By John Fedele

I have been accused of over simplifying solutions to problems.  This may be one of those times, but consider the following:

The administration and the GOP are locked in a battle to raise the debt ceiling.  Both are predicting dire consequences if it isn’t raised. Both are wrong.

The problem is an age old one.  The democrats think the debt problem can only be solved by raising taxes; the GOP believe it can be solved by cutting spending and reducing taxes.

Here are the facts.  You decide.

The Federal debt consists of treasury bonds savings bonds and notes sold to raise money for the government.  That is the Federal Debt. We borrow this money to supplement the Governments income, from Taxes and fees, in order to pay for the governments obligations which consists of government programs and the departments required to run those programs, and to pay for the running of the overall government.

When the government spends more than it takes in they borrow, but the law states there is a limit as to how  much the government can borrow.  When the debt ceiling is close to being reached or is exceeded, the government must vote to increase the limit of default on the debt.  We are there.  The debate is on.  You need to consider this information and then act:

We will not default on the debt.  We take in enough money to pay off the maturing bonds and interest.  What we cannot pay for are the obligations.  The two parties in the debate now spin the facts and myths to prove their argument.  Raise the ceiling and raise taxes to pay down the debt and pay for the obligations.  It would work if the government did that.  What they do is add more programs.  They already are saying we need to raise the ceiling, raise taxes so we can pay for the new programs the administration has planned.

The other party in the debate says no taxes, and we must cut spending.  It would work if the two parties could agree on what programs to reduce or cut, what departments to cut or eliminate, and set the stage for the much needed balanced budget amendment to the constitution.

I fear, in the end we, the voters, will get a “chicken” solution.  Both parties will compromise so both can claim victory and still blame the other for not being able to come up with a better solution.

It is time for the voter to make a statement.  Letters, phone calls, and a promise to eliminate your representative in the next election unless he or she fights for a balanced budget amendment.  It is needed so we do not go through this process again and again.