NEW YORK (CNNMoney.com) – Get ready for some heated rhetoric about how to contain the unsustainable national debt.
The spark will be lit by President Obama's bipartisan debt commission, which is set on Wednesday to vote on a final set of recommendations. That report will be an amended version of a plan put out three weeks ago by the panel's co-chairmen, Erskine Bowles and Alan Simpson.
What you hear this week is just the start of a long national conversation. Next year, Obama and Congress will attempt to turn talk into policies.
Everyone knows the government will NOT follow all of their recommendations, nor will they cut spending to the recommended levels, and indeed, cutting military right now, would be darn foolish.
"For the left, the preferred way to shore up Social Security's long-term shortfall is to increase the amount of taxes paid into the program."
"There are notable exceptions, but a large number of Democrats want tax increases to do the heavy lifting"
Notice a pattern???? Never met a democrat who doesn't just adore tax hikes. Sorry, libs... taxing only the "rich" isn't going to do the job. Entitlement programs HAVE to be addressed seriously, regardless of politics. Anything less is like taking a whizz on a forest fire.
"The spark will be lit by President Obama's bipartisan debt commission..."
The SPARK will be put out by the Right because they already have their OWN AGENDA and their main goal is to make President Obama a 1-Term President!!! So much for "BIPARTISAN"!!
Do what it takes to get the economy going and bring jobs back – that's all – Continue to Move America Forward with our current leader, President Obama!!
There are notable exceptions, but a large number of Democrats want tax increases to do the heavy lifting, while most Republicans would prefer spending cuts carry the day.
In our current situation this is not even a philosophical discussion. It would be a difficult argument to say that our economy has more resources to dedicate to government spending. The American economic engine is tapped out. As much fun as it is for politicians to spend other people's money, the fact is they need to do less of it. More taxes will choke our economy just when it is gasping for air already.