in total with the specifics of their truths and myths I do agree with their sentiments on what we need in a president:

"We need a President who will tackle these critical issues, help educate the public, and lead a bipartisan effort to make meaningful reforms a reality."
Not sure that either candidate is up to the task.. and I'm pretty sure that no one will be debating Medicare in tonight's debate.. but I hope that I am wrong.


  1. Thanks for this Bob - I posted on something similiar.

    It's when I read the Preacherman's request I beging to see the ripple effect of these approaching hard times.

  2. I'm not usually one to send this out to people myself, but since I saw it after browsing your blog this morning, I thought you'd be interested.

    The debate? More of the same to me...


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