During the election cycle, the GOP promised absolutely nothing, other than a constant reminder of a threat to repeal universal health care, the one
program that the Obama administration has put in place to ensure 30 million of the poorest Americans get healthcare coverage.
They did absolutely nothing but slam Democrats for not bringing spending under control. Now they are in charge, they are doing everything that they
can except to address the biggest entitlement programs, Medicare, Social Security, and the Defense budget. These are a massive part of US Government
spending and huge contributors towards the deficit, yet they continue to ignore these as options.
They also continue to ignore the hard fact that taxes must increase. All of the other nations that are in the same situation have instigated tax
increases AND massive spending cuts on entitlement programs and government departments, such as defense and social security, but the USA seems to be
oblivious to the fact that both of these have to happen.
While painful, it is the only way out of the hole. If they continue to increase Government spending by increasing allowances for unemployment
benefits to three years, and continue the tax cuts for the rich, then the USA is going to implode under its own debt load in the end. There is
absolutely no way that the current level of spending can be maintained.
However, if the Government shuts down, and the USA endes up defaulting on international loan payments, they may find out that the pain will come much
sooner, and much deeper than they wanted.
They have to start figuring out that you can't spend your way out of debt. It's the same for nations as it is for households.
If you went to your bank and said "I know I'm massively in debt, but instead of figuring out how to increase my income (tax revenue) or cut back on
spending (entitlement programs), I just want you to give me more money (that you'll probably never get back) so that I can increase my monthly
spending and go further into debt, they'd laugh you out of the bank.
It should be the same for the USA, they just don't get it.
edit on 20-2-2011 by babybunnies because: (no reason given)