As much as it Pains me to say this, the debt has gone too far to be able to manage it with cuts alone.
We are going to have to raise taxes, so on that issue the President is right, however everyone is going to have to “chip in” as the President also said, we can exempt the very very poorest of us certainly however anyone living 200 percent above the poverty line should pay something even if it is just a small amount.
The one thing that we must do here is to not waste any more of this money.
We simply cannot afford to fund radio and TV, and Gas and Oil, and Corn, and Farming, we have to use this money wisely.
If that does not happen, then financially we cannot recover.
So yes, call it revenue or taxes that is something that must be done, and it can be done really it can but we must have a special account where this money is collected and it will not be spent on things that does not directly reduce the debt.
No more Bailouts, no more Arts and humanities, programs, no more waste.
We must find a method to deal with this issue and fix it, otherwise what happened yesterday on the stock market will only be a drop in the bucket. We are seeing just the beginning of a huge issue that could cause millions and millions of Americans to be homeless, while banks hold empty homes, hostage, and senators draw ever increasing paychecks to allegedly betray the American people to our enemies.
Sounds like a movie but it is playing out in the news every day.
We are going to have to raise taxes to deal with this issue however, only if we have a balanced budget amendment to the constitution otherwise we might as well go back to the stone ages and default on everything.
If you have a leaking boat, and the water is getting higher, eventually if you do not fix the cause of the leak the boat will sink, sounds pretty simple right, well it is, and the leak must be fixed. The Tax code is antiquated and outdated, it simply must be fixed, and the only way to do that is to make it so simple that a cave man can do it, a flat tax is the only thing that makes any real sense.