I was viewing optical illusions on line last night and thought that it would be a great topic for a post.It is but not tonight.Thats because all day I have been listening to politicans spouting off about the national debt,usually with only a half and ear.After a while you can almost repeat word for word what the positions will be for both liberal and conservates.So I decided that it would be a good use of our time to examine the assumptions of both sides of the debate.
Let us start with the assumptions that the liberal side of the political spectrum uses when talking about the national debt.The first oblivious assumption that they make is that the national debt is not as important as the programs which they espouse.These are the social programs that usually are aimed at the the lower segment of the population.It is believed that spending programs that add to the national debt will in the long run be paid for because of increased revenue to the federal government.Therefore they argue that the increased in deficit spending is the only moral choice to help the poor.Now since they see this spending as necessary,if taxes need to be raised,it should be placed on those that are the wealthest.Now are these assumptions valid,Maybe?However before making a decision, compare it to the assumptions the conservates view point.
Now the assumptions that the conservates use is quite the opposite of the liberal view point.Some what oblivious don't you think.But just what are these assumptions.They are pretty straight forward.First of all it is believed that excessive spending will bring about two things.The first is that future generations will be saddled with the debt that is being accrued right now.Secondly it will bring about the collapse of the dollars and and increase in how much in intrest that will have to be paid to those that will buy our debt.This in turn will kill the economic growth of the nation,and thus kill jobs.To avoid this they argue we must not only balance our annual budget,but also cut spending especially in social programs,were the spending is the largest.Is this view point correct. Maybe.
Now that we have seen the basic assumptions of each side,we can compare and decide for ourselves. There is only one thing that I would like to point out;that in all likelyhood the correct way to deal with the growing national debt will will be a composite of the two viewpoints.However, as I pointed out in an earlier post, before you can have a valid discussion of a problem, you have to admit that your view point might not be completely correct. Will our politicans do that? What do you think?