I realize that Obama has borrowed about $6.5 Trillions while the Republicans have demanded spending cuts.. Now this is the confusion - Obama borrows $1 Trillions from the Chinese while cutting spending more than the $1 Trillions he borrows. So, why does he need to borrow anything at all?
The answer is easy and has nothing to do with Economics. It's all tied up with the need of politicians to get reelected periodically. If a Senator or Congressman cuts spending to the Elderly, Hispanic, the poor or some other self interested group they run the risk on not continuing in office. So the real question is how do you get around this problem?
Obama's answer seems to be BLAME THE REPUBLICANS FOR EVERYTHING. But that's both incorrect and unfair.
My solution is to limit terms of office to all Senators and Congressmen to 1 4 or 6 year term. They won't have to worry about being reelected and can concentrate on the real problems in this country.
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