Category Archives: Taxes

Paying It Forward.

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Renewing the Emergency Unemployment Compensation bill would add $25.2 billion to the current federal budget. Right wing politicians and media outlets tell us that we can’t afford such “giveaways” unless they are offset by other spending cuts. Oddly, they have no such requirements for subsidies to defense contractors, the oil industry, the financial industry, big Pharma, corporate agriculture and other large interests.

But for a program that will prevent 1.3 million people from falling into the abyss? Teapublicans believe that cost needs to be offset!

Certainly saving $25.2 billion sounds good. But, in government, saving money always comes at a cost. In this case, it’s not difficult to imagine the human cost of taking away the only source of income for 1.3 million people…people who have been unemployed for six months or longer. People who are discriminated against by employers who think there must be something wrong with someone who has been unemployed for so long.

And there are other costs.

As journalist Bill Moyers reports, “Harvard economist Lawrence Katz estimates that the expiration of benefits for the long-term unemployed is costing the economy $1 billion per week.” Others estimate the cost to our economy at $400 million a week. Whichever figure is correct, that means the cost of extended unemployment benefits is already offset by what the program contributes to the economy.

Economists confirm that money spent on such programs goes directly into the economy. After all, what else are the long-term unemployed going to do with the money? Save it? Obviously, they spend it. They use it to pay for food, gasoline, utilities and other necessities. It’s not enough to allow them to live comfortably. But it helps. And that money stimulates other portions of the economy. It contributes to sales taxes. It contributes to the profits of local businesses which, in turn, pay income taxes on the money. As a result, the money finds its way back into federal, state and local governments as revenues.

It’s a win-win. It’s taxpayers paying it forward to help their struggling neighbors. Anyone who would say otherwise is cruel and heartless.

Oh wait! I just described today’s GOP.

The Conservative War Against Labor.

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In the years following the Great Depression, labor unions were popular and thriving. The Wagner Act of 1935, also known as the National Labor Relations Act, guaranteed workers the right to collective bargaining and the right to strike. As a result, union workers, particularly those in mining and manufacturing, experienced dramatic gains in salaries and benefits, along with safer working conditions.

Corporations didn’t give up these things without a fight. But public sentiment was temporarily on the side of workers and World War II demanded unity between corporations and unions.

The end of World War II and the beginning of the Cold War gave corporations a new opportunity to undermine unions with the rise of Sen. Joseph McCarthy (R-WI) and his House Un-American Affairs Committee (HUAC). Likely emboldened by President Truman’s loyalty program intended to discredit Democratic rival Henry Wallace (former V.P. to FDR, nuclear disarmament advocate and pro-labor candidate) prior to the 1948 presidential election, McCarthy launched a witch hunt in search of communist sympathizers. News of the Soviet Union’s growing nuclear capability spawned a national paranoia that allowed McCarthy to portray labor unions as a communist front .

By the time McCarthy’s lies and un-Constitutional tactics were exposed, hundreds of Americans had been imprisoned, thousands more had lost their jobs and tens of thousands had been investigated. The victims included those who had supported Wallace, civil rights leaders, union leaders…even the unions’ rank and file.

The unraveling of the HUAC may have posed another setback for corporations and the wealthy, but McCarthy’s accusations left many suspicious of organized labor, even as labor unions continued to help build the middle class. Finally, in the 1980’s, anti-union forces suceeded in electing a president sympathetic to their cause – Ronald Reagan. When the Professional Air Traffic Controllers Organization (PATCO) went on strike, violating a law banning strikes by government workers, Reagan fired all 11,345 members who failed to return to work.

Reflecting on the event, former Federal Reserve Chairman Alan Greenspan commented, “His [Reagan’s] action gave weight to the legal right of private employers, previously not fully exercised, to use their own discretion to both hire and discharge workers.”

The war against unions resumed in earnest.

Corporations began sending jobs offshore in search of labor willing to work for low wages and without benefits such as health insurance, disability insurance and unemployment insurance. The export of jobs also eliminated the need for worker pensions. (In the years since Reagan’s election, more than 85,000 defined benefit pension funds have been eliminated.) Many of the jobs that can’t be exported, like those at Walmart and McDonald’s, now pay so little that their employees require public assistance. And with fewer workers eligible to pay dues, many labor unions have been weakened.

Meanwhile, management compensation has soared. The savings on labor costs has resulted in million dollar annual salaries and bonuses for executives.

With money comes influence allowing corporations and industries to successfully lobby Congress for subsidies, tax write-offs and lower tax rates. In addition, many corporations have been allowed to avoid taxes by creating Post Office box “headquarters” in off-shore tax havens. The resulting drop in tax revenue led to increased deficits and greater debt. But, rather than rewrite the corporate tax code and raise taxes on those who could afford it, conservatives have seized the opportunity to cut social programs. They not only cut food stamps. They have targeted Medicaid, Medicare and Social Security, as well.

Not surprisingly, conservatives have also taken aim at the labor unions which represent government workers, such as teachers, firefighters and police. In particular, they want to eliminate government pensions. The argument is that, if private workers don’t have pensions and benefits, why should government workers? If successful, conservatives will have turned the clock back to the gilded age; the days prior to labor unions; the days of extreme wealth and extreme poverty.

Some say that we already have two Americas. I would argue three.

One is the America of the one percent; those who make lots of money and pay little to no income tax; those who can buy influence by donating to political campaigns and build new businesses with government subsidies financed with the taxes paid by others.

The second is the America of hard work, limited upward mobility and shrinking investments. In this America, you work ever longer hours in order to meet the corporate demands of increased productivity. Each year, you are forced to do more with less. For you, retirement may be little more than a dream. And for your children, college will become a financial burden they may never be able to repay.

The third America is one in which people work for so little money they can’t afford many of the necessities of life. According to the Working Poor Families Project, one in three American families are now among the working poor. One in six Americans and one in four children don’t know where the next meal is coming from, or even if there will be a next meal. In this America, more than 630,000 are chronically homeless and 3.5 million will experience homelessness in a given year. For many of these people, there is little hope that their circumstances will change. They not only lack political influence, many face new laws and obstacles intended to discourage them from voting.

Both President Obama and Pope Francis have recently called economic inequality the biggest problem we face. But President Obama can’t reduce inequality in America by himself. We will need a Congress that represents all Americans. We will need a sympathetic and unified citizenry. And we will need organized labor.

(As a footnote, I should make it clear that, having become part of middle management almost immediately following college graduation, I was ineligible for union membership. But, like most Americans, I was able to take advantage of the improved working conditions, salaries and benefits negotiated by labor unions.)

Why We Can Never Return To The Nostalgic Post-War US Of The Baby Boomers.

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The Baby Boomers who comprise the majority of the Tea Party movement fondly recall the world of their youth; a world of cheap gasoline, muscle cars, rock ‘n roll, full employment and US world dominance. They want that world back. And they are convinced that the only thing standing between them and the world of their youth is a liberal, out-of-control government that wastes their money on freeloaders.

I have bad news for them. That world no longer exists. And it’s never coming back.

You see, following World War II, we were one of the few countries that had not suffered significant destruction. While much of Germany, Japan, Italy, France, Belgium, Poland, Great Britain and the Soviet Union had been flattened, the US was essentially unscathed. That led to unprecedented industrial production and wealth for the US. We produced an astounding 50 percent of the world’s goods and services…goods needed to rebuild much of the world. We held two-thirds of the world’s gold. And Americans were looking to the future by investing in education and infrastructure through increased tax rates.

For those in the US, life was good. Really good!

Now contrast that situation with today’s economy. Instead of making the materials to rebuild other nations, we must now compete with them. Instead of exporting manufactured goods, we have been exporting middle class jobs. Taxes are near 60-year lows, reducing revenues and forcing our government to borrow money in order to maintain our crumbling infrastructure. We are recovering from the worst economic conditions since the Great Depression and two unfunded wars. And, according to Teapublicans, it’s all the fault of President Obama and the Democratic-controlled Senate.

Say what?

The nostalgic world of the fifties and sixties was not the norm and never could be. Moreover, Americans got fat (literally) and lazy. We also got greedy. Instead of investing in our future, we cut taxes. Instead of maintaining our manufacturing base, our corporations became engaged in a race to the bottom looking for impoverished populations they could exploit in order to lower their labor costs. Instead of forcing multinational corporations to pay the true cost of energy and transportation, politicians enabled the export of jobs through government subsidies. And instead of promoting hard work and the American Dream, we eliminated estate taxes allowing the wealthy to create dynasties leading to unprecedented income disparity.

Truth is, today’s situation is the result of decades of bad political decisions…most originating during the Reagan administration. Doubling down on those policies, as the Tea Party demands, will not help. Instead of taking us back to the days of Leave It To Beaver, they’re more likely to take us back to the days of Oliver Twist and Scrooge.

Public Versus Private. Corporations Versus People.

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Ever since President Ronald Reagan said, “The nine most terrifying words in the English language are I’m from the government and I’m here to help,” conservatives have attributed virtually all of our problems to the federal government. They believe that the government cannot do anything well. As a result, they have continually cut taxes in order to starve the government of revenue, making it less effective and less efficient so it better lives up to their expectations.

At the same time, conservatives have pushed to privatize many government functions. Private, for-profit contractors now handle many of the functions that our military once did, including food service, transportation, supply and security. Both state and federal governments have awarded contracts to private prison corporations. Public education now competes for funding with private charter schools. Even our most sensitive spying and surveillance programs have been outsourced to private companies as evidenced by the revelations surrounding Edward Snowden.

But are these private entities really better than the government? Is the government really the problem? Much of the evidence says no.

The jury is still out on whether or not privatizing our military is a good idea, but there have been numerous embarrassing incidents in which private contractors were accused of committing war crimes. As for private prisons, studies have shown that they cost far more per inmate than public prisons, even though private prisons refuse to accept high security prisoners and those with chronic illnesses. And a study by Stanford University has shown that private charter schools perform no better than public schools.

Moreover, the 2013 Customer Rage Survey by Customer Care Measurement and Consulting and the Arizona State University W. P. Carey School of Business found that the percentage of people with customer service problems grew from 32 percent in 1976 to 50 percent in 2013. And 56 percent of those who complained in 2013 remain unsatisfied. Most telling is the fact that 98 percent of the most serious customer service problems involved private companies. Only 2 percent were associated with the government!

How can that be? Is it possible Reagan was wrong?

The truth is, our government is ultimately accountable to us. It may seem big and uncaring, but one election can change everything. On the other hand, today’s giant financial institutions and multinational corporations have little accountability to customers. Certainly, you can move your account from a large bank to a smaller one, but the likelihood is that it, too, is controlled by a large holding company. You can switch insurance companies and find that the new company is just as difficult to deal with as the previous one. Likewise, you can get rid of your cable company, but your satellite provider may not be any more responsive. Indeed, it may be worse.

The problem is not a matter of public versus private. Most customer service problems stem from bureaucracy – both public and private.

But our most serious problem involves both public and private institutions. It centers on the alliance between government and large corporations based on disproportionate access and influence. Consider, for example, the alliance between the George W. Bush White House and Richard “The Dick” Cheney’s former company, Halliburton, which was awarded billions in no-compete military contracts for Iraq and Afghanistan; or the alliance between Ohio congressional representatives (both Republican and Democrat) and the Ohio contractor for Abrams tanks which was awarded a contract for additional tanks that the Army neither wants or needs; or the alliance between Arizona Governor Jan Brewer’s staff and a private prison company which led to the company receiving multi-million dollar contracts for private prisons. There are many, many more examples.

Not surprisingly, many of the government’s most outspoken critics are conservatives who will gladly spend money to enrich their districts, their states, their corporate friends and themselves.

Conservatives Take Aim At Government Labor Unions.

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This year, conservatives are gathering lumps of coal for most Americans’ Christmas stockings. We can soon expect to see multi-million dollar assaults on many of the nation’s remaining social institutions and programs. At the federal level, conservatives in Congress are seeking to cut another $4 billion to 40 billion from the Supplemental Nutritional Assistance Program (SNAP), better known as food stamps. They are also targeting Social Security, Medicare, Medicaid, and unemployment insurance. And they are fighting attempts to increase the minimum wage despite the fact that large corporations have raked in record profits since the beginning of the Great Recession, and that wage growth is our main impediment to economic growth.

Conservatives are facing a severe time crunch in order to accomplish these goals. You see, the economy is finally showing signs of real growth. That means more Americans are working and paying taxes, thereby reducing the drain on social programs and lowering the deficit. As the deficit disappears so, too, does the conservatives’ primary argument for slashing social programs and cutting spending.

If conservatives are going to force more austerity and “personal responsibility” on poor Americans, squash labor unions, slash corporate taxes and head off a growing environmental movement, they have to do it now while the deficit is still inflated due to the effects of the Great Recession.

That’s why, as The Guardian reported, the State Policy Network funded by the Koch brothers is coordinating an all-out assault on government and social institutions in 34 states beginning early next year. The focus is on cutting pensions and wages for government workers, cutting budgets for public schools through voucher programs, and combatting attempts to reduce greenhouse gases. But, undoubtedly, the primary goal of the campaign is to rid the country of labor unions, particularly those in the public sector.

Of course, virtually none of their goals are actually good for our country. They are, however, great for large corporations, their executives and their investors.

None of this should come as a surprise to anyone. Conservatives have been fighting organized labor since the 1800’s. Labor unions grew in the 1930’s following the Great Depression when workers realized that the economic collapse was caused by the rich and their insatiable appetites for more wealth. But labor unions have been under attack ever since. The attacks accelerated during the Reagan administration leading to a decline in union membership, the elimination of more than 85,000 pension plans since 1980, and the export of hundreds of thousands of American jobs. As more high-paying labor jobs were sent offshore, union membership further declined. At the same time, large corporations like Walmart fought to block the unionization of their workers. As a result, union membership declined 11.3 percent in 2012 alone. Simultaneously, corporate profits have soared. But that largess has not been shared with workers.

There is, however, one sector of our economy in which labor unions are alive and well. The percentage of union membership among government workers is now 5 times higher than for workers in private companies. Given their contempt for unions and government, that figure makes public sector unions a tantalizing target for people like the Koch brothers. Their control of workers and the disassembling of government won’t be complete until labor unions no longer exist, corporate taxes are eliminated and the federal government is reduced to the Department of Defense. (After all, somebody has to defend them from those who would like to claim part of their wealth.)

Want to learn more about the attacks on American workers? I highly recommend The Betrayal of the American Dream by Barlett and Steele.

Exactly What Are Teapublicans Trying To Protect Us From?

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In shutting down the federal government, GOP congressional leaders said they wanted to save us from the Patient Protection and Affordable Care Act, (aka “Obamacare”). In other words, they want to save Americans from an idea that they, themselves, proposed in 1996 and successfully implemented in Massachusetts as an alternative to universal health care.

So what great evils are they trying to keep at bay on our behalf?

They are trying to block our access to online marketplaces that will allow hundreds of thousands of Americans to choose more affordable options for health insurance. (Yes, HealthCare.gov will soon be fixed and, if the experience of Massachusetts is any indication, customers will wait until the last few weeks to sign up.) They are trying to overturn a new government rule that prevents insurance companies from denying coverage for pre-existing conditions. They are trying to overturn a new rule that prevents insurance companies from terminating policies rather than pay the costs of medical treatments. They are trying to save us from the tax credits we’ll receive for purchasing health insurance.

The GOP and their wealthy contributors are trying to save up to 50 million Americans from being able to afford private health insurance for the first time. They are trying to keep parents from adding adult children up to age 26 to their own insurance policies. They are trying to save us from subsidized preventative care that will help identify medical conditions before they become more serious (and expensive) diseases.

They are trying to make sure that those who already have health insurance will continue to bear the costs of the uninsured who use the Emergency Room for routine health care visits. They are trying to preserve Washington’s largest group of lobbyists. Teapublicans are trying to ensure that the cost of health care benefits continue to encourage large corporations to ship middle class jobs overseas. Finally, they are trying to ensure that increases in health care costs continue to outpace inflation and that the cost of prescriptions will continue to skyrocket.

It’s obvious we need someone to rescue us for these self-proclaimed rescuers!

How Small Of A Government Is Small Enough?

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For years, Republicans have demanded a smaller government with limited powers. Indeed, Grover Norquist has said, “I want to shrink it down to the size where we can drown it in the bathtub.’

Okay, I get it. Republicans really hate government. But given the fact that our federal government is already the smallest in 47 years, and given that the size of our federal government ranks just 120th in the world as a percentage of GDP, when will Republicans consider it small enough to drown in the proverbial bathtub?

Exactly how small is small enough?

Roughly a third of all US federal employees are dedicated to national defense. Another 10 percent are in the Department of Homeland Security created by the Bush administration following 9/11. Yet another 10 percent are in law enforcement and prisons. According to Republicans, all of these people are necessary. In fact, Republicans constantly call for increasing the size of our military and border security!

That leaves roughly half of all federal employees to manage all of the remaining functions of government. Of those, nearly half work for the quasi-governmental US Postal Service. Do we no longer need mail service? If not, who is going to deliver your bills, your payments, your magazines, your checks? (Not everyone has access to the Internet, and it has not yet proven to be secure.)

The remaining 600,000-plus federal employees manage all other aspects of government. So what goes? Do we get rid of the IRS which collects the revenue to run our government? If so, how does the government get the money it needs to operate? Do we actually expect it to run on private donations?

Do we eliminate Social Security, Medicare, Medicaid and food stamps? Then what happens to the elderly and the poor? Do we eliminate unemployment insurance? Then what happens to those who can’t find work?

Do we eliminate our federal court system? Do we eliminate our foreign embassies?

Do we eliminate government regulators? Then who becomes responsible for food safety, drug safety and transportation safety? Who keeps banks from taking all of our money and causing a complete collapse of our economy? Who keeps corporations from defrauding our citizens, pillaging our land, dumping industrial waste into our waters and poisoning our air? Who builds our highways? Who keeps hunters, fishermen and commercial interests from “harvesting” species into extinction? Who keeps corporations from clear-cutting our forests? Who subsidizes research and our universities?

It’s one thing to say that government is too big and out of control. It’s quite another to face the reality of living in a plutocracy with corporations and the greedy allowed to completely run amok.

If Corporations Are People…

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In its Citizens United decision, the US Supreme Court ruled that corporations are people – with all of the rights of individuals. The “justices” didn’t mention the responsibilities that go along with those rights. Like the responsibility to care for your neighbors.

But, just for a moment, let’s assume that those five old men in black robes who voted in the majority were right. If corporations really were like people, one-sixth, including their CEOs, would be unable to afford health insurance. One-sixth would not have enough food to eat. They would not be able to afford lobbyists. Few would have pension plans and large investment accounts. Most would not be able to retire when they became elderly. And most would not have enough money to contribute to political candidates.

If corporations were like people, they would not be able to negotiate a plea after committing illegal acts, then pay a small fine and deny any admission of guilt. They would go to prison.

If corporations were like people, they would receive no tax-free subsidies to acquire space and land. They would have to pay property taxes on their buildings. Other states and cities would not offer them millions in incentives to relocate. All but a tiny percent would have to pay their fair share of sales taxes and income taxes.

And what if the members of Congress were like the people they’re supposed to represent?

Instead of being paid $174,000 per year, representatives would be paid an average salary of $50,502. Half would make less than $27,000 and 16 percent would live in poverty. Some would be hungry and homeless. They would have no staff to do their work for them. They would actually have to read the bills before they vote.  And they wouldn’t begin fundraising and campaigning for the next election the day after they’re elected.

We’ve come a long way from the representative government our Founders envisioned. A lo-o-o-o-o-ng way!

A Nation Of Crises.

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Every day I receive dozens of emails and letters asking me to help save the oceans, save the environment, save children, save wildlife, save food stamps, increase the minimum wage, stop voter suppression, stop global warming, stop the pipeline, stop racism, stop the attacks on women’s rights, stop the attacks on education, stop the attacks on science, demand gun control, end hunger, end poverty, etc., etc., etc…

It’s all very depressing.

Of course, these are all very real and serious issues, and the organizations asking for help are well-run and well-intentioned. They deserve our support. But I finally realized that all of the issues are related. They are all the result of corporate greed and ideological candidates supported by billionaires and big business.

Our oceans are being destroyed by greedy oil companies and by large, commercial fishing operations. Our air and water are being polluted by corporations who would rather dump toxins into the environment than sacrifice a portion of their profits to clean up after themselves. Poverty and hunger are the result of corporations who are more intent on rewarding investors and executives with large bonuses than paying workers a livable wage. Global warming is the result of corporate-backed congressmen who prioritize subsidies for oil companies over subsidies for alternative energy sources.

Many chronic health issues and diseases are the result of corporate farming practices and food processing companies that intentionally poison our food in order to increase profits. The attacks on science, education and voter rights are designed and paid for by large corporations in order to maintain control of our government. The lack of funding for social safety nets such as food stamps, Social Security, Medicaid and Medicare are the result of corporate fraud and abuse, as well as tax loopholes that allow corporations and the wealthy to avoid paying their fair share of taxes.

Almost every one of our problems is the result of large, multinational corporations and the billionaires who run them treating the Earth as a source of commercial resources and people as commodities.

Since I can’t afford to donate to every good cause, I’ve decided to donate to candidates who place people above corporations.

I will vote against candidates who support corporations that pay employees a minimum wage while paying CEOs millions; that damage our environment and our food supply. I will vote against those who accept large donations from such corporations regardless of which party they represent. I will not spend another dime to purchase products and services from corporations that harm our citizens, our nation and our environment.

If corporations only care about money, I will deny them the thing they want most. I hope you will consider doing the same.

Who’s Really Responsible For Our National Debt?

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It’s popular for the Republican Party to blame our $16.7 trillion debt on President Obama. Certainly, like all presidents, he has some responsibility for it. But a much larger share of the responsibility goes to President Reagan, President George H.W. Bush and, most especially, President George W. Bush.

You see, the increase in spending in 2009 following the economic collapse of 2008 should rightfully be attributed to the Bush administration. That’s because the 2009 deficit was the result of a spending bill, including the Troubled Asset Relief Program (TARP), authorized by Congress in October of 2008 and signed by President Bush months before Obama took office. In fact, spending in the first year of any administration is always the result of the previous administration. Properly credit 2009 spending to Republicans, and you’ll discover that President Obama has been responsible for the lowest spending increases since Eisenhower. Similarly, he is responsible for the most rapid cuts to our deficit in more than 50 years!

While it’s true that the debt has increased 18.5 percent since Obama became president, as discussed, he should not be held responsible for most of that increase. Even so, it’s still less than the 20.7 percent increase in national debt that accrued during George W. Bush’s second term. And it’s only marginally greater than the 13 percent increase during Bush Sr’s term, and the 11.3 percent increase during Reagan’s first term.

A better measure of Obama’s spending comes courtesy of Rick Ungar, a contributor to Forbes Magazine (hardly a bastion of liberalism). According to Ungar, in President Obama’s first term, overall government spending grew just 1.4 percent as compared to 7.3 percent in George W. Bush’s first term and 8.1 percent in Bush’s second term!

So why do Republicans continue to place the blame on Obama? First, it’s a matter of political convenience to portray Obama as a “tax and spend” liberal. Second, the narrative is relatively believable since government spending skyrocketed during the first year of the Obama administration. Third, the media has done a very poor job of countering Republican misinformation.

In order to truly understand the federal debt, you have to look at the history of US borrowing.

Following the Revolutionary War, the US debt stood at roughly 35 percent of Gross Domestic Product (GDP). It again reached that level following the Civil War. In both instances, the debt was brought down by a combination of increased revenues and spending restraint. During WW I, the US debt again rose to approximately 35 percent of GDP. Before it could be paid down, our economy collapsed leading to the Great Depression. That was quickly followed by WWII. The two events caused the debt to soar to more than 117 percent of GDP. But, through a combination of post-war prosperity and income tax rates of up to 91 percent during the Eisenhower administration, the debt was again brought under control.

By the end of the Carter administration, the national debt had been reduced to 32.5 percent of GDP.

President Reagan’s expansive military spending during the Cold War once again caused the debt to soar, reaching more than 66.1 percent GDP. Under Clinton, it was reduced to 56.4 percent of GDP. Then, under George W. Bush, two wars (one of which was a war of choice) and lax government oversight led to the Great Recession – the worst economic calamity in nearly 80 years. At the same time, a Republican-led Congress cut taxes (and, therefore, revenue), particularly for the wealthy.

President Obama inherited a debt of more than 84 percent of GDP, along with a worldwide economic collapse, double-digit unemployment, spiraling health care costs, two wars estimated to have cost more than $6 trillion, a Congress that refused to rescind the Bush tax cuts, and a uniquely obstructionist Republican Party.

All of this was roughly the equivalent of combining the costs of World War II and the Great Depression without the primary mechanism needed to reduce the debt – taxes!

President Obama was left with few choices. He had to stimulate the economy through loans and tax cuts in order to put people back to work. This led to reduced revenue. He had to wind down the war of choice in Iraq as quickly as possible. He needed to stabilize the war in Afghanistan that had been allowed to languish under Bush at a cost of $1 million per soldier per year. Moreover, since few Americans had been asked to sacrifice for the wars in Iraq and Afghanistan, unlike World War II, they felt no need to pay for the wars through increased taxes. Indeed, even though federal income taxes were at a 50-year low, extremists funded by billionaires created the TEA (Taxed Enough Already) Party.

All of this led to the growth of our debt, which now equals nearly 102 percent of GDP.

Certainly, this debt is of great concern. But it’s not the short-term crisis Teapublicans would have you believe. (It’s the equivalent of a family earning $100,000/year holding a $102,000 mortgage.) And, without modest tax increases, there are few ways to reduce the debt.

One is to grow the economy, and according to most economists, including Lloyd Blankfein of Goldman Sachs, the economy is on the verge of significant, sustained growth if the nitwits in Congress would just get out of the way and stop dragging us from one self-inflicted crisis to another.

Two is to make cuts without adding to unemployment. (For example, we squander tens of billions each year on weapons systems that our military doesn’t even want, but Congress refuses to defund them because doing so would cost jobs.) And, once the economy shows sustained growth, programs such as food stamps can be cut – especially if we raise the minimum wage to reduce the large number of working poor who have little choice but to rely on government assistance.

In summary, contrary to what Teapublicans would have you believe, our national debt is not Obama’s debt. It’s the result of decades of wars, tax cuts, regulatory indifference, a struggling worldwide economy, out-of-control health care costs, greedy corporations that off-shore both jobs and profits, and a dysfunctional Congress that not only fails to help the economy. It makes decisions that are actually preventing economic recovery!

As a matter of fact, the Tea Party seems determined to force our nation into default. And, like the debt, they would have you believe that it’s all Obama’s fault.