Sequestration, which some with moans of inevitable gloom call the “fiscal cliff,” is rapidly approaching. Now, while I am an opponent of most taxation, I see this as the opportunity of a generation.
We have just celebrated Veterans Day, commemorating all who gave some and some who gave all. I suggest it is time for the rest of us, those who have for decades enjoyed liberty, to give something more. We have an opportunity to address exponential defense spending and ever-increasing discretionary spending.
If we reach sequestration, then we must cut defense by 20 percent and discretionary spending by the same 20 percent. This will be done with less influence by the lobbyists clamoring for tax dollars. There will be great elbowing at the treasury trough for a greater share for each supplicant of the lesser gruel, but the actual amount available will be dramatically reduced for the first time in decades.
Some will cry that the sky is falling and predict the recovery will be slowed, that unemployment will increase and that families actually will pay more taxes, but this will only be in the short-term. This is but a small price to pay for the long-term benefit that may be gained.
To allow sequestration to occur could usher in a sea change and be the catalyst that breaks the tax-and-spend paradigm and redirects government to find other ways to cut discretionary spending. No person, company, state or nation can continue to run up deficits that are funded by borrowing 40 cents of every dollar spent. Will we have to give up “some?” Sure. Will it hurt? Some.
If our brave veterans and military personnel can “all give some and some give all,” can’t we give up some to save posterity and our nation?