Opinion : A need for fiscal responsibility and leadership : Sierra Vista, AZ
Home News Opinion Sports Community Blogs Lifestyle Classifieds Entertainment Archives About Us

Today's Weather


Weather Magnet

A need for fiscal responsibility and leadership

by Jim Sorrells
Special to the Herald/Review
Published/Last Modified on Thursday, Dec 04, 2008 - 10:18:35 am MST

In our American “feel good” society, we are facing the biggest financial crisis in history. Our media and politicians are not addressing this issue. Our national debt is being grossly understated. We have raided our Social Security and Medicare trust to fund our excessive spending. It is an accepted practice to either borrow the money from other countries or raise taxes. Eventually, all this borrowed money will have to be paid back by raising taxes. Our government is stating our national debt to be two trillion dollars. This is terribly inaccurate. If you count the money absent from the social security and medicare trust, it is about $58 trillion.

In about 10 years our interest payment, on this debt, plus Social Security and Medicare payments will consume our entire national budget. This is insane. We are trying to bail out private businesses, financial institutions and insurance companies. This is insane, as well. Our Congress is considering giving loans to bail out General Motors, Ford and Chrysler. If these companies cannot operate with profit, simple economics states they should not be in business. Our government should not reward bad business practices.

Our society has to get back to saving money and not trying to “keep up with the Joneses.” This reckless spending, by our citizens, has created grave credit situations. A huge number of Americans “feel good” by spending money, often when there is none to spend. We need to return to what got us to the dance as the hardest working and saving nation on Earth.


The housing crisis was created by speculation and greed. Simple economics will usually take care of pricing issues. The bottom falling out of home prices was simple economics. When the supply of anything becomes too great, prices have to fall. The result of this event creates affordability for young consumers who have saved their money for the American dream.

We have, for many generations, been the strongest nation economically. If we do not stop living the “Hollywood” fantasy that everything should be free, we will destroy our greatness. Politicians promise bailouts and “free” benefits. We do not need any new government programs such as free medicine, insurance or college. In other words, a free ride, at the taxpayers expense. We, as a nation, are so tremendously in debt that we will not be able to fund our current programs.

If there is no action and we continue unabated spending by our citizens and the government, we will have a total collapse of our American economy that will create a world crisis never seen before. Our government is edging close to collapse and foreclosure similar to what happened with the old Soviet Union. We need the strongest leadership who can say “no” to reckless spending to preserve our national security.

JIM SORRELLS is a Sierra Vista resident and former manager of the Wal-Mart location in Sierra Vista. Sorrells grew up in Arkansas, where he began working for Wal-Mart in the 1970s and was personally acquainted with the company founder, Sam Walton. If you have comments regarding his commentary, e-mail svhnews@transedge.com.

Copyright © 2009 The Sierra Vista Herald


Use the form below to post a brief comment to this story, or respond to other readers. Please use the word count tool to assist you in keeping your remarks to 100 words or fewer.

Comments appear once they are approved. Your thoughtful contribution to the online discussion is appreciated.

(optional)
Current Word Count:
   




    Wondering wrote on Dec 14, 2008 7:03 PM:

    " What is the reason that this article is on here for three weeks? "

    Time to Change wrote on Dec 12, 2008 12:08 PM:

    " I would like to see every federal program cut except defense (cut only in half) and social security. Drop everything else. If the state's want (and have the money for) other programs, let them enact it with their state taxpayer's money. Hurt? You betcha! But it is the only way to return to self-reliance. Stop all the "behavioral health" programs for drug addicts and averyone else with a nasty habit. Stop spending money on school busing and free lunches. Just stop intervening here and abroad. Government get out of our lives! "

    Independent wrote on Dec 6, 2008 3:01 PM:

    " Fair trade promoters and trade isolationists are two different people. If you think American workers can compete with $60 a week Mexican border factories and Chinese sweatshops then you are living in a dream world. Just visit Peking and tell me that global corporate and Chinese government greed has been good for their city or environment. That is if you can breathe long enough to speak. I think workers in the US should be able to make a living with their minds and hands. Not everyone can be a computer engineer. "

    Old Marine wrote on Dec 6, 2008 11:31 AM:

    " We have becone close to being a Socialistic government. Many of us contributed to social security and depend on that for income in our later years. And now it looks like that is being wasted away due to the mishandling of the program. Too many who have not contributed are being given proceeds out of that money. Politics have corrupted just about everything. "

    Robert Lynch wrote on Dec 6, 2008 9:27 AM:

    " First of all Mr. Sorrells there never was a "trust fund" either for SS or anything else. The whole sorry mess is a PONZI scheme. If you or I tried to do the the SS scheme we would end up in prison! Another Roosevelt "plan" that did not work.
    This country had greater unemployment in 1938 than in 1933 when the admirer of Stalin and Mussolini took power.
    Roosevelt did his best to destroy America and now we have his successor looking to complete the job.
    We not only have welfare lazy bums now we include lazy incompetent corporations. "

    Iris Lynch wrote on Dec 5, 2008 9:55 AM:

    " Jim, You are SOO right. However, we have a large percentage of leeches who expect to continue sucking away at the government teat. In a way, they can't be blamed, having been convinced (educated) from an early age that they deserve to be taken care of and have no responsibility to do anything for themselves. As a result, they are victims, as are we, the payers. However, the spigot is about to run dry as we open the doors to the world. With no jobs available, DC will soon resemble the Sahara. "

    the ultimate democracy wrote on Dec 4, 2008 5:42 PM:

    " Every human on the earth needs food, shelter and other basic needs. Every human desires to have the freedom to make choices in the marketplace and not be dictated what to buy by some government "authority". It is tragic on a global scale how trade isolationists would create an artificial world in the U.S. in which competitive labor and quality were shut out, and good people outside our walls starved while Americans would have fewer choices when comparing real value in the marketplace. "God bless America and nobody else". "

    Independent wrote on Dec 4, 2008 3:36 PM:

    " The commentator is partially right. The U. S. National debt is approaching our entire annual GDP. This has never happened before, not even during WW II. Our industries, including the automobile industry, is suffering from unfair competition from industries in other countries, assisted by their governments. In other words, economic warfare. But, we bought it hook, line and sinker, and much of it at Wall-Mart. Ironic, huh? "

    tiny violin wrote on Dec 4, 2008 4:11 AM:

    " Observer, you sound like a tired "old" person who is so deeply mired in cynicism and sour grapes that you REALLY need to get busy on a project or something. I and others obviously approve of Mr. Sorrell's comments. Why can't you just chill? "

    Observer wrote on Dec 3, 2008 2:13 PM:

    " TO: bd. If Mr. Sorrells is so brilliant (and I'll take your word for it), then we need him in Washington, D.C. as a leader, not someone who is retired at a young age--especially during these perilous economic times. He could take his understanding of Wal-Mart's marketing techniques to the hallowed halls and, together with Barack Obama, build the New Millenium. Why don't you and others form a committee to promote Sorrells and get him to run? Seems like that'd be more productive than sitting on his backside in a lonely little town in Southern Arizona. "

    bd wrote on Nov 30, 2008 6:28 PM:

    " I know jim personally and he is one of the most intelligent people I have every had the pleasure to meet. He is intelligent enough to be retired at a young age and will never have to work again. Instead of all the hostility and hatred during these hard times, try
    being kind instead. Walmart is a Great Company!!!! Like it or not!!! "

    Fat Murphy wrote on Nov 28, 2008 8:15 AM:

    " My wife clips coupons, we live within our means and we have always lived comfortably because we have a common goal. Walmart has made alot of money due to simple economics. Isnt that the American Dream? I believe the point that should be made here is that the US government should learn to exist within its means. That doesnt mean continueing to spend and raise taxes. The government is NOT a good steward of the peoples monies. BTW didnt the US government make several trade agreements and encourages trade with China? Just exporting more jobs oversea's. "

    Free Thinker wrote on Nov 26, 2008 3:47 PM:

    " Okay Observer, I'll bite... What specifics were you looking for Mr. Sorrells to address? All I read in your first post was an accusation of Mr. Sorrells being Brain washed by the evil Wal*Mart corp. Now that I have exposed your bitterness you want to take your ball & go home? Oh grow up already! You have something constructive to say then say it don't just criticize a person because he is employed by a place of business you dislike & don't insult me because my wife clips coupons. "

    Observer wrote on Nov 26, 2008 8:12 AM:

    " Hey, there friend (?) Since my first post in which I criticized Sorrells for lacking specifics, you've been looking for a fight. I've discovered you're not a worthy opponent, because you don't read or listen, except to voices that bolster your preconditioned notions. So put your dukes down (you're picking on the wrong person) and leave the playground--I ain't brawling with a brawler. Happy Thanksgiving; I hope you enjoy your meal that your wife prepared so carefully, beginning with her clipping of coupons. P.S. Them's fightin' words to accuse me of being a liberal, but I will consider the source. "

    Free Thinker wrote on Nov 25, 2008 4:43 PM:

    " What's the real story Observer? A bit jealous that Mr. Sorrells wrote a better article on the principals of fiscal conservatism then you could? LOL! Don't fret Observer, I'm sure there is a mirror above your bathroom vanity that you may address your audience with LOL! Enough with the "Elitism" Observer. If you were indeed a true fiscal conservative why you would be applauding Mr. Sorrells instead of criticizing him & his employer.
    Jeeezzz... Half a century old & still a child... LOL! "

    Free Thinker wrote on Nov 25, 2008 4:24 PM:

    " Observer if you have "sung chapter and verse of that body of philosophy for half a century" then shouldn't you be agreeing with Mr. Sorrells instead of criticizing him? And since when does clipping coupons define smugness?
    Oh By the way it wasn't conservatives that lost their way & broke the movement it was R.I.N.O.'s (you know those (R) that reached across to the left of the aisle) There hasn't been a conservative in D.C. in 12 years & you beleive the Liberals are going to fix this mess in just 4 years? LOL! "

    Observer wrote on Nov 25, 2008 7:19 AM:

    " You're not smug in how comfortable a life you lead and how you maintain it (wife clipping coupons, etc.)? Well, excuse me! As to fiscal conservatism, I've sung chapter and verse of that body of philosophy for half a century. Which is why today, when I read empty commentary, I'm disappointed. Our current fiscal crisis has caused a lot of finger-pointing from all facets of political persuasion, but none so lacking in substance as from conservatives who lost their way and broke the movement into unrecognizable pieces. To regain control again will require more than chest-thumping, finger-pointing Sorrells' bravado. "

    Free Thinker wrote on Nov 24, 2008 6:59 PM:

    " Observer, attacking me never solved or addressed any problem.
    Mr. Sorrells wrote a very good article that addressed the need for fiscal conservative values in today's economic times. There is no smugness in my posts just agreement between Mr. Sorrells & myself when it comes down too being fiscally conservative.
    Observer, is fiscally conservative a bad concept for us Americans to follow? I don't believe so. "

    Observer wrote on Nov 24, 2008 4:12 PM:

    " Mr. Free Thinker, you're a swell fellow. Keep up the good work, but drop a smidgen of your smugness, OK? And to make you happy, let me say, 'God bless Jim Sorrells and his former employer, the mighty Wal-Mart which, according to you and him, has transcended its sharp marketing skills to become a cracker barrel economist, right here in River City. "

    Free Thinker wrote on Nov 24, 2008 8:57 AM:

    " By the way, it is of no obligation for Mr. Sorrells to provide a solution for today's economic situation. It appears to me that Mr. Sorrells is living comfortable within these tough times & may I say I too am living comfortable. However, I have always maintained a strict, fiscally conservative, house hold budget. I never carry a balance on all of my credit cards, my wife still clips coupons, prepares a big meal that will last for at least 3 days, & any extra income we earn is always applied to the principal of our mortgage. "

    Free Thinker wrote on Nov 24, 2008 8:48 AM:

    " Observer, I highly doubt that Mr. Sorrells looks to his employer as a "Mentor" & Wal*Mart brain washed him. However Mr. Sorrells is correct when he emphasizes then need for fiscal responsibility & he did provide a simple solution & that is to tighten up your belts & stop living beyond your means. I agree with Mr. Sorrells that families need to live on a budget & be strict to the rules of their budget. It's not difficult to balance a house hold budget. "

    Observer wrote on Nov 24, 2008 6:55 AM:

    " Free Thinker, you're free-thinking too loosely. Go ahead, read my comment carefully. I wrote that Mr. Sorrells' MENTOR (that's Wal-Mart, Inc.) shaped his (Sorrells') understanding of economics. Of course, you're right--a Wal-Mart manager is just a low-level tool of corporate directives and policies. Which is the main reason I tried to be as nice, without being a personal attack on Sorrells', as possible. I had hoped to convey to you that Sorrells' offers no solutions to the present and pending crises, but just more empty rhetoric. "

    Free Thinker wrote on Nov 23, 2008 6:05 PM:

    " Uhmm.. Observer.. since when does a manager at Wal*Mart have the authority to determine which country they will purchase their products from? LOL! "

    Free Thinker wrote on Nov 23, 2008 5:59 PM:

    " Spoken like a true Federalist!
    Bravo Mr. Sorrells! "

    Observer wrote on Nov 23, 2008 2:13 PM:

    " Mr. Sorrells' analysis of how we arrived at the economic crisis that threatens the entire planet is a reasonably accurate summary, if lacking in specifics. But his proscriptions are woefully lacking until they sound like revival-tent exhortations to go back to God for help. That's because Mr. Sorrells' perspective was undoubtedly shaped by his long employment by Wal-Mart, whose philosophy incorporates a rather myopic and predatory view of economics. In fact, carefully dissected, his mentor's success strongly underpins the present crisis by its committing mega-amounts of dollars to China for cheap goods and the application of questionable merchandising tactics. "

Multimedia



In Tomorrow's Herald


HOLIDAY RECIPES: See our special section full of tasty meals and treats.

Subscribe Today!

Photo Galleries

Contact Us


Staff Directory

Advertisement



Reader Poll



Calendar

View All Events
Submit Your Own Event

Upcoming Events: