Reaching national default – the bankrupting of America


Default is default. Debt is debt.

No, President Obama doesn’t have a plan. Not a real one.

While the Republicans do have a plan, their plan effectively pushes the U.S. into financial default while claiming that it does the exact opposite. The claim is that $300B will flow into the government via taxes so therefore it has money. It just needs to prioritize.

Fail.

It is fail because once you fund defense, security and other favorite sacred cows then there is little left to run the country on.

Without some better projected outcome than that the U.S. must immediately curtail approximately 44% of spending just in August.

We should cut. We should adjust. We should do many things — would be glad to give you my list.

Do we need major cuts and spending realignments? Yes!

Yet, cuts must be accompanied by some tax increases for it all to balance. We need to eliminate loopholes. We need to say that deductions on your tax computation still means that you will pay a minimal amount — no matter how many deductions you have. (You can carry unused deductions forward. Use or lose.)

The president needs to stand firm on insisting on some revenue increases but he needs a real plan of his own. Show us the math. So far, President Obama and the Democrats are seriously malfeasant in being leaders.

As for the Republicans: shame, shame, shame.  Constantly wrapping yourself in the flag while pushing the U.S. into default is not a plan. Your plan to ‘starve the beast’ has now reached its zenith. You might have my support if you weren’t so busy worshiping at the alter of profit and being hard hearted about the effects and the empty promises of your policies. What are you really going to do for the average American other than empty their pockets and kill minimum wage given the chance?

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4 Comments

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4 responses to “Reaching national default – the bankrupting of America

  1. George S. Harris

    Bill–While I know you thoroughly research stuff, I am simply not prepared to accept your statement that President Obama does not have a plan. Further, I believe it is a disservice to claim that to be the case. Unless you have personal knowledge to that effect, you are simply adding fuel to the fire. What I do believe that neither side is willing to budge an inch–the work “compromise” has been ripped from the pages of their lexicons.

    While I do not want this to happen, I am beginning to believe that it is the only way toge the attention of both sides of the aisle along with the American public. If it does happen and things like Medicare payments and Social Security checks stop coming, the American public may wake up and there will be some politicians looking for new jobs.

    I believe you posed the question earlier as to whether the media had any affect on public perceptions. With non-stop, 24 hour a day “news”, can there be any question that the constant gloom and doom being puked out by all the talking heads has a terrible effect on all of us. Please don’t add to the blah-blah-blah.

    • George — I try to stay factual. So with that in mind please tell me what the president’s plan is?

      While at it please provide a link so all of our readers can read the president’s plan.

      He doesn’t have one. He may have a strategy but strategies do not get passed into law and become federal budgets.

      If the president has a plan he hasn’t presented it to his own party, else they might be lining up to build public support for ‘the plan’ and trying to sell it to the American public.

      There are 33 days left before the U.S. effectively declares bankruptcy. I believe that the Republicans are willing to go the distance and past the brink.

      The only thing that could stop them is if Americans stood behind an alternative plan.

      Just 33 days left … so what is ‘the plan’?

  2. George S. Harris

    If I was privy to what happens at the White House, I would provide you with the information, but like you, I don’t have that information. At this point, you are sounding just like every other Republican/Teapublican. So go ahead and add your bit of fuel to the fire, but remember, if Obama had not done some of the things he has done, I doubt seriously that you would be in business.

    As to plans, please tell me what the Republican/Teapublican plan is except to screw the middle class and make the rich richer. And that ain’t a “plan” either.

    I am really hoping they drive the car over the cliff because in 2012, the bastards will be out of power and Boehner and his spa tan will be gone.

  3. George – might you have noticed that I spent just 3 lines of my blog item being critical of the president and 6 lines taking the Republicans to task?

    Plus I gave the Republicans a ‘shame, shame, shame’ three star shame rating.

    AND i spent four lines criticizing the Republican ‘no tax increase’ mentality.

    Please don’t call me a Teapublican. It would not be fair and balanced.

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