Monday, November 26, 2012

In Need Of A Save


As I write this...The midnight hour approaches and I silently wonder ,might our government allow us to fall off of this fiscal cliff before this is all over??

As it stands now...U.S. lawmakers have made little to no progress in the last 10 days toward a compromise to avoid the harsh tax increases and government spending cuts scheduled for January 1, a senior Democratic senator said earlier today.


However, people in both the Democratic and Republican camps have been working hard to convince the public — and the financial markets — that they are willing to compromise and can reach a deal before the end of the year. I wonder how that's working out?

The United States is on course to slash its budget deficit nearly in half next year. Closing the gap that quickly, which in Washington speak is referred to as going over a "fiscal cliff," could easily trigger another recession.
"Unfortunately, for the last 10 days, with the House and Congress gone for the Thanksgiving recess ... much progress hasn't been made," said Dick Durbin, the No. 2 Senate Democrat,  who told this to ABC's "This Week."


A deadline is looming. Absent action by lawmakers and President Barack Obama means that roughly $600 billion in tax increases and spending cuts will start to hit households and companies in early January.
Republicans and  Democrats are at an impasse over the President's wish to raise income tax rates on the wealthiest Americans, which Republicans say would hurt job creation. They are still hanging on to that fantasy.

Republicans also want to cut spending on social programs more than Democrats say they will accept. So...here we are!! Do we go over the cliff or is there a compromise and a last minute save? Will you destroy the republic to still try and make a point? That is my question.

II-


Yet!,A growing group of Republican lawmakers are loosening their ties to Grover Norquist, the anti-tax lobbyist famous for getting elected officials to sign a pledge that they will vote against any tax increases.

Republican Senator Lindsey Graham said Republicans will allow tax revenues to rise as long as social spending programs are reformed. "I will violate the pledge, long story short, for the good of the country, only if Democrats will do entitlement reform," he said.

Republican Senator Saxby Chambliss said last week he "cared more about the country" than a 20-year-old pledge, and on Sunday Republican Representative Peter King, chairman of the House Homeland Security Committee, told NBC's "Meet the Press" he agreed "completely" with Senator Chambliss.

Durbin said Democrats are willing to allow small changes to parts of the country's entitlement programs, including public health insurance programs for the elderly and poor, but the Social Security government pension program should not be on the table. I agree.

"Bring entitlement reform into the conversation. Social Security, set [it] aside," Durbin said.
Carl Levin, chairman of the Senate Armed Services committee, said the ability to avoid the "fiscal cliff," depended on the Republicans.

"The key here is whether or not the Republicans will move away from the ideologically rigid position, which has been the Grover Norquist pledge, which most of them signed," he said on "Meet the Press."

A deadline is looming....I'm looking for either a slide over that cliff or a last minute save...Who's going to be a hero?

3 comments:

Yvonne Anderson said...

I love your insightful posts and your sense of humor!

Sean said...

Once Again....you're right on the political target!

John Barleycorn said...

You're so right...We do need a last minute save!




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