The CNN Money folks wrote what I think is a very fair and balanced article today. It seems to challenge both the Left and Right's perception of reality.
CNN The Real Debt Problem
And more on the details are scarce on both sides.
FOX News Details on Cuts
Thoughts?
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10 comments:
What needs to be cuts is health care costs. The president proposed cutting 700 billion from health care in the campaign just concluded, and he was vigorously attacked for it. We know that any attempt to address out of control health care costs will be immediately attacked by Republicans as Socialized medicine, communism, rationing and death panelism. For myself, and I obviously don't speak for the president, I just am not that interested in inviting those attacks. It's Republicans who believe most strongly that the budget should be cut, so it's up to them to tell us how they would cut it.
--Hiram
Pot and kettles...
Does anyone have a complete plan they are willing to share ???
I promise you cuts if you give me revenue... oh no....
I promise you revenue if you give me cuts... oh no...
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Well, there is the Ryan plan (which doesn't cut enough) and the Simpson Bowles plan, which taxes too much, and the Heritage plan, which is too soft on entitlements because there is a better way-- a much better, and quicker way.
I don't pretend to have all the numbers, but if we: 1) put Social Security on a path to voluntary privatization, 2) send Medicaid back to the states with block grants and cost reduction incentives, 3) convert Medicare to a private insurance system including HSAs, and 4) simply cancel the bonds held as assets by the Federal Reserve banks, the ones that represent the "vapor money" of the Obama deficits, we could afford to keep current tax rates for everybody and still get rid of the deficit in the next ten years.
It's simple enough. We spend money on three things; the military, Social Security and health care costs. To make cuts that have a significant impact on spending we must cut in those three areas. I don't place a high priority in cutting during a recession. I am just fine with just raising taxes on the wealthiest Americans. If others aren't, if they do want to make cuts, it's up to them to tell us what those cuts should be. Why should my side, in some sort of misguided exercise in bipartisanship, be expected to craft a set of of policies with which we disagree?
--Hiram
I believe the Democrats should explain their cuts plan because they say they are willing to make them if the GOP agrees to raise taxes.
If the Democrats don't want to make them, then tell America that the Democrats will make no cuts and rely only on continuing year after year tax increases.
I am thinking even the normal citizens would figure out that addressing only the revenue side would be a problem after awhile.
I believe the Democrats should explain their cuts plan because they say they are willing to make them if the GOP agrees to raise taxes.
We may be willing to some things Republicans want, but it would be presumptuous of us to define what Republicans want. If I wanted to have an impact on Republican policy making, I would become a Republican.
--Hiram
So it is okay for when the GOP says, we will give you a tax increase next year if you give us cuts today?
I think that is what the DFL is doing... Right?
"You must give us tax increase today... And we will work on those spending problems later."
So it is okay for when the GOP says, we will give you a tax increase next year if you give us cuts today?
It's a free country. It's OK for Republicans to say anything they want. What cuts do they want today?
--Hiram
CNN Back and Forth Update
FOX News Back and Forth Update
Apparently it is OK for the Republicans to agree to raise taxes while the Democrats say they will NEVER address spending, because that is what is happening.
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