Do you believe that America's debt is out of control?
Mr. Vogel thought that it was bad but not necessarily out of control. He explained how that while the number might be higher than ever there there are many other factors to determine how bad the debt is like debt per person and debt per capita. He did however believe that it will become out of control if the government doesn't stop spending soon.
How does inflation happen and what are some consequences or uses for inflation?
Mr. Vogel said that inflation happens naturally but the government tries to keep it at a certain rate per year. Mr vogel also said that inflation occurs when the government give money to banks so that they can keep interest rates artificially low. THe government has been keeping interest rates artificially low to try to help stimulate the economy. Mr. Vogel said that while its good for the people that the interest rates are low it definitely is not helping our national debt.
What consequences will the National debt have if it is not fixed?
Mr. Vogel didn’t seem to think that their would be any consequence in the near future because of the great value that the dollar holds in the world economy. Mr. Vogel said that he believes that until the dollar becomes devalued other countries will continue to lend us money, and until then our debt will not have any major consequences.
Do you believe that cutting military spending could help with reducing the National debt?
Mr. Vogel did not think that cutting military spending was not a good idea but most of all he said that really cutting military spending is unrealistic. He explained that while the government cuts spending on bombs but the military needs bombs to accomplish some mission they won't be denied because of budget cuts the government will just be forced to spend the money to make more bombs.
What do you believe is the Best way to get the national debt under control?
Mr. Vogel Said that either the government needs to cut its spending dramatically or raise taxes. Mr Vogel then went on to talk about how the government currently taxes the rich and large corporations very heavily. He went on to explain how this high taxation causes many companies to take their business overseas where the taxation is much lower. We asked how he thought this could be prevented. He said that if the government instituted a flat tax where everyone payed the same percent of tax America would still be able to make enough tax money and it help to keep companies from moving to other countries. Mr. Vogel believes that with more major corporations based in America the tax revenue would actually go up dramatically.
Do you believe there is excess spending in the government?
Mr. Vogel strongly believed that there was excess spending going on in the government. Mr. Vogel explained how the price of things that the government buys is much more expensive then it would be to the average person. Mr. Vogel gave us an example, He explained, if the government had to buy a toilet seat for one of its military bases it doesn't just have someone go a Home Depot or Lowes and buy one for $20. Instead the government would order one and then it would be shipped around increasing the number of “middlemen” and therefore raising the price drastically he said a toilet seat probably cost the government around $80. We asked Mr. Vogel why the government would do things this way because it seems like a waste of money. He responded saying he believes it is a waste of money but the government does it because it is afraid of fraud, so rather than risking a major case of fraud they do it that way to make fraud nearly impossible. Mr. Vogel believes waste like this must end if America is ever going to get out of debt.