Tuesday, January 27, 2009

Who cares about tomorrow?

Because it has worked so well lately, the GOP is advocating even more tax cuts, despite the ever growing debt of money we owe to others. So far, President Obama is having none of that. I wonder if that is because, as a fairly young man, he realizes it will be his generation (tail end of the Baby Boomers and Generation X) are going to be left to pay the bills left by the last 2 generations. If we and our children are going to be stuck with the bills, we should at least invest in making sure that the tools that will enable us to earn the money to pay these bills are available. However, some want more tax cuts so Americans can run to the mall and get the economy moving again.

I have to admit, I can see why the idea of tax cuts to juice the economy is popular, at least for the short term. After all, we are a consumer nation. We like to buy our way to prosperity, or at least put it on our credit card. And, as we've already seen, unless we can entice citizens of othernations to act like us and spend instead of save, no one will be able to buy the world out of a recession but us, so to heck with the future. Tweet. Time out! As someone fairly young (40) I'm a bit interested in what happens to this country's future as I hope to live in it for many more decades.

What has happened to this country that we are so afraid to sacrifice for a few years to right our economy for the long term? Enough of robbing from the future to buy more garbage we don't need today. We've already spent too many years not properly investing in our future. It's time to get back to work and stop squandering our legacy and the newest iPod or couch.

We've been exporting more money than goods for decades. There is already trillions in debt that needs to be paid. Social Security, Medicare will be broke before long. Our roads, rails and schools stink. Our competitors, such as India and China see the future and keep investing in science and math. We won't because it may interfere with that tax break that we need to buy an even bigger flat screen TV. Sooner or later those high paying, dominating jobs will go elsewhere because we had avacation to go on in lieu of increasing our brainpower. When that day comes we really will be at the mercy of the rest of the world.

Silicon Valley, where the world's leading industrial research labs are, know we are in trouble for scaling back our investments in the sciences and are worried about it. Technology has been delivering most of the innovation and profits for our economy for years, yet we refuse to invest in it because that would cause taxes to rise. It is not hard to see the coming storm andforesee a time where the US won't be the dominate player in the highly lucrative tech field that has given us robust jobs and superior weapons. But sure, lets cut taxes now so we can continue the party that should've ended years ago. I hear Nero has a fiddle and some matches for sale.

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