Sunday, December 15, 2024

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By young

In his August 3 letter to the editor, James Davis of Avalon makes certain errors. Lets take them in order. He writes that in my June 29 letter, I stated that the National Debt was 8.4 trillion end of fiscal 2008. Incorrect, I wrote that was the total at end of fiscal 2006 before the democrats took control of Congress in 2007 and 2008. It was 10. 7 trillion at the end of fiscal 2008 after 2 years of unrestrained Pelosi and Reid spending. From the beginning of Jimmy Carter’s presidency to today, National Debt has increased to $14.5 trillion. Democrats (14.5 years in office) increased Debt by $5.5 trillion (average $379 Billion per year), Republicans (20 years in office increased Debt by $800 trillion (average $400 Billion per year). Davis’ figure of 84% attributed to Republicans is out of the Democratic playbook. Congress can enact legislation contrary to what Davis states. The President can approve or disapprove by Veto. Congress can override a Veto thereby enacting legislation. George W Bush exercised veto over 12 Bills (not 44 as stated by Davis), 7 of which had fiscal effect. One Bill was vetoed thru 2006, 11 vetos came in 2007 & 2008, 3 of these vetos were overriden by Congress. Tax cuts enhance Revenue Review what happened after John F Kennedy and Ronald Reagan also cut taxes. Davis contends that at least 1/2 of the Debt increase under Obama can be attibuted to interest on inherited Debt. Debt and interest thereon are paid every month, as a priority, out of current revenues and not added to Debt. (otherwise Default happens). Increases in Debt come from other items such as a failed stimulus progam, cash for clunkers etc. not paid out of current revenues. Davis cited a cute Baseball anology. His relief Pitcher named Barack comes into the game with his team trailing 10-0 . He allows 4 more runs and 2 more will score to make the score 16-0 (per CBO end of 2012) Because he allowed 6 more runs, he will be downgraded to AA based on poor and ineffective performance. A new and competent relief Pitcher will be hired.

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