As I watch the Presidential debates, I don’t really see a plan from any candidate that can bring us out of the hole. The biggest problem, which is our debt, cannot be solved by spending cuts or revenue increases alone.
I am a former Canadian, yet even I know it was not the intention of America’s forefathers to have government involved in every aspect of a person’s life and in every corner of the economy.
We have all often heard that “Government is by the people and for the people.” Yet, our government grows bigger and bigger at every opportunity. Big government will be the downfall of America and that is not because of any bad intentions on the part of Obama or Hillary; it is because Socialism does not work and will never work!
In my opinion, Obamacare will be impossible to repeal, because once millions of Americans are receiving healthcare subsidies they will fight to keep them. If the country had massive revenue then I am all in favor of making these benefits available to all citizens, but we are not in that position. Yet, politicians institute spending processes as if we are.
Our government is at a point of complete mismanagement. We need desperate reform to both Social Security and Medicare. We need to look at the idea of personal retirement accounts as a possible solution, which could remove millions of people off the government entitlement program in the future.
As I watch the debates on TV no one will attack these sticky issues, because then they won’t be elected. Even if the GOP has a strong candidate with a good plan any discussion about changing Americans entitlements will bring out the voting masses to protect their entitlements and we will see another Democratic Government. Again, I am not anti-Democrat, I am simply saying what will happen and that Democrats do tend to increase entitlement programs.
Please understand I am trying not to support either the GOP or Democrats, but as a student of the economy and a person who interacts with many of you on a personal basis and therefore I have to include talk of the election with respect to the direction of the economy.