7 Questions on the Debt that Politicians Don't Want Us to Ask

The U.S. government hit its $14.2 trillion national debt ceiling on May 16 and the global economy hasn’t imploded...yet. Treasury Secretary Tim Geithner took a few “extraordinary measures,” such as suspending investments in federal retirement funds, to bring the total debt just a hair below the limit so the government can continue borrowing until August 2.

Now, Congressional "deficit hawks" are demanding major spending cuts to some of the most vital government programs like Medicare and Social Security. But, a closer look at the country’s balance sheet shows that it’s not spending that’s out of control, it’s revenue.

Federal income tax rates are at their lowest since the mid-1950s. Keeping taxes as low as they currently are doesn't make any sense (especially for the wealthiest taxpayers), but lowering them further is pure insanity. Be that as it may, that’s precisely what Republicans are proposing.
Perhaps it's time we ask our federal officials what their fiscal priorities really are.

Should we…
As politicians fall into hysteria over our looming debt, we need to put things into perspective. If more tax cuts will do nothing to reduce our debt, why do conservative officials so fanatically advocate for exactly that? Many of us are left wondering: Is it the debt they're really after? 

Be the first to comment

Please check your e-mail for a link to activate your account.

Boston

62 Summer Street
Boston, MA 02110
(617) 423-2148

Durham

904 Broad Street
Durham, NC 27705
(919) 724-5615

Created with NationBuilder