Apr 20, 2011

Posted by in It seems to me.. | 0 Comments

April 20, 2011

Click here to listen!

90 second news commentary heard on the American Christian Network

 

It’s amazing how often Americans keep voting themselves into poverty.

I’m John Loeffler at steelonsteel.com and here’s how it seems to me.

Better put, it’s funny how Americans allow themselves to be distracted by red herring debates that keep them from identifying the real source of their economic woes.

To listen to the politicos, our economic problems seem to rotate around whether the rich are paying their fair share of taxes, the key being a definition of “fair share.”

But when then dust settles, the tax code always seems to soak the middle class, which is why there are no jobs, because that over-taxed, over-regulated class creates 90% of our jobs in the country. Besides over 35% of the population pays no taxes. This is not sustainable.

The real problem is that we have a government that has spent itself into hideous amounts of debt, has squandered the social security trust fund, can no longer keep the social promises it has made, is promising a gigantic healthcare program it can’t afford, and will not engage the fiscal discipline to keep us out of the next financial crisis, which is just months away.

That’s the problem and no amount of soaking the rich can deal with the onrushing economic storm, which will make the subprime mortgage crisis look small by comparison.

We must hold our politicians’ feet to the fire on the issue and not allow them to wiggle out of it with diversionary issues. If we don’t we’re the ones who will get burned.

I’m John Loeffler at steelonsteel.com and here’s how it seems to me.

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