We need to allow ALL tax cuts to expire, borrowing at record again last month
Since we borrowed at the rate of $2T/year last month we need to face reality. The government either needs to collect more of what it is spending, or if the increase in rates stalls the economy further we need to face reality with austerity.
Like a company in bankruptcy we need to reorganize.
There is no recovery, never has been under Obama. When a business spends $4 (heading to $5) to make $1 it is not growing. As long as we can print money and have people accept the script we will delay pain, not avoid it.
Time to go over the cliff and see what happens, get everyone paying a share again not just the rich who already pay 4 times the rate on average.
Maybe Republicans should put together a bill with their desired spending reductions (end Obama-care, limit food stamps, restrict financial payments to citizens only-not illegal visitors, and so forth) with a modest tax increase onall income earners (Including those now excused from any tax liability) and send it to Obama... He can then decide to do what the Republicans wish, or hold the country hostage for his 'community organizer" demand of higher taxes only...
#$%$..A leftist govt especially thrives on increased revenue to pursue their socialist policies. They will NEVER collect enough revenue. It is all on the spending side. Understand that taxes are REGRESSIVE. Cut taxes, expand the tax base.