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| U.S. Capitol, taken 6/2010 |
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"Like sands through the hourglass," is a good way to sum up the time remaining and the dramatics in DC.
Over the past several years, American politics has become super polarized. It's either one side's way or no way. Sadly, that's not how many Americans think. Especially when it comes to matters of heath care or a poor economy.
So, as we sit at home and watch lawmakers scramble around trying to figure out a deal to raise the debt ceiling before August 2, one must think: what the heck? We (they) should have seen this coming.
The U.S. Debt limit is $14.3 trillion ($14,300,000,000,000 - or to put it in perspective 4,218,289,085,546 10-piece chicken McNuggets - that's roughly 622 10-pieces for each individual in the world.) However, we blew through that back in May. Shocker.
The current U.S. debt stands at about $14.89 trillion.
Hope your hungry.
So, as the United States Government continues to spend like there is no tomorrow we are nearing what Treasury Secretary Timothy Geithner says could be "catastrophic:" a default on the debt. Could it really be? Who knows. We won't know until the very last minute when lawmakers decide to get their act together.
Check this chart out from ABC News: http://abcnews.go.com/Business/Politics/anatomy-debt-default-united-states/story?id=13940811
In what now looks like a failed attempt at the "grand bargain" to cut out $4 trillion in spending, Republicans want to cut spending on programs like social security, medicare and medicaid. Democrats want tax hikes. Of course, there's the general ideological split there.
Speaker John Boehner has ducked out of this deal. He, and other Republicans will not compromise on the debt angle of the issue.
Now, it looks as if there will be a plan for a half-as-grand bargain. A plan now for a $2 trillion reduction miiiiight be in the works. We shall see.
Here's what probably needs to happen: Not tax hikes. I invite you to check out the Fair Tax, instead. Get rid of that nasty income tax, payroll tax and the rest of the nasty taxes - for social security and such - and replace it with a 23% national sales tax. Pay taxes on what you go for, not what you earn - keep your paycheck.
After all, nowadays it's all about redistribution of wealth, right? The fact of the matter is: there is no need for redistribution. That's socialist. Contrary to what some in Washington believe, the United States of America is not a socialist country, it is a nation that has thrived on capitalism (up until, oh about 5 years or so ago). Success and ingenuity brings its benefits.
An individual who makes $250,000+ per year. Great! That individual has likely earned every penny they made. It was not just handed to them. They will pay their share of taxes. Don't punish success by tax hikes. Let there be a fair way of doing that. Don't turn around and give that hard-earned money to those who sit on the couch all day and watch soap operas and talk shows with their bag of chips and buying their dog food with their government handouts.
(Note: That is an example of two extremes and is not the case in every situation)
Besides, with the way things are going in the country right now, tax hikes are not the best thing for any American in any tax bracket. I think President Obama knows that - especially now that unemployment is back up to 9.2 percent.
Back to the debt talks. It's now time to be critical of Republicans: The Democrats bicker among themselves on whether or not to make cuts on their long-championed projects and programs, now is not the time to back away. It's time to cut the tax deductions. Stand your ground on no tax hikes, but take what's on the table and talk. Don't be hypocrites.
At least this is how I see it.
In the mean time, we will have to watch the drama in Washington. But, forget the popcorn! You have 6,220 chicken nuggets to eat.
Unless, of course, the genius working the deep fryers in the back can't count and puts only 9 nuggets in the 10 piece box. Now that's another topic for another time! haha.
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