Wednesday, June 29, 2011

president Obama and Congress need to attend credit counseling

New York Times --

president Obama that is pressuring Republicans on Wednesday to accept higher taxes as part of any plan to pare down the federal deficit [which they created, not us] and told lawmakers that they "need to do their job" before the United States risked the faulting in its debt.
Obama directly challenging Republican leaders, "everybody else has been willing to move off their maximalist position — they need to do the same."

The House speaker, John A. Boehner commented stating that the president's remarks ignore legislative and economic reality.

John A. Boehner is 100% correct... they are not living and economic reality in fact, somehow they must think that we have an endless pot of money that all they have to do is pass new legislation to take it from us.

like the Obamacare for example in 2016 if you do not have qualifying health insurance, you may be fined for a family over $2000 which could be more than your tax return. Now what is the federal government going to do when you can't pay it?

Personally, regarding the debt ceiling... I hope that the Republicans stick to their guns and do not raise the debt ceiling and force the government to start making massive cutbacks [which of course will first be Medicare, Medicaid and other issues which will directly affect US] and wring them back into reality.

Remember... WE THE PEOPLE did not incur the federal deficit... WE HAD NO SAY OR CONTROL OVER IT!

And if we did... I seriously doubt that we would have borrowed money from another country AND THEN turnaround and give that money out to somebody else.

Fed Chairman Ben Bernanke stated recently that he was confused and puzzled why the economy was not recovering as predicted.

Look in the mirror!

In closing, I have some food for thought...

The president stated that the United States risks defaulting on its debt.

so what?

Who's going to come to us to collect it?

I mean seriously... the IRS or other debt collectors that the "normal" citizen faces when it defaults on its debt?

And what collateral did we give China for the money that we borrowed?

I hope that Obama didn't take out a second on the White House.

5 Comments:

Blogger Ten Mile Island said...

Not much has changed in the current debate since you posted this.

A sad comment on how our elected officials are moving toward a solution, no?
.

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