in Greek Crisis, Some See Parallels to U.S. Debt Woes.

Shows the complexity of the debt issue in the U.S. Not so easy to simply point the finger at one thing or one President as SOME :D would suggest it is.

http://www.nytimes.com/2010/05/12/bu...nhardt.html?hp

The single most important item that prevents the US from addressing the deficit is the ideology of reduced taxation. As long as Americans keep drinking the Kool Aid that all fiscal problems can be solved without increasing government revenues no solution is possible. There is waste in government, particularly in the military and tax favors to corporations, which should be tackled. Reducing Medicare and Social Security benefits is only necessary if the government is unwilling to collect the needed funds. But it is impossible to reduce expenditures by sufficient amounts without a full fledged revolt by voters (see Greece). Politicians in this country are not known for there willingness to confront voters.
Taxes will eventually go up, it is inevitable. The political question is for whom? The GOP has consistently acted to benefit the wealthy and well connected. If the raising of taxes occurs during a Republican administration you can be sure they will design them in such a way that the wealthy will be the least affected.

Welcome to the site. Its nice to see someone new write a comment in the political thread, and i couldnt agree more with your post.

Quote:

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Originally Posted by mcnealystephanie

The single most important item that prevents the US from addressing the deficit is the ideology of reduced taxation. As long as Americans keep drinking the Kool Aid that all fiscal problems can be solved without increasing government revenues no solution is possible. There is waste in government, particularly in the military and tax favors to corporations, which should be tackled. Reducing Medicare and Social Security benefits is only necessary if the government is unwilling to collect the needed funds. But it is impossible to reduce expenditures by sufficient amounts without a full fledged revolt by voters (see Greece). Politicians in this country are not known for there willingness to confront voters.
Taxes will eventually go up, it is inevitable. The political question is for whom? The GOP has consistently acted to benefit the wealthy and well connected. If the raising of taxes occurs during a Republican administration you can be sure they will design them in such a way that the wealthy will be the least affected.

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That was very well put!
I've always said that you can't borrow money that you can't pay back.
Every Congress and President in my lifetime has had the bad habbit of deficit spending. It just doesn't make sense.
If we want a strong military, great schools, along with excellent health and safety programs, we have to pay for them.
Ronald Regan helped to create a very poisonous thought in America. Regan pushed the idea that if you cut taxes, it's a good thing for our society. And thanks to him, we have had skyrocketing spending without the taxation to pay for it ever since.
Welcome to Sirius Buzz. We hope you'll post some more of your ideas here.

Chuck