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Generations Join Forces to Battle Looming Debt Crisis

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budget workshop still

PELLA, Iowa- Central College students took some time to meet with members of older generations to try to come up with a solution to the nation’s growing debt problem.  The non-profit Concord coalition, which is dedicated to reducing and eliminating national debt sponsored a budget exercise at Central. The purpose was to ask people how they would handle the problem.

Estimates are, within ten years over 75% of the nation’s budget will be committed either to entitlement spending, such as social security, and the interest on the debt.  The country would have only 25% of the budget to use as discretionary spending.

To facilitate the exercise, two former Iowa congressmen can to Pella to keynote the event.  Former Northeast Iowa Congressman Republican, Tom Tauke, and former Central Iowa Congressman, Democrat Leonard Boswell spoke to the group.

Sara Imhoff of the Concord Coalition presented the two-hour exercise, where participants were given a series of choices to make regarding the budget.  Each choice had a score to show how it would impact national debt, either increasing, or reducing.

Student attendees were mixed in with older generations to give a balanced perspective to any solutions put forth.

The Concord Coalition is sponsoring events in Iowa prior to the Iowa Caucuses, so voters can ask candidates how they would deal with this problem.  Another forum on social security will be held next Tuesday at Grand View College in Des Moines.

 

2 comments

  • John Smith

    The amount of annual debt as a percentage of GDP has shrunk significantly since President Obama took office. And, budget deficits had shrunk to non-existence under President Clinton. So, it IS possible for the US to manage its affairs, providing we don’t elect another POTUS who wants to cut taxes and go to war at the same time. Or, cut taxes but build a 600 ship navy that even the navy doesn’t want, at the same time.

    The trick is, and has always been, to balance taxes with spending, and to reject politicians who adhere to failed supply-side economic theory while spending taxpayer money like a drunken sailor on shore leave. Because, no matter how often they repeat their nonsense to get elected, it is simply NOT POSSIBLE to cut taxes as a means to generate prosperity. It does not work that way. And, it never has.

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