The Debt Ceiling Deadline

[phw115wvwx]

It's not the best deal, but at least we avoided an economic catastrophe. 

I'm not so sure given the recent bad news from the markets today.  There's still a lot more that needs to be done to fix this mess.

[TampaMillTWC88]

It's not the best deal, but at least we avoided an economic catastrophe. 

I'm not so sure given the recent bad news from the markets today.  There's still a lot more that needs to be done to fix this mess.

I agree. There has to be much more of a focus on jobs. 

[The Weather Guy]

They always wait for the last minute.

[TWCC_DJK5555]

Here's what I don't understand.  What's the purpose of a "debt ceiling" anyway?  You'd think it would mean what it says: the most allowable debt PERIOD.  Once the debt ceiling was hit, THAT'S IT.

The "debt ceiling" has been raised something like 50-70 times since 1960.  So in other words, once the spending addicts in D.C. realize that the party's just about over, they just change the rules (i.e. raise the "debt ceiling") so they can continue to feed their addiction (i.e. keep spending).  Why should they care, it's not their money.

[TampaMillTWC88]

For starters, taxes for the wealthy have to be raised, and entitlements have to be cut down.

[gt1racerlHDl]

the only way you can expect jobs to be created is if fuel costs were at pre-katrina levels

[TWCC_DJK5555]

For starters, taxes for the wealthy have to be raised, and entitlements have to be cut down.

One little problem with the first part of your plan...

IRS: Not enough rich to cover the deficit

Entitlement reform is a necessity.

[TampaMillTWC88]

For starters, taxes for the wealthy have to be raised, and entitlements have to be cut down.

One little problem with the first part of your plan...

IRS: Not enough rich to cover the deficit

Entitlement reform is a necessity.

The IRS can say whatever they want to say. There is no reason why the richest 1% shouldn't be required to pay higher taxes. 

[twcclassics]

For starters, taxes for the wealthy have to be raised, and entitlements have to be cut down.

One little problem with the first part of your plan...

IRS: Not enough rich to cover the deficit

Entitlement reform is a necessity.

The IRS can say whatever they want to say. There is no reason why the richest 1% shouldn't be required to pay higher taxes. 

I like how you discounted the IRS's evidence without any evidence or reason. You don't get it. You can tax the rich at 100%, it still won't be enough to pay all our debt. Many economists have documented this. Not to mention that the rich pay nearly 40% of all taxes and almost half don't pay any taxes. Funny that no one asks them to pay their "fair share." Which begs the question - how much is a "fair share?" We've heard this from the Dems for decades, but no one (that I know of) has ever qualified was "fair share" means. And why, why, WHY do we punish people for success (though higher taxes)? Think about it. You start a business. You work you ass off for years to build it up. It becomes successful and you earn a lot of money. And as a reward, the government asks you to pay a higher percentage of taxes. WTF!?

[Pop Light Brown]

Simply bring the tax level on the wealthy back to levels under Clinton while doing entitlement reform (which is sorely needed, especially SS disability and SSI) and cutting down spending in all areas of government...including defense and -dare I say it? - eliminating Homeland Security.

[TampaMillTWC88]

Simply bring the tax level on the wealthy back to levels under Clinton while doing entitlement reform (which is sorely needed, especially SS disability and SSI) and cutting down spending in all areas of government...including defense and -dare I say it? - eliminating Homeland Security.

I disgree. Homeland security is a must to protect against terrorist threats. However, defense needs to be cut. The defense budget was $663.8 billion in our last fiscal year. Who knows what the figure will be the end of this year when you add the Libya mission.

[TWCToday]

It's not the best deal, but at least we avoided an economic catastrophe. 

Wow the debt deal sure saved us! The markets really took off.... oh wait. Well at least the deal saved out nations credit rating.... oh wait.


Tomorrow is going to be an interesting day people. If the markets really fall after this downgrade I think we are in serious trouble

[TWCToday]

For starters, taxes for the wealthy have to be raised, and entitlements have to be cut down.

One little problem with the first part of your plan...

IRS: Not enough rich to cover the deficit

Entitlement reform is a necessity.

Funny you should mention that URL. I read it myself a few days ago. Interesting stuff

[twcclassics]

Simply bring the tax level on the wealthy back to levels under Clinton while doing entitlement reform (which is sorely needed, especially SS disability and SSI) and cutting down spending in all areas of government...including defense and -dare I say it? - eliminating Homeland Security.

I disgree. Homeland security is a must to protect against terrorist threats. However, defense needs to be cut. The defense budget was $663.8 billion in our last fiscal year. Who knows what the figure will be the end of this year when you add the Libya mission.

We have no business being in Libya in the first place.

[wxmediafan]

President Obama is "making a statement" at around 1PM Easter/Noon central today.  I normally do not follow this kind of stuff, but I should REALLY start.