We cannot tax our way out of our monstrous debt

Letter to the Editor

August 01, 2011

I am writing to express my fear and frustration about our ongoing debt crisis. I am a senior living on a pension and being kept alive by Medicare. As a senior, I have a lot of life experiences and know that we are spending more money than we can ever afford.

I hear the current administration tell us that if we only tax the rich more we can pay all our bills. Presently, the rich are paying nearly 70 percent of our federal taxes, and if we took all their money it would not begin to cover our current $3 trillion to $4 trillion annual debt and not even begin address our $63 trillion unfunded obligations. I would be willing to see some of my pension/Medicare reduced if there was some guaranted that my kids and grandkids would be able to enjoy some of life as I have over the past 71 years.

When this hard-working younger generation finds out that we have spent their future and will leave them with the bill, they are going to be even more angry that I am. It is important that we the seniors speak out now in 2011 and ask our members of Congress come to their senses and pass a Balanced Budget Amendment, as 49 states have, and not continue to spend more money than we can ever afford.

Bill Kelly

Ellicott City

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