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Friday, July 29, 2011

The poor and the elderly in the debt ceiling mess

Who should be advocating for the poor and the elderly in the debt ceiling mess?  

An article at Huffington Post about what's next for the debt ceiling mess in Congress: 

"Democrats could propose some sort of trigger mechanism that would force deeper cuts later in exchange for a debt ceiling hike now -- an idea that GOP lawmakers may find agreeable, but which advocates for the poor and elderly believe would be devastating to the social safety net."

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Updated jobs numbers for July on Friday, August 5. Check back then.
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A great comment from "icstars":
See, I think all of these elected jokers should be advocates for the poor and elderly. I'm just old fashioned that way, but the rich individual­s and corporatio­ns don't need such fierce advocacy in Washington­. Fighting for oil company welfare while proposing to cut SS and Medicare..­..that is not leadership­, compassion or sanity.
Great comment!  Nothing to add.. Thanks!. 

2 comments:

  1. America doesn't even earn enough from its GDP to even pay back the current debt and now it wants to borrow more money. America has lived beyond its means for decades time for the US to default and start again.

    ReplyDelete
  2. Thanks for the comment.. Our taxes as a percent of our GDP are the lowest in decades. We are down to less than 15% of our GDP in revenue, and our GDP is down due to the recession. We had a surplus when we our revenues were up to about 19% of GDP. So, yes, our spending on two unending wars during the 2000's was extreme, but the lack of revenue due to the Bush tax cuts really has pushed us over the edge.

    We can't run a first-world country with third-world revenues.

    And you do understand, don't you, that not raising the debt ceiling isn't as much like getting a credit line increased on a credit card; it's like not paying your mortgage.

    So you think the gold bars you have buried in your back yard will tide you over when everybody else is living in the street?

    ReplyDelete

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