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Obama should heed Day's fiscal advice

Mike Latham Stonington

Publication: The Day

Published 01/17/2013 12:00 AM
Updated 01/16/2013 04:46 PM

I am truly heartened by The Day's call for President Obama to finally lead on fiscal policy.

I'm also encouraged that you are focusing on Simpson-Bowles as an excellent starting position. My personal preference would be Rep. Paul Ryan's plan, "Path to Prosperity" because it does more to bring us into balance in a shorter timeframe, as well as going into more detail on the root causes of our fiscal problems.

However, I and many conservatives have great respect for Erskine Bowles (and most of the commission members) as he clearly understands that we not only need reform of the entitlements, we desperately need to reform the entire federal tax code, and lastly, we need serious plans (like energy) for job growth.

Most informed Americans now understand that we cannot tax, borrow or grow our way out of this fiscal mess.

I disagree with your opinion about not meeting our obligations if the debt ceiling is not raised.

There will be sufficient revenues flowing into the Treasury to pay the interest on our debt as well as approximately 60 percent of all other government functions. The remaining functions of lesser importance can be furloughed until an acceptable budget is hammered out.

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