Day Two of this blog site. My plan is to post something new five days a week. These items will be timely, relevant, and contribute to making a better world for our Kids and Grandkids. Some days this will be harder than others as not everyday is a “Late Breaking News” day – contrary to the credo of some news channels.
Today is easy. Front page headlines from Tuesday (4/19/2011) Wall Street Journal, “U.S. Warned on Debt Load.” Standard and Poor’s downgraded the “Long-term Outlook” on U.S. Treasury Securities from “Stable” to “Negative.” For more information on “Treasuries” see http://en.wikipedia.org/wiki/United_States_Treasury_security. This is a major wake-up call that our Government’s finances are headed in the wrong direction. While the rating remains at “AAA” for now, how long before it is reduced to “AA” or lower? The S&P stated that their downgrade to a “negative outlook” is based on their lack of confidence that the Republicans and Democrats would be able to reach an agreement on a plan to start fixing the deficit before the 2012 elections. My fear is that they will reach an agreement involving a lot of smoke & mirrors in the 2015 to 2020 time frame. “The magic will happen tomorrow! – Trust me”
This really saddens me because just 50 years ago our Grandparents were giving us a U.S. that was rebuilding almost the entire world. Now we are headed on a path of giving our Grandchildren a U.S. that’s a debtor nation. We can turn this around. It won’t be easy. It will take sacrifice and courage. Everybody is going to have to give a little, a little higher taxes for some, a few less benefits for others. It has to start NOW. We all need to send a short note to our Representatives (we have the most leverage with them) Senators and the President, stating that future votes depend on them compromising and creating real solutions (none of which will be popular with everyone).
More importantly we need to be courageous and specifically identify to Congress what sacrifices we are willing to make, (and what we think is fair for others) higher taxes, later start to Social Security, caps on Medicare and Medicaid? We are “The Government.” If we aren’t courageous, it’s a guaranty that our “elected officials” won’t be either.
In future blogs I’ll be sharing my detailed opinions for all of these. I hope you will share your opinions on this blog/web site. Now I have to go practice what I preach and send an email to D.C.