Somebody has to pay
The Simpson-Bowles Commission found hundreds to tax loopholes which would save over a trillion dollars without decreasing anyone's paycheck. But apparently some members of Congress considers a closed loophole the equivalent to a tax increase and pulled it from negotiations. And yes, there is a spending problem - it is called fighting two wars with a credit card. Bush cut taxes (good for him) when we had a budget surplus. But when we got attacked he opened two war fronts without ever asking a dime from Congress in order to pay for them. I remember he said the economy was weak after the attacks and we should go shopping. Fine, but a decade later there still has not been any revenue increase to pay for the wars.
Somebody has to pay for America's choice to fight wars and I don't think it should be based on cutting the retirement pensions for teachers and firemen. Tax the rich because they can most easily afford it. Move the tax rate up from 36% to 39% for them like it was under Clinton. Call me a bleeding-heart-socialist-populist if you want but even Alan Greenspan stated the Bush tax cuts should be repealed and the tax code reset to Clinton era rates (and nobody has ever called Greenspan a populist). Reform the Medicare and Social Security programs if need be but don't tell me to not tax the rich (or new rhetorical term Job Creators). They survived during the 1990s paying 39%, they will survive again.
Concerning the global reserve currency - who cares? France proposed such a thing during DeGualle's tenure. His argument was that it gave America an unfair economic advantage when borrowing...and it does. The dollar always worked well because of its stability. But as other economies strengthen and other currencies become strong (Brazilian Real, China's Yuan, Canada's Dollar, India's Rupee, Britain's Pound), it doesn't make sense to use just one country's currency (especially since that nation continues to make bad economic policies). Eventually it will happen.
But let us face the fact that as bad as America's economic and political troubles are currently, who else can the world depend on? For a while people thought Europe might emerge as a counter-valance to the US. But recent developments demonstrate that the EU still needs some time to work out their issues. Brazil, Russia, India...I don't think so. China? I don't think the world will soon look to China for the global defense of life, liberty, and freedom. So until there is a viable alternative, the US (and by default its currency) is still the best choice.
Now as an American, I can say that at this point, I don't give a damn who is president or who leads Congress or what party is to be blamed or defended... those mother-f@$%ing politicians need to get this sh!t fixed and put country before any other consideration. And I don't care about the next generation either...I want it fixed during this generation!
The Simpson-Bowles Commission found hundreds to tax loopholes which would save over a trillion dollars without decreasing anyone's paycheck. But apparently some members of Congress considers a closed loophole the equivalent to a tax increase and pulled it from negotiations. And yes, there is a spending problem - it is called fighting two wars with a credit card. Bush cut taxes (good for him) when we had a budget surplus. But when we got attacked he opened two war fronts without ever asking a dime from Congress in order to pay for them. I remember he said the economy was weak after the attacks and we should go shopping. Fine, but a decade later there still has not been any revenue increase to pay for the wars.
Somebody has to pay for America's choice to fight wars and I don't think it should be based on cutting the retirement pensions for teachers and firemen. Tax the rich because they can most easily afford it. Move the tax rate up from 36% to 39% for them like it was under Clinton. Call me a bleeding-heart-socialist-populist if you want but even Alan Greenspan stated the Bush tax cuts should be repealed and the tax code reset to Clinton era rates (and nobody has ever called Greenspan a populist). Reform the Medicare and Social Security programs if need be but don't tell me to not tax the rich (or new rhetorical term Job Creators). They survived during the 1990s paying 39%, they will survive again.
Concerning the global reserve currency - who cares? France proposed such a thing during DeGualle's tenure. His argument was that it gave America an unfair economic advantage when borrowing...and it does. The dollar always worked well because of its stability. But as other economies strengthen and other currencies become strong (Brazilian Real, China's Yuan, Canada's Dollar, India's Rupee, Britain's Pound), it doesn't make sense to use just one country's currency (especially since that nation continues to make bad economic policies). Eventually it will happen.
But let us face the fact that as bad as America's economic and political troubles are currently, who else can the world depend on? For a while people thought Europe might emerge as a counter-valance to the US. But recent developments demonstrate that the EU still needs some time to work out their issues. Brazil, Russia, India...I don't think so. China? I don't think the world will soon look to China for the global defense of life, liberty, and freedom. So until there is a viable alternative, the US (and by default its currency) is still the best choice.
Now as an American, I can say that at this point, I don't give a damn who is president or who leads Congress or what party is to be blamed or defended... those mother-f@$%ing politicians need to get this sh!t fixed and put country before any other consideration. And I don't care about the next generation either...I want it fixed during this generation!
that track precisely those numbers. This has been brewing for a while. It didn't have to happen this way.
