It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
At a time when this country faces a $14 trillion national debt and a huge deficit, Congress must aggressively move toward deficit reduction. As we do so, however, we must be mindful of what caused the deficit and make certain that the solution to this crisis includes shared sacrifice.
Our national debt was built up over the past 10 years because of two wars, tax breaks for the rich, the Wall Street bailout and a prescription drug program. ALL UNPAID FOR! The deficit also soared as a result of declining tax revenues during the recession.
The debate over deficit reduction comes at an unusual moment in American economic history. While the middle class is in rapid decline and poverty is increasing, the gap between the very wealthy and everybody else is growing wider.