In the last few month’s we have been talking about the Debt Ceiling, the GOP wanted to link increasing the debt ceiling to cuts in spending. This was never the case before, and I am all for reducing the national debt. But where I would disagree with the Republicans is their reluctance to eliminate one of the biggest reasons for the debt in the first place. Tax cuts that were put in place by President Bush and were never paid for!
To seriously pay off the debt it is madness to think it can be done just by reducing spending. If the economy was in good shape it may be possible but will take decades. in a economy that’s suffering with high unemployment with most industrial & manufacturing work opening up in cheaper overseas markets; the outlook is grim.
There is some element of truth when the GOP say these big corporations could in fact be the job providers. My questions is even though they have had the tax breaks and corporate profits are up! The fact is the job providers are “NOT” providing the jobs, what is the justification for continuing the tax breaks.
The bush tax cuts will end december 2011, and I am sure they will not be re-introduced. Although I would personally offer any company that opens a factory in the United States providing local jobs where the work is needed; a significant tax deduction for that plant/factory for a period of five years.
I agree that there should be a serious look at Medicare & Medical, possibly creating just one service, where the State and Federal decide on the percentage each will pay toward medical bills. A true alternative to for profit care would drive down costs and provide competition; as it does in Europe and Asia already.
It’s safe to say that Republicans & Democrats in the house & Senate are going to agree on very little for the next year. Job growth will be stunted unless either corporations or government pump money into the mix.
Government could provide jobs updating infrastructure. Which is desperately needed. Of course this money comes from tax revenue. And we know the GOP don’t want new tax revenue.
In the end the only way to move this forward is to have one party running the show. Since the republicans policies were in play creating the recession. My vote is to let the Democrats lead in getting us out of this mess. And if the country doesn’t take this route the recession will be with us until it does!