Should Congress take a Leading Role in Managing Healthcare in the United States?

Jack W. O’Leary, former President of a Fortune 500 company in the U.S., observes that previous Congresses have already committed the entire Federal Annual Revenue for the next Federal Fiscal Year. The revenues (or more correctly taxes) have been committed to Social Security, Medicare, Medicaid, interest on debt and other entitlement programs.

Since the revenue for this year is already committed, new spending has to be borrowed further increasing the national debt. This will subsequently increase interest payments for future years. This will continue the spiral of borrowing and spending.

In 1912, Argentina was the sixth richest country in the world. They engaged in a similar borrowing and spending cycle and soon become a banana republic. Argentina has remained in this condition for 100 years.

By: Jack W. O’Leary
Rochester, N.Y.

Reported by: Mary Clare Lyons
Pompano Beach, Florida