'Groundhog Day' in Congress on tax cuts, budget
Lewis DiuguidHere we go again. Republicans in Congress are prepared to take the nation to the so-called “fiscal cliff” once more on extending tax cuts and reducing the budget.
It is an election year, and Republicans in the House and President Barack Obama are playing this game again on whether to include Bush-era tax cuts for the wealthy in the package. the standoff has stalled any hope of a solution.
Meanwhile, robo budget cuts are scheduled to start in January, The Associated Press reports.
The spending cuts and tax increases combined could amount to about $500 billion next year, a report from the Congressional Budget Office said. The sucking sound of that much money being pulled from the economy in addition to the financial turmoil facing Europe will likely plunge this country in a recession in 2013. If you think unemployment numbers are high now, just wait.
Surely politicians in Washington will come to their senses, suspend the budget reductions and continue the tax cuts. We have seen in recent years that doing the right thing to ensure the well-being of the country and U.S. citizens and Beltway politics often don’t mix.
George Hunsucker
Northland
8 months, 4 weeks agoHere we go again. Democrats in Congress are prepared to take the nation to the so-called “fiscal cliff” once more intent on raising taxes during a recession and continuing to spend at a trillion dollar + deficit level.
Democrats continue to not understand the importance of returning America to a fiscally responsible level of spending and taxes, opting instead for a European style form of high taxes and low growth. Why, even the big 0, oops, Presiddent Obama, used to say that raising taxes in a recession was wrong. Now that he is fighting for his politcal life, unsuccessfully it is hoped, he is doubling down on his failed policies of the last 3 1/2 years and is pushing a divisive class-warfare campaign.
We can only hope that the “hope and change” Chicago “leader” returns to his beloved home.
Mark Hastert
8 months, 4 weeks ago“Democrats in Congress are prepared to take the nation to the so-called “fiscal cliff””
Actually GH the fiscal cliff was a bipartisan creation. Check the votes. The Dems are going to hoist the Repubs on their own petard by letting the Bush cuts expire and simultaneously offering a bill that keeps them for all but the wealthy thus putting the Repubs in a position of being lackys of the rich. It’s a grand plan. I hope it doesn’t come to that but since they’ve all pledged allegiance to Grover it’ll be difficult for them.