Category: Debt Ceiling


I have attached an article from Yahoo finance and listened to several talks shows and have been hearing the liberal talking heads blame the Tea Party for the “debt deal” that was forced on the President and how bad it was for the country.  Personally, I don’t know how someone can honestly make this kind of statement and believe it. The Tea Party is the only force right now keeping Obama from spending this country into bankruptcy!

This is not a hard concept to understand; you can’t keep spending money that you don’t have because eventually the bill comes due.  How come the liberals don’t blame their own for starting all these entitlement programs and taking money from the working people and giving it to the ones that don’t work!!  Wake up people, because the President says he wants to take money from the “rich people” and redistribute the wealth but we all know in realty it will not be the “rich people” who have their money taken from them it will be the “working people” who pay the taxes in this country.

President Obama has done exactly what he said he was going to do which is to tear down capitalism and redistribute wealth in this country so in order to cover this up the liberals want to blame the Tea Party for taking the country down the wrong track.  Take your blinders off because the country is already off the track. How embarrassing to lose the AAA credit rating and this happened for the first time under Obama so that is why the Liberals are blaming the Tea Party for this mess because they want to take the light off of Obama for the AAA credit rating being lowered on his watch!

I am not defending the Republicans because they have been in on this out of control spending too but for the Democrats and Liberals to put all this on the Tea Party is completely ridiculous.

http://finance.yahoo.com/blogs/daniel-gross/u-credit-rating-victim-gop-sabotage-021622372.html

 

Last year the President proposed a payroll tax cut which was implemented for working Americans. While not a lot of money the cut is appreciated and every little bit helps.  However, in the debt ceiling agreement the continued payroll tax cut was not included and postponed for discussion at a later time.  To me this should have been a very important part of the discussion because it is possible the Congress would let this sunset and then the middle class would have their taxes raised on the sly to help pay for this continued unnecessary spending. So the Congress could be ready to “stick it” to us again!!

Don’t think the President is off the hook either for continuing to push for a continued payroll tax cut which I appreciate.  As we found out when we filed taxeS last year this increased the income that was brought home and then had to be declared income and taxeS paid so really no one came out ahead.  If the President really wanted to make a good impression not only would he continue to push for an extension of a payroll tax cut, but tell the IRS they are not allowed to collect any tax on the extra money working Americans received through a break in the payroll tax. Maybe instead of turning the IRS loose on Americans we should have them go after Iraq and Afghanistan because with all that money we gave them tax-free, there would be more than enough to close the budget gap!

http://www.reuters.com/article/2011/08/01/usa-debt-payroll-idUSN1E77014520110801

The media is all a “buzz” as the deadline of August 2nd looms for a deal to raise the debt ceiling so the United States does not default on its payments and push the world into some kind of  “depression”.!!  Well, I have news for everyone… no way this will happen!  All we have in Democrats and Republicans are a bunch of politicians worrying about themselves and how they can pad their own wallets and their buddies on Wall Street.  And all of this going back and forth between the President and Congress is a “dog and pony show” to make us think there is a looming debt ceiling crisis and they are desperately trying to work it out.  In my opinion it is already worked out, and this posturing is just to pander to the voters to get re-elected for the next election cycle.

A perfect example is the “cut, cap and balance” amendment passed by the House but was defeated in the Senate.  This bill had no chance of making it to the President because this bill was proposed to give cover to the congressman who were elected to bring government under control, but even these congressman knew in the long run that the debt ceiling will be raised and the spending will go on. This bill was passed by the House with a 234-190 but was defeated in the Senate 51-46.

So my point is that our leaders are not looking out for us. They could care less what we want and believe that we are all idiots! The democrats come into power and nothing changes, the republicans come into power and nothing changes!  This is why I believe it is time for a legitimate third-party.  There seem to be a lot of libertarians around but their organization can’t seem to get off the ground. So the alternative is for all of us..the people getting together and finding a way to start a third-party that can get people elected that break the hold the Democrats and Republicans on the power in this nation.  Because until this occurs we will get the same thing year after year…. bigger government, more spending and making sure wall street is taken care of and not main street.

 

This is not only an important issue for the entire country but also at the individual level for all Americans and we should all be very concerned how this issue plays out.  Taxes are of particular interest to me especially several times of year when I receive a bonus or extra pay for being sent on a special work assignment.  In the last month I had to leave town for work where I was paid my regular salary plus extra for the work I was doing while out-of-town.  I already knew the government was going to take “their cut” of my extra pay but it never really hits home until you receive the pay and check stub showing the unreasonable amount the government “steals” from me to waste on a bunch of crap!

Are you ready for this…?? After Federal, State, Local, Medicare, Social Security the government takes 42% off the top!!  This makes me so mad!!  This is why in communist countries nobody cared about working or producing because the government was going to take it from people so they didn’t care.  This is what is happening in this country the government is having to take more money from the working people to give to those that don’t produce and for corporations that don’t pay any taxes!

This is where the “debt ceiling” comes into play.  The U.S. keeps raising the debt ceiling to keep playing this “shell game” with our money.  But now we are just about at the end of this balancing act of continuing to raise the debt ceiling in order to keep this game going and the rest assured any agreement to raise the debt ceiling in exchange for taxing “the rich” will not solve the debt problem.  There are not enough “so-called” rich people” to fix this problem.  The government is going to tax all of us! There have already been rumblings in Congress about them getting their hands on 401k’s because of the billions of dollars in those plans because Congress can’t help themselves when there is a big pool of money laying around because they have to get their hands on it.

Finally, back to the 42% tax on “bonus pay”.. This was the doing of the Clinton administration so this is why he had a budget surplus because Clinton balanced his budget on the back of working Americans and to me this will happen again in order to get the same result. The only thing stopping this government now is the economy is in the tank and 10% unemployment!