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This is terrible news. It means instead of trying to balance the budget politicians are still acting like Santa Clause. Our debt will just get bigger and bigger until we actually make the hard choices to balance the budget; that's going to be both big spending cuts and big tax increases.
Its foolish to be giving tax cuts to anyone with such massive deficits. If anything we should be RASING taxes and using the moneies to pay off the deficit. And if you want to cut spending - defense (rather offense in our terms) is where its at.
Scroll down to the section after that titled "Bush Tax Cuts."
It clearly states that allowing the cuts to expire on the top 2% only nets a $54 billion change to the deficit. The second option is to allow the cuts to expire on those making less than $250,000, netting a $172 billion reduction in the deficit. If we let all the cuts expire we net a $266 billion reduction of the deficit, but we would still have a deficit of over $1 trillion.
Yes you are correct. But just so you know.
I balanced the budget with my "liberal" priorities.
Do not cut federal social programs/entitlements other than cap Medicare in 2013.
Cut foreign aid and farm subsidies.
Cut the hell out of the military and foreign adventures.
Make the wealthy pay more and cap their entitlement benefits.
Watch the Republicans filibuster this bill. It will never make it to the Senate floor for a vote.
If you are Mitch McConnell and you've stated the objective of making President Obama a one term President why would you do something to preserve the tax cuts for middle class Americans?
If America loses the Republicans win. That's all they give a damn about.
After the last 10 years of wreckless spending why does the government deserive ONE MORE penny from any of us? I'd rather the money be shot into space. Extend tax cuts for all. The government has NOT earned the right to it.
This is great news! We'll see how well things go in the senate
1. This was a stunt, as it will never pass the senate
2. The "tax cuts" (it is not a tax cut, it is just keeping the rates the same) for the "98%", will "cost" the government more than twice as much as the "cuts' for the top 2%. Let's "save' money and just give the "tax cuts" to the rich.
3. The current congress will be very different in January. I presume that rationality will prevail and the current tax rates will remain the same for everyone.
4. Class warfare has become a trademark for Obama,yet is old and tiresome. Perhaps he should focus his attention on the economy instead.
Thankfully, this joke of a congress, which has tormented us for four years, will be over in a few weeks.
I balanced the budget with my "liberal" priorities.
Do not cut federal social programs/entitlements other than cap Medicare in 2013.
Cut foreign aid and farm subsidies.
Cut the hell out of the military and foreign adventures.
Make the wealthy pay more and cap their entitlement benefits.
I balanced the budget with no bias, eliminated all Bush tax cuts, cut military spending somewhat, and other minor tweaks:
Its foolish to be giving tax cuts to anyone with such massive deficits. If anything we should be RASING taxes and using the moneies to pay off the deficit. And if you want to cut spending - defense (rather offense in our terms) is where its at.
newsflash-
1. NO ONE is getting a "tax cut". The proposal is to keep the rates the same.
2. Raising taxes in a poor economy is ill advised
3. Deficits and debt has risen due to out of control spending, not revenue generation.
4. Never in the history of the US has increased tax revenue been used to pay down the debt. It has, and always will be, used for more spending.
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