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US Parties Withhold Truth from Voters

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TEHRAN, May 26 (ICANA) – US Vice President Joe Biden and senior lawmakers have met to discuss healthcare costs, one of the biggest stumbling blocks in their effort to forge a deal to tame America's growing national debt.
Thursday, May 26, 2011 1:15:11 PM
US Parties Withhold Truth from Voters

They are expected to examine government health plans for the retired and the poor, known as Medicare and Medicaid.

To learn about the implications of the failure to find a common ground, Press TV interviewed Paul Sheldon Foote, an Accounting professor at the California State University in Irvine.

Q: They [Vice President Joe Biden and senior lawmakers] have now begun discussing the healthcare costs. Where do you think this is heading and is this good news for the average Americans?

Foote: The problem is that neither political party [the Republicans and Democrats] dares to do the correct thing. If, for example, over your career you put 150000 dollars into a plan and then you have medical problems later on and you take out 450000 dollars, where is this difference going to come from? The current plan is a stupid plan but it is extremely popular. Neither party dares to educate the American voter as how stupid the plan is how badly it needs to be reformed. So the unwillingness to do that, plus all other areas such as the unwillingness to end wars around the world, leaves America in desperate economic situation. There is no way by simply cutting spending in the areas that have been suggested will come close to meeting the needs unless they are willing to totally reform the medical system and end the endless wars. Their only choice is to increase taxes and if they increase taxes, that will cause major problems for profitability of American corporations and, as your news report suggested, that has big implications around the world.

We saw last month, for example, the European Union started to investigate credit default swaps, we have hundreds of trillions of dollars in derivative markets around the world that are unregulated there are accusations of collusion. We have seen similar crises in America when Enron was involved and jacking up the electricity rates so much and the same thing is happening. For example, you used to pay three percent for your money and now you are paying 18 percent. When you multiply those difference in rates times the amount of money that the typical governments is borrowing around the world, you are deep in a hole and it is going very difficult for anyone to get out it, whether you are in America or any other country around the world that is involved in borrowing money.

Q: You said the American people may not yet be as aware of this as they should be. Do you think they will become aware soon and whether as a consequence of that do you see the Republicans and the Democrats suffering as the result of that?


Foote: They won't be aware until it is so bad that it is obvious to everybody and by that time the party that goes first, talking about it honestly will be so badly hurt at the polls that the dishonest party will win. So this is the game of the chicken that is being played between the two parties. Both parties know what the truth is but both parties know the one that tells the truth will be crucified and the one that tells the lies gets rewarded with reelection in office.

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