Comments on: Will Obama bypass Congress on debt ceiling?
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- Obama: "Nothing can be off-limits" in budget.
Now I understand what he meant. - Reply to this comment
- John Cornyn, (R) Texas, is a typical GOP Yahoo who wants to keep the biggest and best tax breaks for the richest millionaires at the expense of the lower and middle income taxpayers. He, Paul Ryan, John Boehner, Eric Cantor and Mitch McConnell are in for a rude awakening come 2012!After the dust settles there will be a mud puddle to clean up!
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- What a mess. This should have been resolved last week when Democrats proposed 83% spending cuts and Republicans were looking for 85%. This is just getting childish on both side. I don't see how the Repubs get a better deal than what they were offered. If you'd rather laugh than cry, I have a funny blog post about all of this: http://simplemanssurvivalguide.blogspot.com/2011/06/dr-simple-man-or-how-i-learned-to-start.html
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- This whole debt thing is political. Where were the Republicans during the 17 times they raised the debt ceiling during Reagan? Where were they when Bush raised the debt ceiling 7 times, with Bush actually going from $5.95 trillion to $11.32 trillion.
And let's look at what contributes to this debt, shall we? The largest contributor to this debt has been the Bush tax cuts, which make up 49 percent. Following closely behind at 35 percent is defense, homeland security, and international concerns. Entitlements make up a whopping 10 percent while domestic discretionary spending programs only 7 percent.
Bush kept two wars and Medicare Part D off of the books during his term, while insisting on tax cuts for the rich. With the economic downturn caused by deregulation of the banking industry and out and out criminal fraud by greedy Banksters, revenue is down causing an even larger gap between debt and the ability to pay it.
The simple solution is to raise the taxes on the rich up to 50 percent and close all loopholes -- at least until the debt is paid down. Then we can look at creating a tax rate that is more neutral.
But that is not an issue for raising the debt ceiling right now. It should be raised with NO conditions. Tackle the debt and spending issue where it SHOULD be addressed -- in the budget legislation.
If Republicans choose to continue holding the debt ceiling hostage, then yes, Obama should exercise the 14th Amendment option. - Reply to this comment
- Our nation has been too long in the chains of individual liberty, with its frighteneing requirements for accountability and toil. The experiment is failed. All hail the King!
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- Everyone better be careful. There is a possibility the next president will be a Republican.Any new powers Obama takes now will be available for a Republican president too. On top of that a ruling by the Supreme Court that there was a blatent violation of the Constitution could result in impeachment for both the Presiden. WHAT A MESS THIS WOULD BE.
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