Comments on: Sessions: Dem tax demands killing debt deal
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- The only question I have is where was all of this concern about the national debt when the GOP dominated congress and Bush was president?
This is all about politics. The GOP has a better chance of winning in 2012 if there is a double dip recession. Since the current recovery is dependent upon government spending, the GOP is using the budget arguement to reduce spending and create the double dip recession they need to take back the Whitehouse.
I know there are those who think is is absolute fiction and the GOP would never trade the economic health of our country for absolute power....However, I recall the GOP held unemployment benefits for those who lost their jobs hostage until Obama caved in on the extension of the Bush tax cuts.
So much for any GOP honor! - Reply to this comment
- Republicans are again complaining about national debt just like Reagan did a few decades ago. Debt was $900 billion at that time. But after Reagan's cut-tax-and-borrow policy started, he and 1st Bush quadrupled our debt in just 12 years. Then came Clinton,a democrat, he was able to straightened out the mess left by Reagan and Bush. He balanced the budget and accumulated a budget surplus in his second term. Then came 2nd Bush who made both our balanced budget and surplus disappeared instantly by his tax cuts. He almost immediately restarted republican's borrow and spend policy. Clinton's success was mainly due to a tax increase on wealthy Americans. He was lucky because he had just enough vote in congress to pass the increase. Obama is not that lucky. Republicans in congress are doing everything they could to stop anything Obama wants. Indeed after republicans took over the House in congress, both stock prices and job creation have stalled. Inspite of $2.6 trillion surplus in Social Security republicans in congress still want to cut SS benefits. They want to reform SS or even eliminate it all together. Wall Street and other wealthy republican donors couldn't wait to stick their fingers into that pot of SS money. If that happens SS benefits would be greatly reduced because part of SS money would be used to pay those companies high paid executives, company profits and fees. Facts are every single republican president and every single republican tax cut led only to more borrowing and debt. If Obama was a republican congress wouldn't be complaining about our national debt now.
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- Why look for any help from Cantor and the GOP/TP, they've invested in this debt limit default with ProShares Trust Ultrashort 20+ Year Treasury ETF, a fund that "takes a short position in long-dated government bonds."
That is like a general buying life insurance policy on the soldiers he sends into harm's way... - Reply to this comment
- Uh, the way I heard it......it was the GOP "no tax" demands.
Guys, just because you don't want to pay taxes, doesn't mean everyone else should pick up the slack for you. - Reply to this comment
- Back in High School, the USA was the richest country on earth.
Then it turned into a Police State.
Now we are headed to bankruptcy court.
Empires rise and fall. History 101. - Reply to this comment
- This guy is another Republican clown trying to appease the Corporations they work for.
And what EXACTLY was the reason why a Republican President with a Republican House and a Republican Senate passed the tax cuts we're talking about here back in 2001 WITH A SUNSET CLAUSE? You were there Jeffery - you voted for it WITH THE SUNSET CLAUSE.
The Sunset Clause was adapted to get MODERATE Republicans (remember them?) on board with tax cuts that there were told by the GAO WERE NOT SUSTAINABLE. It's the end of the road, let them expire on the top 2% already.
What we're talking about is PERSONAL Income taxes of the wealthiest 2% - not what their companies or businesses earn. The wealthiest 2% can afford for their taxes to go back to what they were when Bush took office, or better yet, when Reagan was Pres.
According to last week's NY Times: Philippe Dauman of Viacom made $84.5M last year, Leslie Mooves of CBS made $56.9M. In all honesty, do you think they wouldn't even notice if their taxes went back to what they were in 2000? I doubt it. And they'd probably be the first ones to say they'd be happy to pay their fair share. It's the other dolts who keep on insisting that we ignore the Sunset Clause put in place in 2001 by a Republican President, a Republican House and a Republican Senate precisely b/c it was well established they couldn't go on forever.
The personal income of people like Dauman and Moonves doesn't relate to how many jobs their companies create. Their personal income doesn't create a single job, unless you count the illegals they hire for housekeepers and nannies. - Reply to this comment
- Folks - When are they going to increase MY debt limit ! Never. Between War, War and more War and Too Big to Fail we are down the tubes. Save your breath ! Democrats, Republicians there was a difference once but no more. Now you just have politians.
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- Typical Refuclican BS. Sessions and his fellow Refuclicans will go to no end to protect the wealthy while at the same time throwing the middle class and poor under the bus. America is quickly becoming a Country of the haves and the have nots which will lead to class warfare. Soon we will not be able to distinguish America from Brazil or some other third world country. Pretty soon, the job of the police and the military in this Country will be to keep the underprivileged from straying into wealthy neighborhoods.
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- Just the interest on the debt would pay for a lot of entitlement programs. What a waste of money!
What would the economy be like if the U.S. were debt free? It ain't gonna happen if you keep borrowing at ever increasing amounts. That is financial suicide. - Reply to this comment
- "The single most important question facing us tonight is: Do we reduce deficits and interest rates by raising revenue from those who are not now paying their fair share-or do we accept bigger budget deficits, higher interest rates and higher unemployment& We're within sight of a safe port of economic recovery. Do we make port or go aground on the shoals of selfishness, partisanship and just plain bullheadedness?" (President Ronald Reagan's televised speech, August 16, 1982.)
Wow - didn't President Obama just offer this ... a $3 of spending cuts for every $1 of new taxes - Reply to this comment
