The expiration of the payroll tax holiday earlier this year has taken a 2% chunk out of weekly earnings – a big hit for the lower and middle income Americans. AAA says the price of a gallon of regular gasoline has jumped 47 cents in one month, adding more downward pressure on consumers. And if Congress and the White House cannot find a way to stave off the $1 trillion in across-the-board spending cuts (also referred to as the “sequester”) that hits military and domestic programs before March 1, hundreds of thousands of workers – especially military contractors – could lose their jobs.
"Most will lose their homes"?? Hardly. The government needs to cut $1 trillion in spending over the next 10 years and everybody needs to contribute their fair share. Defense spending needs to be cut 25% and social programs need to be reduced in scope. Deal with it. Vets included. Taxes must go up and spending must come down. There is no free ride for anybody anymore.
(((The government needs to cut $1 trillion in spending over the next 10 years and everybody needs to contribute their fair share.)))
I'd say GM retirees' fair share would be to return 20% of their retirement funds saved by the bailout.