Is that a fair shared solution is available but neither party "wants it".
Revenues are down as a % of GDP so they have to rise.
Debt is up as a % of GDP that has to stabilize.
Notice I said debt.......
We have to solve the immediate issue of the debt ceiling. To do this we need to get an honest accounting of what we are spending - to include the off the books costs of the wars in Iraq and Pakistan. I would raise payroll tax rates to pay for this. Payroll taxes are collected continuously - so the affect is to negate the debt ceiling issue.
No more leverage - no more fighting - the yearly budget is balanced. That now prevents adding to the long term debt
And the populace is pissed because they really see how much we've been over spending.
Then I propose across the board cuts so that the budget is imbalanced (again) but on the positive side, with all additional funds going towards debt reduction. We don't have to pay it all off within a decade so the imbalance will not need to be large.
But if revenues are at their lowest levels since the 1980s but spending is at it's highest levels ever then we have to address both sides of the equation.
Both parties brought this on themselves with their past views of spending and tax cutting - so there should be no arguments. The blame is shared equally between the parties. Cheney's view that debt is never an issue speaks volumes AGAINST the GOPs current concern and is telling in it's honesty.
Both parties have become so entangled in their fiscal outlooks its hard to see if what they propose is actually good for the country or bad.
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