Saturday, November 13, 2010

It Will Be A Bumpy Ride

The preliminary report by President Obama’s bipartisan debt-reduction commission recommended many painful changes in order to rein in the unsustainable national debt, including increasing social security collecting age with reduced benefits and the inevitable tax increases, which drew fire from both left and right, who vowed to defeat these measures.

Perhaps, only perhaps, there are alternative means to any specific solution, but there is absolutely no alternative to shared pains - both the rich, the poor and those saddle in the middle will have to give some, and the way of life most Americans have been enjoying for generations will have to change.

Otherwise, the abyss will grow deeper.

The problem is not only the federal issue.  In California, about only a month after current year's budget passed with 100 days' delay, emerged another $6 billion deficit and it is projected that there will be $25.4 billion deficit in next 20 months.  California's current fiscal year budget is $86.6 billion.  Petulant Californian voters just approved a spate of propositions which would tie governor and legislators hands further and will make it even more difficult to solve this problem.  The state is golden no more.  So are many other states.

People might choose to behave like ostriches but that won't stop our descending to the netherworld.  True, we are still in economic crisis therefore those austerity measures must be introduced in the (near) future instead of now.  However, act we must.

In order to act, we need a national leader who will educate the masses and persuade people to accept hard choices.

Next few months would be crucial for Obama to achieve this.  I surely hope he will change his hands-off style as displayed disastrously during Health Care Reform.  He hid behind the congress and Nacy Pelosi's skirt and allowed his opponents to convince people, including those who'd benefit the most from the reform, that the good bill was actually poisonous.  He cannot hide again, behind the deficit commission this round.  He must man up and lead. 

We don't need an Obamiccolo.

House of Hope / 希望之家 / Haus der Hoffnung
House of Hope
© Matthew Felix Sun

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