October 20, 2019

Guidelines for Presidential Debate Watchers

(1) The government does not create jobs. It can only create an environment receptive for the creation of jobs.

(2) Everything that the candidates propose must be paid from taxpayer dollars.

(3) Every federal employee is paid from taxpayer dollars regardless if they are a Senator, Congressman or woman, or a guard at a Federal facility.

(4) Any reduction in taxes effects the Federal budget and without a compensating reduction in spending will create an even worse debt ratio.

(5) The government has not had a balanced budget in over 20 years.

(6) The government is effectively “broke.” It is operating on borrowed money.

(7) This borrowed money has created what is called a “National Debt.” We owe ourselves via the issuance of U.S. Government marketable securities over $19,000,000,000,000 (that’s trillion) dollars.

(8) The interest on this debt is approaching half a trillion dollars each year and this interest will grow as the debt grows.

(9) The Federal Government entitlement programs currently in existence – Social Security, Medicaid and Medicare, and now the Affordable Care Act are consuming more and more of the Federal budget. Any new programs will create an even worse situation.

(10) Social Security is in trouble because not enough workers are paying into the program to offset the outflow of expenses. There is no Social Security Trust Fund left any longer as the Federal Government has drained the account to the tune of over $2 trillion dollars using this money for annual operating expenses.

(11) The Federal Government has no incoming revenue other than taxes.

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Written by
Donald Wittmer

DONALD WITTMER is a retired business executive who held key roles in the automotive and banking sectors. For a time, he also served as a Fiscal Agency Manager for the Detroit branch of the Federal Reserve Bank of Chicago. He received his undergraduate degree from Cincinnati's Xavier University, an M.A. in business management from Central Michigan University, and earned certification in bank operations from the School of Banking at the University of Wisconsin-Madison. A husband, father, and grandfather, he teaches part-time at the Kent Place School for Girls in Summit, New Jersey.

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Written by Donald Wittmer
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