Despite admonitions from credit rating agencies and China, everyone's sights seem focused on the 2012 election, rather than defining the best fiscal path for the country.
My usual optimism is eroding.
Nonetheless, to do what I can to influence the situation and relieve my increasing anxiety and frustration, I put fingers to keyboard (the modern version of pen to paper) and sent the following to Eric Cantor (the pivotal figure in the House), Speaker John Boehner, New Hampshire Representative Charles Bass, and New Hampshire Senator Kelly Ayotte:
I write to urge you to seek a compromise that will 1) allow the debt ceiling to be raised before the August 2 deadline and 2) not enable further erosion in the confidence of the U.S. Government. We already have the basis for a solution in the recommendations of the Bowles-Simpson commission.
To believe the debt can be comprehensively reduced by simply cutting spending and not raising additional revenue strikes me as ludicrous and an unreasoned adherence to ideology. I also find it somewhat hypocritical that the Republicans are pushing so stridently for cuts in spending, when the debt rose from $5.8-trillion at the end of FY2001 to $10.0-trillion at the end of FY2008, under a Republican President and when the Republicans substantially controlled Congress.
Please don't play politics. Do focus on the best outcome for the American people.
