Letter: Proposed economic solutions won't helpThe current deficit reduction plan is political suicide. I’m not sure anyone will step up to bat. It may never get off the ground.
By: John F. Elskamp, Fulda, Worthington Daily Globe
The current deficit reduction plan is political suicide. I’m not sure anyone will step up to bat. It may never get off the ground. Why don’t we just pass the hat around in Washington? I suggest Congress start panning for gold.
Many of the proposed ideas will slow down the economy. Just cutting funding will reduce services that many need to survive. First we should reduce fraud and waste. There is little effort to reduce fraud and waste in Social Security, Medicare or the military.
The fraud in Medicare is huge. The first response is to cut the funding, but cutting off the money does not solve the problem. It deprives the innocent as well as the guilty. Throwing money at the problem does not make it go away. Good management should be the first priority. Come down hard on those guilty of fraud and waste. Know where the money goes, and make the dollar go further.
At the same time we must guard against inflation, which is another form of taxation. That’s not easy. The “think tank” will have to work on that one.
As our dollar becomes weaker, more and more of our corporations will be bought up by foreign money. Industries such as GM, Chrysler and GE will be leaving our country. More effort must be made to keep them within our borders. Foreign money continues to attempt to get control of our agricultural industry and our food supply.