Friday, October 17, 2008

Candidates fail to address entitlement reform, fail to earn a vote

The President of the Peterson Foundation and former Chief Accountant for the United States, David Walker, has said that if a candidate refuses to address the fiscal tsunami America faces (if we fail to enact entitlement reform), then that candidate doesn't deserve your vote. Here is one example of his simple reasoning:

And the Courant editorializes that candidates for federal office are not addressing this issue in substantive terms:

But there has been little said about entitlement reform on the campaign trail this fall. Presidential and congressional candidates don't want to touch this hot topic with the proverbial 10-foot pole. They have approached it only in the most general terms.

Mr. Obama said he would cut a $15 billion subsidy to insurance companies and would go over the budget line by line and cut programs that don't work. Mr. McCain favors a spending freeze — but would exempt the military and veterans budgets. He said he'd veto all earmarks, which this year total about $18 billion. These are inadequate answers on the part of both presidential candidates.

What surprises me is that with McCain's prospects looking so bad... why doesn't he swing for the fences and deal with reality? America is facing the collapse of the dollar and financial ruin. Seems to me that now is as good a time as ever to dustoff the Straight Talk Express, stop talking lipstick and deal with reality.

I doubt this would resuscitate his campaign. But if he gave some truly honest answers on fiscal policy and simultaneously addressed monetary policy (calling for an end to fiat money)... then his party may have a fighting chance in 2010.

Without a setup man in 2008, I don't see how the GOP mounts a real comeback in 2010. Though they may win seats... the country will likely continue to have no leadership on fiscal or monetary policy and the steady decline of America (including the dollar), will continue... with Washington becoming more distant with each election.

Tim White

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