Obama and the tax cut issue

JustJo · 08-06-2011, 10:41 AM

Quote:

Originally Posted by citybutch

The downgrade was brought by the fact that Republicans are not willing to raise taxes and the Democrats are not willing to cut spending.... and not the debt limit "mess". In order to make for a healthier financial outlook either one of those two things or both need to happen. Just like when I am working with my clients who are spending more than they are making (which is what is happening in the country right now) we work on increasing revenue and/or decreasing expenses. It's that simple. This is a problem that has been brewing with the rating companies long before the debt limit stalemate came along... THAT "mess" was created, in my very humble opinion, by politics... although frankly it needed to come to the forefront at some point. The debt limit was raised 8 (?) times under GW Bush... and 4 times thus far (well, 5 now... kinda) under Obama... There just comes a time where one has to stop increasing the amount one can borrow... and start to work on the systemic problems of overspending when revenues are reduced... Something had/has to change....

Exactly....what's the old saying?

"When your outgo exceeds your income, then your upkeep becomes your downfall."

Yea, that one.

Martina · 08-06-2011, 11:07 AM

THe money we're wasting is the effing billions a day in interest. That makes me sick sometimes when cuts to important services are being discussed.

i agree that the issue is the stalemate. i do not think Obama could have done a lot about that. But i do think he could have and should have pursued the financial and corporate criminals who helped land us in this recession.

The first -- ending the stalemate -- is a thousand times more important. But it just burns -- it's so symbolically throw it in your face unfair -- that none of these bastards has gone to jail.

citybutch · 08-06-2011, 11:26 AM

This is an excellent read on the topic. Although there is one error. The US went on credit watch with S&P in April of this year and not June.

http://nutsandolts.com/2011/08/06/te...s-its-hostage/

08-06-2011, 11:07 AM	#2
Martina Senior Member How Do You Identify?: * Join Date: Feb 2010 Location: * Posts: 4,999 My Photo Gallery Thanks: 13,409 Thanked 18,280 Times in 4,165 Posts Rep Power: 21474854	THe money we're wasting is the effing billions a day in interest. That makes me sick sometimes when cuts to important services are being discussed. i agree that the issue is the stalemate. i do not think Obama could have done a lot about that. But i do think he could have and should have pursued the financial and corporate criminals who helped land us in this recession. The first -- ending the stalemate -- is a thousand times more important. But it just burns -- it's so symbolically throw it in your face unfair -- that none of these bastards has gone to jail. __________________ "No matter how cynical I get, I just can't keep up" - Lily Tomlin

08-06-2011, 11:26 AM	#3
citybutch Member How Do You Identify?: Butch Preferred Pronoun?: I answer to "hey you" (either works for me!) Relationship Status: 19 years together- Very Married for 10 years Join Date: Aug 2010 Location: San Diego Posts: 557 My Photo Gallery Thanks: 835 Thanked 1,194 Times in 355 Posts Rep Power: 6434867	This is an excellent read on the topic. Although there is one error. The US went on credit watch with S&P in April of this year and not June. http://nutsandolts.com/2011/08/06/te...s-its-hostage/ __________________ Take care of your body, take care of your health... You never know when the walls cave in and it all changes for good.