Our Federal Government will be running out of money in a few weeks unless the debt ceiling gets raised. We all know that is going to happen, but what are we going to do about getting our financial house in order? What are we going to do to reduce spending and lower our deficit?
The administration got their wish and increased taxes on those making over $400,000 or couples making over $450,000. That is a drop in the bucket as to what is needed to just pay for what we presently owe and now we need to deal with increasing the debt ceiling which allows the FED to borrow more money and add to the already out of control deficit.
The second issue is the “sequester.” Almost everyone is not happy about the sequester. If we don’t deal with it, it will cripple our military capability and put a tremendous amount of people out of a job.
So, what do we need to deal with to get our National budget into balance? Social security, Medicare, Medicaid, Obamacare, our military budget, all need to be put on the table for discussion. If not can you say credit down grade and default on our existing debts?
Fiscal Cliff: Two Monster Problems Loom Ahead.
BY: Abram Brown
"A large portion of what politicians needed to face in fiscal cliff talks has been left for another day. While the newly struck compromise does prevent some damage to the economy, pols still need to fix a number of problems. “This is the best we could do,” says Rep. Nan Hayworth (R-New York). “This is at least a partial victory for the American people.”
