Obama Mustn't Give Away the Store in Debt Ceiling Deal

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Corporate greed, undeserved bonuses, huge salaries, legacy costs, outsourced jobs, government regulation run amok, unions, Environmentalist dogma, pork barrel politics, open borders and trial lawyers have destroyed our nation's business and industry.
Instead of moving forward we have chosen to try and conserve, regulate and ration ourselves into the future - clutching to the fantasy of “green jobs” and mumbling envior-mantras. We have become a debtor nation - hamstrung - unable to produce, compete or pay or debts.
But most importantly, we have lost the personal and political will to change. Greed, sloth, Enviro-Socialism, political correctness and educational indoctrination have destroyed the basic system of American values. Judeo-Christian truths and morality have been replaced by progressive, humanist, relativist subjectivity. The veneration of “Nature” in exchange for God.
I do not believe there is any way to return to our former greatness. We simply lack the necessary strength of character and cohesive determination as a nation to do what is necessary to rebuild and regain our economic strength.
The fall from the top is long and painful.

R.L. Schaefer of CA 3:55PM July 08, 2011

To junior:
The United States has the largest current account deficit because it has the world's reserve currency. Other countries need to acquire dollars, and this drives up the current account deficit.
That's not to say we couldn't import less and have more jobs, but you are misreading the numbers.

Steve 3:22PM July 08, 2011

"Taxes do not create jobs"
You are correct.
So why are so hell bent to raise them?
My own personal opinion is that taxes need to be raised equally on everybody (everybody pays the same rate), but spending needs to be reduced drastically.
For some reason the Left seems to think that raising taxes is the only way to fix the problem. Unfortunately, they totally ignore that it is entitlement spending that is driving the majority of the deficit, and will continue to get worse unless both sides of the aisle get serious about stopping that runaway train.
No, they would rather continue on this current ruinous path than ever make a hard decision that might hurt their reelection chances.
You need to get you heads out of your respective a$$es before you totally destroy this country.

junior of DC 3:11PM July 08, 2011

Taxes are lowest in decades. Time to raise them for the richest among us. High tax time make for prosperous nations, but the righties here will ignore all facts that support this. In fact, they cannot provide a single pice of evidence that support their claim that taxes hurt and economy. ZERO.
NOt to mention that the GOP has become a cult. Can't wait for the election, so many GOP will be gone we can finally get the work done that Obama is trying to do to move this nation forward. GOP is nothing but bigots, sore losers, and obstructionist, unfit to govern, unfit to lead. Let us not forget how we got into this mess...Republican spending like money was going out of style during the Bush years, and htese hypocrite were no where to be found.
HA Ha HA!!! Bring it on GOP, you got notihng and no one supports you except the rich and your little echo chamber of lunatics.

Jason of DC 2:36PM July 08, 2011

Hey Junior from DC and these rest of your ilk on the right.
Do you also realized we already have one of the lowest, if not the lowest in absolute terms, tax rate in the industrialized world?
Taxes do not create jobs.
Small business owners will ALWAYS hire when taxes are high, if there are profits to be made. Taxes have zero to do with a decision to hire an employee if you are recieving revenue greater than your tax burden for that employee.
Trickle down doesn't work, it never has, and it never will. It is NOT working now with the lowest tax rate in decades, and yet you want to lower it more? Why? For what gain other than your own? The country does not benefit from an amemic tax rate, no matter how much you stamp your feet and whine about it, the facts are not on your side, and they never were

King of MD 2:32PM July 08, 2011

The United States ranks last among all nations in the world when it comes to its current account balance, astronomically lower than every other economy, the CIA reports.
According to the most recent figures in the CIA World Factbook, America sits at the bottom of 191 nations, with a listed account balance of an astonishing negative $561 billion.
The chart from the CIA can be seen here:
(top 20 and bottom 20)
Rank country Current account balance Date of Information
1 China $ 272,500,000,000 2010 est.
2 Japan $ 166,500,000,000 2010 est.
3 Germany$ 162,300,000,000 2010 est.
4 Russia $ 68,850,000,000 2010 est.
5 Norway $ 60,230,000,000 2010 est.
6 Saudi Arabia $ 52,030,000,000 2010 est.
7 Switzerland $ 49,350,000,000 2010 est.
8 Netherlands $ 46,690,000,000 2010 est.
9 Singapore $ 44,080,000,000 2010 est.
10 Taiwan $ 39,000,000,000 2010 est.
11 Kuwait $ 38,200,000,000 2010 est.
12 Korea, South $ 36,350,000,000 2010 est.
13 Malaysia $ 34,140,000,000 2010 est.
14 Nigeria $ 27,770,000,000 2010 est.
15 Venezuela $ 22,070,000,000 2010 est.
16 Sweden $ 21,680,000,000 2010 est.
17 Qatar $ 20,110,000,000 2010 est.
18 Hong Kong $ 18,070,000,000 2010 est.
19 Azerbaijan $ 15,960,000,000 2010 est.
20 Libya $ 15,530,000,000 2010 est.
171 Colombia $ -5,946,000,000 2010 est.
172 Czech Republic $ -5,956,000,000 2010 est.
173 Lebanon $ -6,972,000,000 2010 est.
174 Mexico $ -7,000,000,000 2010 est.
175 Morocco $ -7,922,000,000 2010 est.
176 Romania $ -7,934,000,000 2010 est.
177 Vietnam $ -12,220,000,000 2010 est.
178 Poland $ -12,330,000,000 2010 est.
179 South Africa $ -16,510,000,000 2010 est.
180 Greece $ -17,100,000,000 2010 est.
181 Portugal $ -19,030,000,000 2010 est.
182 India $ -26,910,000,000 2010 est.
183 Australia $ -35,230,000,000 2010 est.
184 Turkey $ -38,820,000,000 2010 est.
185 Canada $ -40,210,000,000 2010 est.
186 United Kingdom $ -40,340,000,000 2010 est.
187 Brazil $ -52,730,000,000 2010 est.
188 France $ -53,290,000,000 2010 est.
189 Italy $ -61,980,000,000 2010 est.
190 Spain $ -66,740,000,000 2010 est.
191 United States $ -561,000,000,000 2010 est.
The next closest nation to the U.S. is Spain, and though it's ranked at No. 190, its account balance is negative $66 billion, far less than the American figure.
The CIA defines current account balance as "a country's net trade in goods and services, plus net earnings from rents, interest, profits, and dividends, and net transfer payments (such as pension funds and worker remittances) to and from the rest of the world during the period specified."
Topping the list on the positive side is China, with an account balance of $272 billion. It's followed by Japan, Germany, Russia and Norway.
And the Left thinks we need to borrow even more?
We import way too much and borrow way too much.

junior of DC 2:18PM July 08, 2011

Obama, Pelosi and the Democrats remind me of those people who have to go
to the "Cashland" stores to borrow money because they run out of money before their next paycheck.
These STUUUUUPID people don't realize they're paying through the nose in interest, which only makes their money worth less -- so they have to keep borrowing More.
But this IS the Democratic Party. They depend on entitlements, welfare, giveaways, freebies to get Votes. They can't cut that stuff or they won't get the votes!
Why do you think their Only answer is to Raise Taxes?

Paul of OH 1:59PM July 08, 2011

While reducing the deficit is a step in the right direction, we have a debt problem that threatens our future - a devalued dollar, inflation, reduced values of our retirements, high interest, etc. This is an AMERICAN problem that faces all of us, Democrats and Republicans alike. I would like to see all American join together in this time of crisis to help our country. We can make a donation to reduce the national debt and put our country back on the right path. The Association to Reduce the National Debt is a not-for-profit charity that pays money towards the debt. If everyone game something to them (no matter how big or small, every dollar counts), we can start solving our nation's problems and save our country for our children and grandchildren. Please find them on facebook or on the web, "like" then and contribute! Let's save this great country!

S.E. of NY 1:21PM July 08, 2011

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
Article 2, Section 8
The executive Power shall be vested in a President of the United States of America
Executive Power - Authority to ENFORCE, not MAKE, orders and to ensure they are carried out as intended.
Why is it that the left seems to have missed their government classes in High School. Congress makes the bills that become laws and they are in control of the money. Yes the President can recommend or suggest but has no authority to collect or spend anything without Congress's approval.
The GOP doesn't want to "shred" anything, but they do want to make sure we balance the books. For the life of me I don't understand the left/Dems, why do you feel/think that you have to have the government take care of you? Is it because you are lazy or uninformed that you can't make your own decisions and be responsible for yourself? Someone tell me please!
I would think that you want to work hard to be successful without the fear of being punished for once you succeed.
Work hard, good choices, personal responsibility = success
Refuse to work, expecting a handout, bad choices, never your responsibility = DEPENDANT
How hard is that?
I said many times that I love the rich and hope to one day be rich, but for now they purchase the products that I sell, which puts money in my pocket and food on my table. I don't have a single poor or middle-class person buying my products, so I for one realize that I need the rich, and so do most of you.
You want a plan how about this:
Taxes - everyone pays the same percentage of their income, no deductions. Let’s say 20% for every single American. That way everyone has a little skin in the game.
Flat Rate on Corporate taxes - 15% with no deductions
Military - Bring all of our troops home. Starting with the ones that have been stationed overseas the longest. Then put them at our boarders, North & South.
Social Security should be phased out and everyone should be responsible for themselves. Get off the Government crack pipe.
Get rid of the Dept of Ed, Dept of Energy, HUD, and any other department that has failed in its mission that was set when it was established.
Now that would be Progress or we could continue to follow California's lead and watch the rest of the country fail.

Larry of CA 1:08PM July 08, 2011

Obama is just a clever front for the GOP. He nominated mostly Conservatives, and has just continued most Bush/Cheney policies. His "Change" turned out to just be "status quo."

Thomas Mc of CO 12:13PM July 08, 2011