What a Waste
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The Buffett Rule is dominating headlines in Washington this week. In short, the rule would generate $47 billion in revenue over ten years. On one side, we see the president using this issue to score political points against his very wealthy opponents and on the other, we see Republicans slamming the president for using ‘class warfare’ as a tool to get ahead in the polls.
And all I have to say to that is, what a waste.
With our current debt approaching $16 trillion dollars, both political parties in Washington are using all of their political capital, all of their talking points and all of their effort this week to argue over $47 billion over ten years. Meanwhile, the real drivers of our debt remain Social Security, Medicare, Medicaid, and Defense spending. Surprise, Surprise, none of those policies are being talked about in the current debate, despite the fact that they account for 61% of our spending this year.
It’s time to have an adult conversation about our economic troubles. Washington continues to squabble over tiny fractions of our debt while ignoring the elephant in the room, entitlements.
We need realistic solutions that are equal to the size of our challenges. Let’s stop arguing over small-minded solutions and tackle the real problem of entitlements. But, that doesn’t seem to be Washington’s attitude; instead, Washington continues to waste their time and our money.