Passing the recent deal to raise the debt ceiling stabilizes our economy by renewing confidence in the U.S. government's ability to meet its obligations. Part of the deal provided for the establishment of a bipartisan "super committee" to provide recommendations on how to tackle the budget deficit. The committee of twelve members, chosen by Democratic and Republican Party leaders from both Congressional houses, will take on the difficult task of reducing our budget deficit by $1.5 trillion over the next 10 years, with a bipartisan solution due before Thanksgiving.
While this committee works against its November 23 deadline, we must keep our nation's priorities in mind. We must continue to protect this country. We must not permit the middle class to shoulder the entire burden of balancing our nation's budget. Most Americans agree that any budget deficit reduction plan must include revenue increases; however, any revenue increases must elicit contributions from all Americans regardless of income. We need to make tough choices, but this cannot be accomplished without shared sacrifice. This will require lengthy and thorough dialogue between all parties, where will we need to come together and put the good of the American people above all other interests.
I will not vote for any measure this committee makes without a clear demonstration that it involves shared sacrifice by all. I cannot vote for a budget that decimates the programs that middle class Americans rely on, when Wall Street is still getting billions in unjustified tax breaks. I understand that certain aspects of our social entitlement programs must be adjusted to ensure solvency for future generations, and the passage of the health care reform act was the first step in that process. But we still need to recognize that with a still sputtering economy, these programs are more important than ever, and serve as a tremendous help to families nationwide.
Now with this historic debt deal in place, it is time to turn the page and focus on the real problems facing Americans, namely jobs. Nothing should be more important than creating jobs in America. With a national unemployment rate of 9.2% and an unemployment rate of 10.5% in Michigan, creating jobs has to be policy makers' number one priority. Congress must not stop focusing on job creation to instead only concentrate on the budget deficit detour while countless Americans are looking for work. This is not going to be an easy task, but I am fully committed to doing everything I can to help Americans find employment and ensuring the financial security of their families over the years to come.
We as politicians cannot be distracted from job creation for the sake of political gamesmanship at the cost of the American taxpayer. I will not fall victim to this, and I call on my colleagues in Congress to do the same.
Tavis Smiley: Questions About the Deficit Super Committee
Doug Demeo: Economy, Jobs and Morality
Often simple, broad regulations are better than spiderwebs.
I agree. It's time for the bottom 47% of wage eaners to pay income taxes. They've been freeloading for far too long.
Well said, Rep. Dingell.
Pay a decent wage so they can be amongst the top 53% and they will be more than happy to pay their share.
Tell this to ALL the politicians ALL OF THEM!!!!! ....not just a "selective" few
Problem solved.
Kai
Thank God for George W. Obama.
The trick probably lies in unbalancing the following equation:
66% GDP share from consumer spending + 16-18% effective unemployment rate = Recession (single or double dip does not matter)
Someone has to cut this guardian knot! Economic planning? Private sector? Planning for higher contribution from sources other than consumer spending to GDP? Job creation (both private and public)?
Should we ask the question to ourselves first, before expecting our representatives to take up the cudgel on our behalf?
Every informed & Intellectually-Honest analyst knows that what we need is something along the lines of Simpson-Bowles- and no Republican will vote for anything like that, since it entails revenue increases.
They should determine as quickly as possible; if any deal is possible.
If not, then just pull the plug as soon as possible and implement the backstops cuts.
WHAT WE COULD ONLY DREAM OF:
Take Social-Security & Medicare out of the Budget altogether and make them completely self-funding. Allow the trustees to develop a number of plans with alternative sets of tradeoffs that give the programs 50-year sustainability. Then let the voters decide by runoff elections on federal ballots which system the country prefers.
AS LONG AS THESE programs are dependent on General Revenues, the Republicans will continue to use them for political football.
And the Democrats will continue to keep expanding these programs beyond their original mandates.
UNDER NO CIRCUMSTANCES: should either of these programs be privatized in any way. All this will do is siphon off our resources into corporate pockets.
LOL= I really like the way that Republicans have transformed the ending of Medicare SUBSIDIES to Insurance companies as cuts to Medicare itself.
Back when Medicare Advantage was first instituted- these subsidies were only supposed to help the insurance companies get started up and off the ground
FTAs, tax cuts and stimulus programs have all failed to produce jobs in the US. FTAs create offshore jobs, not domestic jobs, tax cuts give individuals more money to spend on offshore products as does stimulus programs. The reason is that there are no US produced products for sale in retail stores in the US. No Multinational will invest in the US when any product contemplated can be made for $14.00 for a 12 hour day in China or 50 cents an hour in Indonesia.
It's not all about lower wages. Much is about impunity to pollute.
Earlier this year, the country was, for the first time in it's history, put on the brink of bankruptcy, and had it's credit downgraded in an argument over cuts in spending amounting to $150 Billion a year.
While a 10% unemployment rate is costing the US government nearly TWICE that amount in lost revenues.................................
Why is no Democratic politician putting this important information out for the public to see?
Every cut will cause more lay offs, which will reduce already paltry demand for new products and services, which will in turn lead to more layoffs. It becomes an endless self fulfilling circle, spiraling the economy down the drain.
The old saying is "Make hay while the sun shines" and it's said that way for a reason.
The time to "balance the budget" was when the economy was good..............making hay while it's raining makes no sense whatsoever, and leads to a rotten useless end result.
As a small business owner I learned long ago that the best way to do a difficult job, is one step at a time, addressing the most pressing issues first.
Our biggest problem is, and has been for 3 years, unemployment.
IMPO Congress needs to address ONE CRISIS AT A TIME........and unemployment should have been first on the list from day one.
The economic crisis is NOT a budget/debt/deficit crisis, it is a BANKING DEREGULATION crisis and unregulated securities (derivatives) crisis.
But Doormat-o-crats are submissive to whatever R/apepublicans tell them.
Remember the Clinton administration contribution:
Deregulating bank size and scope to allow too-big-to-fail.
Eliminating Glass-Steagall Act to comply with World Trade Organization, allowing commercial banks and investment casinos to combine and slide us into crisis.
Also remember under Clinton:
"Landmark trade agreement with China"
NAFTA and other trade agreements.
Every time we do a trade agreement under WTO, we outsource not only jobs but sovereignty including the ability to change what we're doing with regulation.