We need the Democrats to insure that our government does not give away the farm
to the rich.We need the Republicans to insure that our government
does not give away the farm to the poor.I hope they work together,
in good faith, and both accomplish their goals.
Agreed. I only wish we still had folks like Senators Bennett and Lugar in the
Senate. We need common sense folks to tackle the problems and move our nation
The tea party is the solution. Seriously, Bennett should have raised taxes back
up the instant a war, let alone two wars were declared. To cut taxes then start
multi -trillion dollar wars like The President and congress did is foolish.
Even those that say taxes should not be raised for any reason must include wars
as a necessary exception.
Yes, Democrats, we have this massive debt, not because the government spends way
too much, but only because those "rich" people are not paying enough
taxes. You know, those rascals who already are paying nearly 80% of all federal
income taxes while nearly half of Americans pay no federal income taxes at all.
Drat those rich people anyway!
Yet wasn't Senator Bennett part of the problem for a long time?Earmarks. Allowing two wars to be placed on the national credit card.
Cutting taxes for select Americans. Allowing regulation of banks and Wall
Street to be gutted. Raiding Social Security funds to pay for other government
programs.And when you look fairly and squarely at the record,
you'll note it's not just Democrats who are big spenders in Congress.
In fact, you might even notice that our debts have actually increased when
Republicans sat in the White House and controlled Congress.But that
would require a bit of effort and studying of reliable sources and that
apparently is a thing only "liberals" do.
I noticed today that Ben Bernanke ( the Federal Reserve) has committed to
continuing to buy Treasury debt. The Federal Reserve is currently buying 70% of
all Treasury debt issued. In other words the left hand is loaning money to the
right hand. Is this not frightening to people? What happens when treasury debt
has to go on sale in a truly free market? What will the interest rates be?
I've noticed that previous posters have cast blame on previous
administrations and legislators. The fact is that what's in the past is in
the past and the mountain of debt is here now and in the future. The fact is
that the American people don't want to change entitlements or cut military
spending or one single department of the Federal Government. The current
administration has shown no interest in growing the economy and increasing job
opportunities so the only solution is to raise taxes on everyone.
Red writes: " In other words the left hand is loaning money to the right
hand."If all the claims you make in your posts are really true,
isn't that the other way around?The right (Repubs) are loaning
it to the left (Dems)?Or could it be that none of our legislators on
either side are really interested in doing anything more than squabbling like a
bunch of Kindergarteners on the playground?
Look, we'd be in debt the way we are now regardless of who was elected to
the presidency in 2008, let alone 2012, because it was the combination of tax
cuts, two unfunded wars and an economic meltdown that created trillion dollar
annual deficits in the first place.
Debt has to do with failure to balance the Budget. To Balance the Budget you
have to cut things. If you cut things people get mad and won't vote for
you. We should first cut the UN to Zero. Next cut paying for Abortions in
Foreign Country. Cut all funding to Planned Parenthood. Cut Food Stamps and make
Food Stamps good for only Select Foods not everything in the store and the Deli.
Cut Welfare and Stop Section 8 unless people agree to go to School, Trade School
or Work. I do not mean the legit disabled so don't get on you high horse.
Get Mrs Obama out of School Lunches. Fund School Lunches and BK with Food Kids
will eat.Fund Remedial Education from Grade 1. Fund at least 20% more school
days. Cut spending to Hamas and Egypt and anyone who burns just 1 American Flag.
A Million here a Million there it all mounts up. Cut Funding to PBS. Make PBS
Stand on it own. The same with NPR. If PBS Fund raising pitches are not
commercials then please tell me what is.
I love the geographic associations. Mountain of Debt, Fiscal Cliff. How about a
Drumlin of Defecit, or an plateau of overspending? An alluvial fan of taxation,
maybe? How about a plain of interest? So many possibilities.
I am curious to know how Obama would have responded when al-Qaida struck the
Twin Towers. Would he have led the country to battle the terrorists? Would
this not have cost huge sums of money? Would the Taliban still be harboring
al-Qaida if US military was not sent to Afghanistan?The debt is
bigger than the two unfunded wars. The current debt, and future debt, is mostly
due to unfunded entitlement spending and the interest on our debt. I believe
that by 2030 entitlement spending and debt interest will require 100% of our
budget. The wars are winding down, thankfully. Hopefully there
will be peace in the world.But the entitlement spending must be
addressed by mature leaders. I trust Republicans to address this
issue much more than I trust Democrats. The GOP has presented plans to attack
the deficit spending while the Democrats have presented class warfare to win
elections. Obama and Democrats won't present specifics on spending cuts
while insisting on tax increases that will only fund the government for 10 days.
It will raise $80 billion while the government goes $1 Trillion further into
David, I don't know how Obama would have reacted had he been in office when
the towers were hit. But I do believe his response would have been much smarter
than the way President Cheney and his little buddy reacted. At least, we'd
have been saved from the war in Iraq. And we wouldn't have had the lies
that led us there.
@ David: I have to agree with the one old man. And now here's
a question to you how many Al-Qaida leader's did your boy remove when he
was in office? I allso think he would have done all right when the towers were
how do you ever pay back 16 trillion? Impossible. How do you pay back the
projected 20 trillion after 4 more years of Obama spending? You do the math. My
take on this is that the American people - even many of those that do understand
and pay attention - don't really understand the significance of this debt.
The typical Obama voter has zero understanding or concern about the debt. The
American people are very short sighted and most don't really catch the
significance about something until it actually hits them personally and by then
it is usually too late as we saw with the housing bubble and loan disaster of
2008. If you asked the average American what bad things could happen to them as
a result of this giant debt the vast majority would have no clue and as a result
they don't really care. It's just a number. A BIG number. When
interest rates start to sky rocket and business's start closing down then
it will hit home. When the average car payment doubles then it will open some
eyes. When the entitlement gravy bowl dries up then the panic sets in. Until
then no big deal.
In the short term we need spending to create jobs. In the long term, end the
budget deficit and begin to cut into the national debt. The simple truth is
thet the wealthy need to do their part. Many have inequitably benefited for
years from the Bush Tax Cuts and investments in a war based economy. They must
assist in getting our fiscal house in order otherwise this will look like a debt
put entirely on that backs of the elderly and the poor.
@DavidI don't know how he'd respond to 9-11, but I do know
he wouldn't have gone to war in Iraq and blown a trillion dollars and the
lives of several thousand Americans there.
My point was that Obama supporters like to bring up the unfunded wars as a
reason we are in this financial mess. But what about the unfunded entitlement
programs? Entitlement spending, current and future, are the biggest
source of the budget. Shouldn't we start reworking those programs?Doesn't it seem like hypocrisy for Obama supporters to denounce
unfunded wars but not hold Obama accountable for unfunded entitlement
spending?These entitlement programs are the creation and fault of
everyone: Democrats, Republicans, and the American voters. But the problem
lies before us now to solve. Obama occupies the White House and as president
should lead out to restructure entitlement spending. Congress should work with
the president on this.Instead, we have a Republican Congress that
has publicly stated support for more revenue (the same $800 Billion Obama called
for during the campaign) while also supporting entitlement reform. Obama wants
double the revenue of his campaign promises and won't address specific
entitlement reform proposals. In my mind the president is
obstructing true progress on this fiscal cliff.
Entitlement spending is over 50% of the budget. Within the next twenty
years it will be over 3/4 of the federal budget.There is no surplus, it
was spent.we either: reduce benefits, raise taxes, end the program.We cannot keep going on like we are.Everyone knows it is bankrupt; no
one is willing to do anything about it.
re:Mike in Cedar CityOne BIG problem with your logic Mike - those
evil rich that don't pay enough taxes are the same folks that build the
small - large business's where we (the middle class) work. Yes those rich
folks are the ones that take the risks and provide the capital for business
investment. The first company I worked for (Novell) was founded by a
mulch-millionaire named Ray Noorda and it was because of Ray that thousands of
Utah families were able to work at high paying jobs and buy homes and help build
a financial success story for the people of Utah. Had Ray been taxed to death
(as is the Obama way) there would have been NO Novell period. I have a
son-in-law that owns a small furniture company and with these new tax increases
he is going to have lay off employees and change some of the remaining employees
to part time status. This is WHY you don't tax the rich to death because in
the end it is the middle class that are killed. Understand???
Large sovereign debt is good. It means we owe all of our disposable income to
the government for debt service. That's called "your fair share."
When the government takes all and provides all it is called socialism. It works
just fine in Greece, Spain and Portugal. Don't worry, be happy.
Ex-Senator Bennett is saying the right things now. Unfortunately,
he voted for the wrong things during his time in the Senate, and bears a lot of
responsibility for our current sorry situation.We must stop
increasing the debt limit every time it comes up. We must stop giving raises
and increasing benefits and eligibility for give away programs. We must make
HARD choices on spending and balance the budget (including passing, one Hairy
Reid!) not just pass an amendment saying we should (Senator Hatch!). We must
refuse to grant unanimous consent to do things which allow spending more than we
have, or even any other business until we get spending under control.Spending is the problem, and the one that politicians of both parties lack the
guts or intelligence to confront.