Grand Rapids, MI -- (SBWIRE) -- 02/09/2011 -- Dennis Tubbergen, financial advisor and CEO of USA Wealth Management, LLC, a federally-registered investment advisory company, spends a lot of time discussing such important topics as unemployment and the economy in the U.S. and how politics affect those important subjects. He recently explained to the readers of his financial blog and the 7,000 financial advisors who receive his monthly newsletter, Smarter Not Harder, why he agrees with the comments made January 23, 2011 by former Secretary of State Colin Powell when he appeared on the Sunday morning talk show “State of the Union.”

“Based on what I heard from him I think it’s safe to conclude that he’s not running for office anytime soon,” notes Tubbergen, admiring Powell’s honesty. “But his words should be heeded by those who are not only running for office but those who are already in office.”

Tubbergen also refers to an article posted January 24, 2011 on The Huffington Post website discussing Powell’s interview on the talk show and how Powell stated Congress must deal with Social Security, Medicare and Medicaid in order to balance the budget. Powell also called spending freezes ”an inefficient way” of cutting the deficit and says the real money to be cut is in the above entitlements.

Powell is quoted from the Huffington article as saying, “Don’t tell me you’re going to freeze to a level. That usually is a very inefficient way of doing it. Tell me what you’re going to cut, and nobody up there yet is being very, very candid about what they are going to cut to fix this problem.”

Tubbergen agrees.

“Powell is right on the mark from where I sit,” admits Tubbergen. “Unless every aspect of the budget is addressed, including entitlements, progress on getting the deficit under control will be too slow to be effective. Since we, as a country, are going to run a trillion dollar plus deficit for the third year in a row, we don’t have time to waste taking deficit reduction steps that are more symbolic than substantial.”

Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in the USA Wealth Management Building in downtown Grand Rapids, Michigan. Tubbergen is CEO of USA Wealth Management, LLC and has an online blog that can be viewed at http://www.dennistubbergen.com. His weekly talk show The Everything Financial Radio Show is simulcast on two Michigan metro stations and also airs to over 600,000 financial advisors. Listen to recent podcasts at http://www.everythingfinancialradio.com.

The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.