Thursday, Dec. 27, 2012 | 2 a.m.
I understand the president’s position that raising taxes on the middle class and/or making large reductions in spending in this slow economy might very well send the country back into a recession. There are two problems with this position, however.
The first is that our government can never seem to find the right time to impose higher taxes across the board and/or to really reduce government spending. The second is that commissions and studies continually find hundreds of billions of dollars of waste, duplication and fraud in just about all government programs, yet this issue is never addressed.
Both parties, the Congresses and our presidents are to blame for allowing this to continue. Unlike many Americans, I have a real fear that continuing to do next to nothing about this problem is likely to lead to a debasing of the value of our currency, which will affect every American, rich, middle class or poor. Just like in our own lives, there is a point at which spending more than one can afford results in disastrous consequences. America is not immune.