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

July 25, 2011
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? 

I've been wanting to see something like this for years

This is so

So True

This is extremely accurate, cuts right to the heart of the issue. 

What are the intentions of these financial superpowers; it seems to me that they are all for protecting the wealthy, keeping it enclosed in a tight pool untouchable by most of our country: the middle class.

What troubles me is this: is this the case solely in America, or has this mentality of unrelenting greed overtaken the world, in all societies? This circle has to stop, for I fear humankind, through its selfish ambitions, will collapse on itself.

How does a young person--I'm fifteen--galvanize change in this world? How can the wealth be distributed world-wide? How can this countries economy--and the economies of the world--be made level playing fields for all? 

Or has it been designed only for those born on Home base?

Taxes/debt ceiling/urgent

Here's an idea on dealing with US debt. Tea Party wants to teach Gov't a lesson on living within means, so no taxes, says Keli Carender, a Tea Party Founder (Liberty Belle).

"Means" in this case has been severely diminished by Bush Tax cuts, prior to which the country was solvent under Clinton. Debts have since increased, so no surprise that balancing the budget is difficult.

So where's the money? "Responsible Wealth," an organization of 700 upper 5 percenters, know where the money is, and they want to give at least some of it back. Ask them to network with colleagues to survey how many others feel the same way.

Then get this information back to Congress fast. This will expose the Republican/Tea Party position for what it is and stop this game of chicken. It's a shame to compromise the fiscal credibility of the United States for the sake of power struggle when true patriots who benefited from tax cuts are willing to give some of it back, for the sake of the country.

Gerald Faucher [email protected]