U.S. Debt Ceiling August 2nd Deadline Inches Closer
Republican lawmakers say that if they raise the limit they need a commitment from the White House for more spending cuts. The Obama administration has resisted the idea of including spending caps or other budget-process reforms in legislation to raise the debit ceiling, arguing that ensuring the government’s solvency is too important to be held hostage to other issues.
Once again political personal interests are threatening to blow up in the face of the United States with the American people in danger of taking the brunt of the fallout.
President Obama is trying to get both sides to come to the table to solve this issue and come up with a long term solution. Obama previously publicly shamed politicians to cut short their vacations to deal with this dire situation.
The question isn’t should the debt ceiling be raised or not as both sides agree it should be. The problem is both sides want something in return before giving a vote. Democrats want to cut tax breaks on corporations and the rich. Republicans want to cut spending mainly on entitlement programs like Social Security, Medicare and other social services. Democrats have agreed to some of these cuts yet the Republicans won’t budge on reducing tax breaks for the rich.
The problem here is the Republicans again wanting to hold hostage the rest of the country for the sake of the wealthy and corporate interests. Honestly both ideas should be done. Spending should be cut however not on social programs that many Americans rely on and have paid into their whole lives but how about on the current war machine (The U.S. is now involved in 6 foreign conflicts militarily) and foreign payouts?. The rich and corporate tax breaks should be repealed.
I’m a voter but not registered to specific party. Here is the the way the Republican ideology in this case reads: the richest citizens can’t afford to lose the 1% or so of the tax break they’ve enjoyed since President Bush yet the poorer Americans somehow can afford to lose the support of programs that many depend on to just barely survive.
Obama has the right idea on pushing for a longterm solution. Politicians will always look for a short term one so that they don’t have to comply with a decision that isn’t in their best interest even after the pendulum of political power sways their direction. This mentality is to the detriment of the people and the country as a whole. I personally don’t think the debt ceiling should be raised, we need to live within our means. You don’t keep borrowing money with no means to pay it back and you don’t give more money to those that screwed up the money they had in the first place.
Those that are not rich or a corporate shill that support the Republican’s staunch position in this case should always remember that money is loyal to money and to a corporation you are nothing more than either labor or customer.