I try to keep the posts fairly light on this blog, maybe even to conjure up a laugh at the expense of  my miserly ways.  But there is an organization that I am associated with that is trying to tackle bigger issues around the looming fiscal issues in this country.  One of my colleagues in the financial planning community who is also a part of this organization sent me this note this morning.  I thought I would repost for the benefit of the readers here.  It’s not meant to depress but more of a call to action.  I will get back to the lighter stuff soon:

FACT:  By 2019, 92% of all US tax revenue will be spent on Medicare, Medicaid, Social Security and interest on the debt.  By 2023 it will be 100% leaving NOTHING AT ALL for anything else…..roads, education, defense……the list is long.  Cutting fraud, waste, and foreign aid won’t make a dent in the problem. 

 Dear All,

 About a year and a half ago I decided to “just say no” if anyone asked me to be part of another board, another project.  But then in December of 2008, Phil Smith (political director of the Concord Coalition) asked me if I would chair the Atlanta Fiscal Advisory Council, one of 7 groups around the country that would work with very diverse groups of both grass tops and grass roots, first explaining about the very real fiscal crisis faced by our country and then working to find areas of agreement as a basis for moving toward solutions.  I simply thought “How could I possibly say no.”  Indeed, of all the things I’ve ever worked on, this is the most important and the most immediate. 

 I just got back from DC where each group delivered the reports that were compiled from our year long effort.  To get an idea of what I’m talking about you can visit:

 http://money.cnn.com/video/news/2009/12/09/n.deficit.nation.debt.concord.cnnmoney/

..or go to cnnmoney.com and search for “Deficit warriors storm Congress” under “videos”

This short video is a snapshot of the issue and the purpose of our trip.  I do have one line I think is funny.  You have to laugh or you’ll cry.

 http://money.cnn.com/2009/12/07/news/economy/citizen_suggestions_debt/index.htm

The article written by CNN in advance of our actual visit based on a summary report of our findings.

 http://www.concordcoalition.org/files/FAC_Full_Reports.pdf

The actual report.  The Atlanta section is first.

 www.iousathemovie.com

You can see a 30 minute version of this outstanding documentary that explains the basics.  An update of this documentary will be coming out later this year.

 After you see this I hope you will be alarmed enough to say to yourself, “What can I do?”  I have some suggestions:

·        Try to educate your friends, families, and co-workers about the problem.  Making the necessary changes will be painful and people have to understand why they need to swallow some nasty medicine.  Our government will never have the political will to do the right thing unless citizens demand it.

·        Stay informed….. the facts…… by accessing non-partisan information at www.pfpg.org  and www.concordcoalition.org   They both sponsor the Fiscal Wake Up Tour and had a big part in making the movie IOUSA.  They need your support in this very important work.

·        There are 2 non-partisan commissions that are trying to take the politics out of this:  Senate commission (Conrad / Gregg Commission http://senatus.wordpress.com/2009/12/09/conrad-gregg-to-announce-deficit-reduction-commission/ ); House commission (The Safe Commission from Cooper / Wolf  http://wolf.house.gov/?sectionid=202&sectiontree=7,202 ).  Write your Senators and Congressmen and urge them to support and listen to these commissions.

·        Be flexible.  The nature of compromise, the only thing that will move us forward, requires that we accept things we might not like to get the results we must have.   

 

Thanks for listening.  Now go be part of the solution. 

 Here’s to many more years of happy holidays.

Bobbie