A Indecisive and argumentative congress along with all the political rhetoric is creating problems all across the board. The inability of our congress to come to a reasonable and balanced decision on how to balance the budget is effecting not only the credit ratings of The U.S. it is also effecting the stock market and the national economical growth. Our Congress needs to put aside political ideologies and get over the fear of making unpopular decisions so they can concentrate on the problems at hand. It will probably take a combination of spending cuts and the increasing of tax revenues to bail our selves out of this financial hole our government is in. Warren Buffet even made a statement supporting the idea of taxing the extremely rich (those who have earnings above 1 million dollars a year).
In the end it always comes down to the middle class as the ones to carry the largest part of the burden financially when it comes to stabilizing the economy and in paying taxes. Even though the tax increases might be focused on the rich it usually trickles down to the middle class consumer and worker in one form or another. This is a sad fact of the reality of capitalism and our nations financial system. To be honest being a lower middle class person myself I do not mind a slight tax increase in order to keep the entitlements such as social security and Medicaid / Medicare alive for our seniors. There is a few things we can do as Americans to help get our country back on track, things such as buying saving bonds, treasury bills and investing in the stock market. The Congress needs to grow up and face reality as well as put aside their political differences to get the job done when it comes to our national debt.
Buying U.S. T-bills is a very patriotic and sound investment. By buying T-Bills you are buying up American debt, this takes away from the debt that other countries own and helps finance our own government. To be honest I know our country is going to be debt for a very long time and I would rather the debt be owned by fellow Americans than any other nation. If we are going to look to the federal government to take care of all the woes and needs of our great nation we have the responsibility to help finance such measures. Like it or not any governmental intervention, subsidy and or entitlement has a price tag attached to it. We can not expect great things without having a some sort of price attached. So we either need to cut the fat and have less help from our federal government or we have to pay higher taxes in order to maintain the programs in place. The option of doing a little of both is also possible but it seems that our government is too caught up in their politics to be able to come up with a fair and balanced solution.
Well that is my two cents worth on the economy and what is going on today.
Wrong or right, It is here for all to see.
Peace and Love to All
- Congress Needs to Get a Grip (onelifetimeblog.com)
- Sarah Palin Gives Sean Hannity Her Debt Solution: ‘Cut The Crap And Balance’ (mediaite.com)
- President Obama advocates a balanced approach, Sen. Hatch, a balanced budget amendment (politicalticker.blogs.cnn.com)
- Commercial Debt Restructuring Expert Covendium Warns Small Businesses to Take a Hard Look at Balance Sheets Now (prweb.com)
- Get ready for Armageddon (macleans.ca)
- That’s It!!! Time 4U to Call Congress, Now!!! (goodolewoody.wordpress.com)
- What Does Balance and Fairness Mean? (doesitallmatter2.wordpress.com)