Grand Rapids, MI -- (SBWIRE) -- 03/12/2011 -- Dennis Tubbergen is a financial advisor, advisor to financial advisors, author and radio talk show host. Tubbergen, who is CEO of USA Wealth Management, LLC, a federally registered investment advisory company, keeps a close eye on the effect American politics has on our economy.

“The Washington politicians are arguing whether the $61 billion in cuts proposed by House Republicans goes too far,” notes Tubbergen.

“This is a ridiculous argument if you ask me. Think about it: the politicians are arguing about $61 billion when the federal deficit is projected to be $1.65 trillion, the highest ever. But $61 billion represents less than 4 percent of the deficit, hardly enough to put any meaningful dent in the deficit.”

So what is Tubbergen’s problem with this?

“The politicians on both sides of the aisle are posturing as if these cuts will actually make a difference,” he explains. “Bottom line is, in my opinion, they won’t.”

He goes on to state that arguing about $61 billion when the deficit is $1.65 trillion is like a homeowner who lost his or her job cutting the $40 cable television bill to make the $1,000 house payment.

It’s stupid.

Tubbergen refers to a Bloomberg.com article posted on February 8, 2011 in which details of a renovation at the Blackstone Hotel in Chicago are discussed. According to the article, Prudential Financial received $15.6 million in tax credits for assisting in the funding of the $116 million renovation. JPMorgan Chase & Co. also received funds by being a lender and serving as the monitor for the hotel’s construction financing.

According to the article, since 2003 a program called New Markets Tax Credits has built more than 300 upscale projects in areas which are far from the poverty-stricken communities originally intended for subsidies under this federal development program.

“Washington is over the line and out of control,” chides Tubbergen. “And if the above subsidies are any indication, there are plenty of programs that can be cut.”

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, with recent podcasts available at http://www.everythingfinancialradio.com. His seminar schedule can also be viewed at the above radio link.

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.