When Will It End?
Our President for the first time today discuss his strategy for dealing with the nation's $14.3 debt. It's part of a painful negotiation with Republicans over the president's pending request to increase the government's borrowing limit, now less than $80 billion away. But as usual in Washington we as Americans cannot get a straight answer …..always a line or a guilt trip of who will do with out.
But the reality is the president needs at least $900 billion to even reach the end of the federal fiscal year on Sept. 30, likely more since deficit spending shot up 16 percent in the first six months of the fiscal year. And in order to get through the 2012 election cycle without making another politically costly request, the president would need more than $2 trillion this time.
His speech represented a counteroffer to a Republican plan constructed by House Budget Committee Chairman Paul Ryan and due for a vote in the House this week. The speech is also part rump covering – the president is providing an answer to critics right, left and center who say it is irresponsible to ask for more borrowing power without offering some plan for taming the debt. With interest payments set to become the largest single federal expenditure in the next 15 years, folks are a bit concerned. So we have to wait 15 years to see if this would work.
What I want to know is it possible for Washington to keep it simple..they blow smoke to the American public, but I do understand basic math folks, it makes no sense to me that we have to raise taxes and cut spending at the same time or it won't work. If I have a $100 to spend and I spend it all , its pretty simple I can't do anymore. Borrowing more money is not an answer, just makes the future situation worse. Simply stop spending what you don't have. Were in the constitution did it say we have to support welfare families generation after generation, and maybe police the fraud in medicare better...I don't have all the answers but spending more of what you don't have will never work no matter how Washington wants to explain it or show it.
This week our President gave away to a foreign nation $100 million of our tax dollars..makes no sense lets put it to use to reduce our own debt or pay down our interest carrying cost of all the stupid government's borrowed. We can't be everything to everybody in the world, I think we need to pay attention to our own nation and take care of our own financial woes. Basicly we will be no better off then a lot of nations if we don't stop borrowing and spending beyond our means as a nation....kinda simple...to bad Washington has to make it so complicated.
They (our Government) can't agree on where to make cuts in spending...well guys and gals just do it at 10% across the board. That way you're not picking on any one particular pet project ! Elections are just around the corner, I hope we can once again get rid of those who continue to spend what we don't have.... In conclusion to the President's speech you might say that the point of the speech is so that Obama can say that he gave it.
But the reality is the president needs at least $900 billion to even reach the end of the federal fiscal year on Sept. 30, likely more since deficit spending shot up 16 percent in the first six months of the fiscal year. And in order to get through the 2012 election cycle without making another politically costly request, the president would need more than $2 trillion this time.
His speech represented a counteroffer to a Republican plan constructed by House Budget Committee Chairman Paul Ryan and due for a vote in the House this week. The speech is also part rump covering – the president is providing an answer to critics right, left and center who say it is irresponsible to ask for more borrowing power without offering some plan for taming the debt. With interest payments set to become the largest single federal expenditure in the next 15 years, folks are a bit concerned. So we have to wait 15 years to see if this would work.
What I want to know is it possible for Washington to keep it simple..they blow smoke to the American public, but I do understand basic math folks, it makes no sense to me that we have to raise taxes and cut spending at the same time or it won't work. If I have a $100 to spend and I spend it all , its pretty simple I can't do anymore. Borrowing more money is not an answer, just makes the future situation worse. Simply stop spending what you don't have. Were in the constitution did it say we have to support welfare families generation after generation, and maybe police the fraud in medicare better...I don't have all the answers but spending more of what you don't have will never work no matter how Washington wants to explain it or show it.
This week our President gave away to a foreign nation $100 million of our tax dollars..makes no sense lets put it to use to reduce our own debt or pay down our interest carrying cost of all the stupid government's borrowed. We can't be everything to everybody in the world, I think we need to pay attention to our own nation and take care of our own financial woes. Basicly we will be no better off then a lot of nations if we don't stop borrowing and spending beyond our means as a nation....kinda simple...to bad Washington has to make it so complicated.
They (our Government) can't agree on where to make cuts in spending...well guys and gals just do it at 10% across the board. That way you're not picking on any one particular pet project ! Elections are just around the corner, I hope we can once again get rid of those who continue to spend what we don't have.... In conclusion to the President's speech you might say that the point of the speech is so that Obama can say that he gave it.