Incredible, this coming from the Baltimore Sun, hometown to Nancy Pelosi and her father, Baltimore Mayor Thomas D’alesandro, Jr.
If congressional negotiators fail to raise the debt ceiling and reopen the government, voters will blame House Republicans, but it’s the president and fellow Democrats that are behaving like teenagers by wanting to spend irresponsibly.
Studies by the non-partisan Congressional Budget Office and Medicare and Medicaid actuaries indicate if Washington continues spending and borrowing as current law requires, then all Americans, and not just the wealthy, will be paying higher taxes and more on private health care.
Federal spending on Social Security and medical care will squeeze out spending on roads, education and other activities necessary to support the economy and protect public safety. Budget deficits and the national debt will jump to unbearable levels.
Like in Italy, economic growth will slow to a snail’s pace, unemployment will become unbearable and working Americans will become much poorer. In the end, Uncle Sam will default on its bonds and obligations to the elderly, and many Americans will be deprived of decent health care.
Since winning control of the House, Republicans have sought to focus the president and his allies in Congress on those challenges, but Democrats have resisted any meaningful changes to entitlement programs.
With Americans living longer, the Social Security retirement age must be raised or benefits checks slashed when the program’s trust funds run out of cash. Yet, the president refuses to embrace even the most modest increase in the qualifying age for full benefits advocated by the Simpson-Bowles Commission he created. Read more at The Baltimore Sun
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