Talk To Buddy: Compromise

Statement

By:  Buddy Roemer III
Location: Unknown

Question: Drew, Charlottesville
Hey Buddy, I am proud that you are pushing your agenda and trying to spread the idea that corruption and ineptitude are what define our capital right now. I don't see eye to eye on all of your politics, but I love what you stand for. How do you feel about the inability of the GOP to compromise with regards to the debt? I see Obama as at least trying to reach across the division between the two parties, and I'm curious how you would compromise to meet the needs of all Americans. GOOD LUCK!!

Buddy's Answer:
Drew, Great question and it so good to hear from you. Our Federal Government is spending substantially more than we can afford at present. We MUST be more focused and frugal with our spending or we will face bankruptcy. Inexcusable! The Democrats don't seem to able to find a penny in spending cuts and the Republicans can't seem to find any loopholes in the tax code. Both are wrong. I would concentrate on spending because there is so much waste, but some loopholes must be closed as well. I would reduce spending by 1 percent of GDP a year for 5 years, reducing Federal spending to 20 percent of GDP from its current 25 percent. This represents $140 billion a year reduction. I will give you some examples below. I would include loophole closings on corporations as part of the package. I would be clear and steady and show a written 5-year plan, where the politicians could see that everything was on the table and that this was being fairly done. I would start with eliminating all energy subsidies for oil, gas, ethanol, and unproven energy technology. I would add the elimination of the Dept. Of Energy which does nothing but get in bed with the big oil companies it is supposed to regulate (ie, BP). This one move cuts spending and loopholes by $1.4 trillion over 10 years, and reduces the deficit by $140 Billion a year beginning now! The President has proposed nothing but fancy speeches about getting along. He has NO plan. I'm a banker Drew. Built a Billion bank with zero federal subsidies. Turned a State around facing bankruptcy. You must be specific, credible, forceful and have a multi-year plan to get out of this big,big hole. Obama is just like the rest of them: pretty speeches, looking for the big Wall Street checks, and desperate for re-election. We can do better! My second 1 percent cut would be to eliminate Fanny and Freddy housing agencies which nearly broke the country 3 years ago and are still surviving in Washington. I would also cut the housing and agriculture subsidies which make no sense in a nation where there is no housing demand, and the price of corn is at an all time high. This totals another $140 billion. I could go on (foreign aid, 1100 military bases overseas, nation building in Afghanistan, etc., including making insurance companies compete, raising the retirement age for social security and Medicare by one month a year for 24 years), but you get the picture: Clear plan, Multi-year, Everything on the table, Fair in the approach with seniors and the young, Work toward creating jobs by protecting the ones we have from Unfair Trade, And finally go over head of the Congress and straight to the American people. The key is refusing to listen to the fat cat, special interests with big checks. They have never made more money. They pay Obama $35,000 a ticket for Wall Street fundraisers. I listen to no more than $100 and no PACs. Our best days are ahead of us. All we need is a President Free to Lead a rising America. I'm old enough to know what to do, and young enough to get it done. I'm the only person running who has been a Congressman and a Government. Been out of office 20 years, learning and growing. I'm ready Drew. Help me. Thanks for your question.