(CNN) - If the United States is to remain a preeminent economic power, it will have to swallow a strong dose of fiscal belt-tightening to ease the country's staggering deficit, two members of President Barack Obama's deficit commission said Sunday.
A list of draft recommendations presented by the commission stated a goal of reducing the debt by $4 trillion by 2020. Among the ideas proposed to accomplish this are cuts to Social Security and Medicare, as well as tax increases.
The only problem I can see with cutting SS and increaseing taxes to pay down the debt is that, they will never use the extra revenue to pay down the debt, they will just come up with another program, and redistribute the money to others.
Government spending is at its highest level as a share of the economy in 60 years, Conrad said. At the same time, revenue is at its lowest in 60 years, and the total U.S. debt is above $13 trillion.
This is unmistakable and a problem America has to address. Clearly it was a mistake to 'pass' ObamaCare at this time, when in fact it not only costs the government $3 trillion, but it increases the cost of health care for most Americans. This was not a fix. This just piled more onto the problem and it is a problem the Republicans need to fix first.
Increasing taxes on the people who create jobs and companies that are the backbone of our economy would also be a stupid thing to do right now. Like it or not, America's economy is all about private industry, not the federal government! The economy will recover only when companies grow and increase hiring. That's just a fact we can not ignore.
No tax payer dollars for Republican's pockets when we need jobs.
How about ending the wars??? Why cut more benefits to working Americans and raising taxes when we're spending millions a day on two wars that do nothing for us???