Rearranging The Deck Chairs?

Sarah Palin's recent speech admonishing the
newly elected Republicans in Congress
for "rearranging the deck chairs on a sinking
Titanic" was on target.

This news source generally doesn't comment
on national news unless there's a significant
impact on Iron County, Michigan. This is one
of those occasions.

Standard and Poors has warned the US
Government that we're not matching other
AAA rated sovereigns, and that we have a
negative long term outlook by comparison:

"We have affirmed our 'AAA/A-1+' sovereign
credit ratings on the United States of America."

"...we have revised our outlook on the long
term rating to negative from stable."

http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245302886884

This is a prelude to loss of the AAA ratings we
presently experience. A change of as little as
1/10th of 1 percent in interest on the 14 trillion
dollars of national debt that we presently owe
increases monthly payments on that debt by
more than most of us can possibly earn in a
lifetime, even considering the sorts of inflation
we've experienced since the 1929 depression.
That small increase in an interest rate comes to
more than 1.5 million dollar increase (not the
payment, just the increase) per month. That's
roughly $14 million a year for each 1/10 of 1%
increase in interest. Who among us thinks for
an instant that the interest will increase by
only 1/10 of 1%?

How does that affect us here in Iron County,
you ask?

This county lives on grants. No more
infrastructure improvements, new police,
township, or county vehicles would be
available! The "deep pockets" that local
governments have come to rely on for
many of our needs on will be empty. More
paved roads will be graveled over.

The difficulty is, of course, that we depend
on political decisions to solve economic
problems that would be best solved by
knowledgeable hard-nosed non-political
economists whose only interest is in
stabilizing the economy.

The time has come for a new question to
be asked of the politicians in Washington.

"Ask not how much you can gift the folks
who vote for you. Ask, instead, what you
can do to improve this nation!"

Redistribution doesn't work!

Bill Vajk