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Perot has been lampooned by comedians and pretty much forgotten by most Americans.
But in 1992, he had a very loyal and significant base of voters who supported his efforts. In La Crosse County, he brought people into political activism who had never participated before.
Why? Because people were worried about federal debt and the seeming inability of elected officials to balance the budget.
It’s surprising that there is no comparable Ross Perot figure now, because the federal deficit and the rising debt seem even more out of control than they did in 1992.
Part of the problem is demographics. With the aging of the huge baby boom generation, health care costs will continue to rise, putting more pressure on federal health and human services programs.
And part of the problem is that we have substantial military forces in Iraq and Afghanistan, and we think we can give ourselves tax cuts at the same time we pay for the war and for other government responsibilities.
Meanwhile, federal energy and transportation bills are loaded with pork for specific areas. Both parties do this. There does not seem to be a political party that cares about rising debt.
It’s like putting government expenses on a credit card while we seek to limit how much in taxes we pay. Sure, that makes sense. We’ll just burden our children and grandchildren with crippling debt. It makes no sense.
Robert Tanner, a national writer for The Associated Press, wrote two major stories about the national debt in August. He noted that the national debt translates into $145,000 for every American man, woman and child.
Asked what to do about this issue in national surveys, citizens say two things: Don’t raise taxes, and don’t cut spending.
No wonder our leaders are clueless.
It’s not just federal debt that’s growing. Private debt is rising, too, and Americans are saving only about $1 for every $100 earned. It used to be more. Our private savings rate was 8 percent in 1950.
When the government borrows money, it does so by issuing bonds. Who owns those bonds? Our economic rivals in China, to name one example.
The Concord Coalition, a private group that was formed in the early 1990s to raise the issues of federal spending and debt, notes that “Huge, continual deficits strangle the ability of even a nation as rich as ours to respond when emergencies arise or when new opportunities or problems emerge, including recession. With our government deep in debt and continuing to run huge deficits, we may find it impossible to shoulder new responsibilities.”
That’s a pretty bleak message. When will Washington start to pay attention?
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