No matter how grim the outlook, democrats and obama want to continue spending. The only way they can figure to have more money to spend is to raise our taxes. It never even occurs to them that we can't afford it. Our montly gasoline bill has increased by over $300 bucks a month. If this keeps up it won't even pay to go to work.
If more people don't keep after their congress critters about the budget and the deficit, we are going to go from real trouble to whatever is worse than that. My representatives are sick of me. They hear from me waaay more often that they are comfortable with.
Write them folks, let them know we have to fix this stuff NOW. Not in 2012, not in 2016, NOW. We can't afford to kick this can down the road any longer. I will stand behind those willing to make the tough decisions, even if it is painful.
Remember though, we don't have a revenue problem, we have a spending problem...
From FoxNews
The United States' latest fiscal standoff -- an intensifying impasse over whether to raise the federal debt ceiling -- got a sudden jolt Monday when a top credit rating service expressed pessimism at D.C.'s political will to solve the debt crisis.
It remained unclear whether Standard & Poor's decision to change its outlook on U.S. fiscal health over the next two years from "stable" to "negative" would prompt the White House and Congress to agree on a debt fix. But it certainly prompted both sides to affirm they are serious about the issue.
“Serious reforms are needed to ensure America’s fiscal health," House Majority Leader Eric Cantor said in a written statement, calling S&P's announcement " a wake-up call to those in Washington asking Congress to blindly increase the debt limit."
Republicans have called for attaching spending reductions to any increase in the debt limit, which nearly has been reached at over $14 trillion, but the White House has warned that failing to increase the limit in the coming months could be ruinous for federal finances and the economy as a whole, because the nation's creditors may lose confidence in the United States' ability to pay its debts.
S&P's announcement sent stocks tumbling Monday, but White House Press Secretary Jay Carney downplayed it, saying the political process will outperform the agency's expectations.
The Obama administration also acknowledged that there is increasing agreement on the scope of the problem.
"Both political parties now agree that it is time to begin bringing down deficits as a share of GDP," Mary Miller, assistant secretary for financial markets at the Treasury Department, said in a written statement. "We believe S&P's negative outlook underestimates the ability of America's leaders to come together to address the difficult fiscal challenges facing the nation."
Not everyone is convinced that raising the debt ceiling is necessary, even with strings attached.
Read the rest at the link above...
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