26 July 2011

Debt Ceilings & Budget Deficits

In case you were like me and missed the President's address last night, check it out here.  And you can hear Speaker Boehner's response here.  Obama explains the situation so everyone can understand it, although the full implications of defaulting on our debt are wide-spread and controversial.  The Harry Reid plan makes sense to me and Boehner really seems like a smug ass.  Budget balancing, in my opinion, is similar to people trying to lose weight.  Yes, it may be possible to reach your goal by dieting (spending cuts) but realistically you need to increase the amount of calorie burning you do (revenues).
Also, this article does a nice job reminding us, as we listen to the Republicans in the news, that the Bush-era tax cuts DID in fact reduce our revenues.  That may seem like common sense, but there have been a lot of Republicans trying to convince the public of the opposite lately.

1 comment:

  1. I've found it interesting that the "span the aisle" President has spent a lot of time lately squaring off party v. party. Also I have to point out, he has never offered a plan of his own. Talking points, yes. Broad strokes, yes. An actual counter-point to the Republican offering? No. In fact his own party has failed to legislate ANY budget for 2 years. Perhaps he's gun shy after his last offering was dumped 97 -0.

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