I do not understand people who feel that it is not so bad for the government to spend money that we do not have against our growing deficit. I have debated with a family member over the need to cut spending over raising taxes on the rich. The family member is all for increased taxing of wealthy folks. The belief is that they do not pay their fair share. The family member did not like me saying that the rich pay more of the taxes in this country. Besides, making them pay more taxes is not going to solve our revenue problem.
Yes, Sen. Marco Rubio is definitely future presidential material. He is right about Pres. Obama and the Democrats not having a plan to deal with the deficit, while asking publicly for a compromise. The most that the congressional Democrats have done is vote down the Republican plan.
In a side note, I watched the Pres. earlier today at a town hall meeting in College Park, Md.. He surprised me when he said that our free market system was the best. There are a few Facebook folks who go back and forth with me on the free market system not being all that wonderful and feel good that the Pres. Obama and Democrats are moving in another direction. If they heard him this morning, they must have cringed big time.
Getting back to points made by Sen. Rubio, watch the video. He is really good.
The President charged Congress to show leadership in this deficit crisis. Even with all the Democratic and Republican political posturing, they did on the Republican House majority side whether or not you agree with them. The House brought forth a bill which Pres. Obama says he will veto if it gets passed the Senate. I thought the President had some nerve with his posturing at the “Eat Our Peas” press conference. After all, his signature Obamacare law is contributing to the debt crisis.
The effort coming from Republican Senate Minority Leader, Mitch McConnell is also on the table, but many conservatives and Republicans do not like his idea of giving the President unchallenged authority in raising debt ceiling one bit. There is also a bi-partisan deficit bill measure that is getting much notice. The Pres. seems to like it. In all truth, he is not going to go with anything purely conservative Republican. This bi-partisan thing gives him a chance to promote his moderate side. But this bi-partisan bill does not deal with the deficit. It blows it off for several years; thus, making it worse for the next generation.
Well as I said in this past Sunday post, we need to be praying for the resolution to this deficit. If we go into default, there will be an awful impact on daily living regardless of wherever you find yourself in the political realm.
I had to suffer being knocked off-line for a few days. During that time, I have watched and listening to all the back and forth and political posturing coming from the Obama administration and the congressional Democrats and Republicans. Regardless of where you are in the political realm, I hope those saved by the blood of Jesus Christ are praying for this country’s debt crisis.
If we go into default, not only will we it affect this country negatively around the world, but here there would be a rise in interest rates propelled by a fall in the number of bidders for new Treasury bonds. This would affect higher costs in home mortgages, student loans, credit cards and auto loans. Could you afford for your mortgage rates to go higher. If you think the foreclosures are bad now, well you have not seen anything yet. It also would increase the federal deficit by raising interest rates on the debt. Read more here. Christians please pray.