Is partisan gridlock leading to a national debt crisis?

The New York Times recently cited rancorous partisanship as one of  the chief causes of America's skyrocketing national debt.  Running $1.4  trillion budget deficits and having increased the debt ceiling to  approximately $14 trillion, our nation is headed toward certain fiscal  disaster unless a major policy shift is enacted.  And while Republicans  and Democrats continue to point fingers at one another, the debt spirals  out of control.

Democrats complain that the Bush administration  and the Great Recession forced them to help pass a $700 billion Wall St  bailout, author a $787 billion stimulus package, and commit to trillion  dollar deficits for years to come.  But, before the financial crisis  hit, a Democratic Congress approved huge budget deficits under President  Bush in 2007-2008.  And what about President Obama's record $708  billion military budget, which is larger than Bush's record  breaking "defense" budgets?  Surely that isn't Bush's and the  Republicans' fault?

Republicans claim to have rediscovered their  fiscally conservative platform once again, with Democrats in power, even  though they added trillions to the national debt, couldn't balance the  budget, and devalued the Dollar during the Bush years.  Suddenly,  running up the debt, breaking the budget, and hurting the value of the  Dollar are anathema.   But, many Republicans counter, "At least it  wasn't as bad as what Obama and the Democrats are doing now".  So much  for high expectations.

Simply put, Democrats don't have the will  to solve the debt crisis.  Why?  Because they won't cut Social Security,  Medicare, Medicaid, and the military budget, each of which are going  through the roof.  Tax hikes are considered as a potential remedy, but  serious spending cuts are not.

Republicans don't have the will to  solve the debt crisis, either.  Why?  Because, as was made abundantly  evident during their six year reign (Bush-Republican Congress), they  increased both foreign and domestic spending.  Tax cuts are championed  as the leading panacea, but tax cuts without spending cuts led to  trillions of dollars of additional debt during the Bush years.

In  addition, neither party advocates serious cuts because the majority of  economic pundits claim that America will fall into the Second Great  Depression if massive government spending and stimulus programs are  taken away prematurely.  A brief stint of intense, short-term pain, much  like the fleeting Depression of 1920-21 is seemingly out of the  question for politicians, especially during an election year, even  though it is highly probable that a bout of short-term pain is necessary  to right the ship.

As a result, America hurtles down the path of  financial self-destruction.  Already, our 10% deficit to GDP ratio is right in the range of the European nations  (i.e. Greece, Portugal, Spain, etc) on the brink of a debt crisis.   China, our biggest lender (at least until December), is beginning to dump its Dollar  reserves, which have served as the fuel for our insatiable borrowing  spree.  The warning signs of an impending debt crisis couldn't be any  clearer.

Before it's too late, perhaps we could apply a few  lessons from the Eisenhower and Clinton years.  Without going into the  fiscal details, President Clinton was able to balance the budget in the  late '90s with a Republican Congress, and President Eisenhower was able  to balance the budget and pay down some debt with a Democratic Congress  in the late '50s.  During the Clinton era  balanced budgets, the rate of domestic spending slowed down, the  military budget was cut (though the US still had the most powerful  military in the world), the US Dollar was strong, and unemployment was  low.  During the Eisenhower era balanced budgets, the military budget  was cut, domestic spending was sensible (though Medicare & Medicaid  didn't exist), the US Dollar was strong, and the Five-Star General  warned against the rising cost and influence of the military-industrial  complex.

Therefore, in response to the New York Times piece,  I would argue that partisan gridlock is not to blame for this nation's  debt crisis.  A Democratic President and a Democratic Congress aren't  getting the job done.  Formerly, a Republican President and a Republican  Congress didn't get the job done.  The Clinton-Eisenhower eras reveal  that deadlocked parties can generate balanced budgets, though it didn't  happen during the Bush-Pelosi-Reid tenure from 2007-2008.

If the  debt crisis is to be bravely confronted, I believe it will require a revolution of sorts to restore fiscal sanity.  A new  party will have to emerge, a well-funded Independent candidate will  have to arise out of nowhere, or a genuine "outsider" will have to  break the stranglehold of one or both major parties, as well as the  mainstream media. Some claim Sarah  Palin, the Tea  Party*, and the Liberty  movement are vying for a revolutionary role in 2010 and 2012, but  thus far, it would seem that Palin and the competing movements are too  cozy with the GOP to make a clean break.

Even more important than  a new party, renegade Independent, or political outsider will be the  American people.  Will we possess the courage, vision, and critical  thinking skills to chart a new course?  Will we have the intestinal  fortitude to make the tough decisions?  Will we take a step back from  the incessant, partisan vitriole promulgated by the likes of Rush  Limbaugh, Keith Olbermann, Sean Hannity, Chris Matthews, Bill O'Reilly,  and Rachel Maddow, and actually think for ourselves?

If we will,  then we may be able to turn the tide and get America back on track.

*Editor's  note:  for a more positive perspective of the Tea Party, read here.