Tuesday, September 03, 2013 10:33 AM
Two different approaches----Add Taxes to Increase Revenue and lower the Deficit
the Democratic approach.---Cut expenditures especially in the entitlement area plus Food Stamps-Meals on Wheels to cut spending and lower the deficit.
It takes both approaches to eliminate the deficit and lower that awful debt.
Raise taxes on the wealthy few versus cutting services to the huge masses.
Mark Zandi, chief economist for Moody's Analytics said “the fiscal contraction will be the biggest since government drew down from World War II.” Close to one million workers, one third of the Federal work-force, will be furloughed for an average of 13 days through September.
Douglas Holtz-Eaken of CBO said “the Sequester is way better than raising taxes and way worse than fixing the mandatory spending programs and Republicans know that.” The administration continues to press Congress to replace the sequester with a balanced Deficit Reduction plan.
The administration increased the Deficit with it's Stimulus package and Payroll Tax Cut.
It is time to remove the Payroll Tax cuts and Bush Tax Cuts. Stop nit-picking cuts like Food Stamps and go after Defense and Medicare the big bucks.