Senator Coburn speaks at the Debt Commission
A short video that you might find interesting. Tom Coburn delivers a somber speech about the tough choices America has to make in order for our country to hand over a better life to the next generation. He is unhappy with the current proposal, but believes that despite it's flaws the proposal must move forward. His primary idea is rooted in the knowledge that so far in America no one has actually proposed a legitimate solution or even the start of a solution to our impending crisis. The crisis as he sees it actually is quite simply the ability to service our debt in the short term future as interest rate payments rise. He is correct. At the moment we spend about 200 Billion a year in interest payments alone, with the rate of borrowing happening today and the extremely high probability of bonds selling off the rate payments by 2015 will double or triple. If the employment situation does not improve and taxation is unable to mop up the deficits then A...