“Each generation should be made to bear the burden of its own wars, instead of carrying them on, at the expense of other generations.” President James Madison
Muir Boda
Since Barack Obama has become President, he and Congress have become responsible for 1/3 of the current National Debt. Record spending levels for entitlements, war, bailouts to banks, businesses and states have paved the way for future unfunded liabilities to reach $100 Trillion.
Obama and Democrats, who hold to the Keynesian Theory of economics, spout the class warfare argument that we need to tax corporate jet owners, raise taxes on Millionaires and Billionares and preserve all the sacred cows of government. The clueless leadership in the Republican Party demand spending cuts, which what is offered is only symbolic. If both get their way to “close loopholes” and cut spending, there still is not enough money to reduce the National Debt which is the greatest threat to our National Security.
Both sides will agree to raise the debt ceiling. Essentially we are borrowing on the earnings of future generations, our children and grandchildren that have not joined the workforce or even been born yet.
Madison warned us of the need for each generation to pay for their wars. If he could have envisioned the burden we have heaped on the backs of future generations, he would have been appalled at the corrupt and morally decrepit actions of our elected leaders at all levels of government. I know I am.
Muir Boda is the Vice-Chair of the Maryland Libertarian Party and is the Managing Editor of IndependentWord.com.
I received a call this morning from MdLP Party Chair Bob Johnston that The Baltimore Sun published this version in their editorial section today. The thing is they did not have a dashing photo to go with it.
A libertarian view: Neither party is serious about debt reduction (Baltimore Sun Version)
President James Madison said each generation should bear the burden of its own wars, not foist their expense off on future generations. Since Barack Obama became president, he and the Congress have been responsible for one-third of the current national debt. Record spending for entitlements, war, bailouts to banks, businesses and states have paved the way for future unfunded liabilities of up to $100 trillion.
Obama and the Democrats, who hold to the Keynesian theory of economics, spout the class warfare argument that we need to tax corporate jet owners and raise taxes on millionaires and billionaires to preserve the sacred cows of big government.
Meanwhile, the clueless leadership of the Republican Party demands spending cuts that are only symbolic. Even if both parties got their way — by closing tax loopholes and cutting spending — the savings wouldn’t be enough to reduce our national debt, which is the greatest threat to our nation’s security.
Essentially, we are borrowing on the earnings of future generations, our children and grandchildren who have not joined the workforce or even been born yet.
Madison warned us of the need for each generation to pay its own way. If he could have envisioned the burden we are heaping on the backs of future generations, he would be appalled by the corrupt and morally decrepit actions of elected leaders at all levels of government. I know I am.
Muir Boda
The writer is vice chair of the Maryland Libertarian Party and managing editor of IndependentWord.com.
Independent Word 
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