August 4, 2011 § 3 Comments
After weeks of acting, the deal is done. To think there will still be politicians that are opposed to raising the ceiling, putting the country in danger of default, is mind-boggling to me. I admit, I’m not too enthused about the deal, but it’s either this ‘compromise deal (I use the word ‘compromise’ lightly) or default.
Speaker of the House John Boehner let the world know he got 98% of what he wanted).
Here’s a short summary of the debt deal:
$917 billion in spending cuts over the next decade in return for a two-stage increase in the debt ceiling of $900 billion. After that, a 12-member congressional committee, equally composed of Republicans and Democrats, is to find $1.5 trillion in further deficit reductions that Congress must approve by December 23rd, in return for a similar-sized increase in the debt ceiling. If the committee fails to reach agreement or its proposal is rejected, $1.2 trillion in spending cuts will be triggered, drawn equally from domestic spending and defence.
The real concern or question is exactly where will the administration cut. Part of the deal included a $17 billion increase in Pell grants, which affects over 9 million students, in exchange for killing subsidies for student loans.
As often as I tweet or post the federal budget pie on my Facebook status, I thought citizens knew where all the money was going. To even put the blame on the citizens is a horrible assumption.
I’m a realist and I know many welfare recipients do abuse and cheat the system.
Florida Governor Rick Scott recently signed a new law requiring welfare recipients to undergo drug test. Should we now test low-income students before providing them with federal grants?
These small and sudden laws are only passed to shave costs.
In the past couple of weeks, I have witnessed this new direction of blame onto welfare recipients. David Selig, a federal tax practitioner, on FOX News says, “they [welfare recipients] are not looking for work, if they were, they would be working.” Maybe he hasn’t looked outside, or past his own nose for this matter, to see the current job market, the massive layoffs from top corporations or the unemployment rate.
Don’t fall for the classic class warfare.
These are only a few examples of placing the blame elsewhere and finding an external enemy. Yes, let us blame welfare recipients, veterans, and seniors for running up the deficit. We, the citizens, are not the blame for the current condition of this country.
On August 3rd the President touched on a “self-inflicted wound.”
This “self-inflicted wound” the President speaks of makes me wonder who should endure the pain. Who is really enduring the pain? Corporate profits are at an high since the 1950’s, in the middle of a recession and a potential default. Despite this, we have politicians that fight to protect them and lobbyist to keep their power intact.
Please, I urge everyone to read this article. Like stated above, Congress has to cut $1.2 trillion in cuts next year and lobbyist are ready to storm Capitol Hill.
When will Congress and President Barack Obama show a back bone and push harder for job creation? For downsizing the military budget? What’s the focus? The President ran on a “change” and job creation platform. Ignore the usual “running up the deficit” talk. Better to run up the deficit trying to create jobs and help the helpless.