The United States will default on its loans if congressional republicans do not vote to raise the debt ceiling. With world economic collapse under threat from the domino effect of a US default, Treasury Secretary Tim Geithner and others believe the GOP is playing with fire. But House Speaker John Boehner does not seem to care.
“House Speaker John A. Boehner (R-Ohio) is demanding that the White House agree to at least $2 trillion in spending cuts in exchange for lifting the limit on federal borrowing to finance the government’s massive deficits,” according to the Washington Post.
Boehner wants cuts in Medicare, Medicaid and agriculture subsidies, but will not consider using tax increases on those earning more the $250,000 a year to reach his goal.
Recent polls show that the American people overwhelmingly favor raising taxes on the rich, and adamantly oppose drastic cuts to Medicare and Social Security.
Boehner, under the influence of the radical right wing Tea Party, may be trying to call the bluff of Obama and the democrats, by hoping they will cave-in to GOP demands at the last hour. But what Boehner is demanding may be far more devastating to the United States than default.
The $2 trillion in cuts the republicans are demanding would destroy the US economy. Millions of jobs would be lost; millions could lose their health care, and the foreclosure crisis has the potential to accelerate to the point where America might never recover.
It is painfully clear that the republicans want to make President Obama look bad at all costs. Permanently wrecking the economy and the lives of millions of people is apparently just fine with GOP.
Americans are not ignorant of the politics being played with the debt ceiling vote. The deliberate destruction of the US economy goes way beyond politics; it is absolutely evil.
1 comment:
we stop using oil.we talk the price of oil down.
end the international political influence on the u.s.and north american economies.to this increase,Arizona immigration laws implemented in every state. the european union lead by a pro u.s.Italian ,german,french,swedish,czech,danish
implement the same laws in all european union deistricts. massive deportations take place with the help of the u.s.army. the russian army helps the polish and czech goverments to deport illegal aliens. THE U.S.AND RUSSIA AND THE E.U.SIGN INTELLUCTIAL AGREEMENTS TO TRAIN E.U.CITIZENS ON ECONOMIC AGREEMENTS FOR EDUCATION OF THE E.U.CITIZENRYB ON THE BASIC HONEST FUNDAMENTALS INTENDED AS ORIGINAL. THE ORGANIZED CRIME OF PALESTANIAN,ISRALE,AND NEWYORK ARE ANNIHILATED. THE ITALIAN MAFIANIS ALSO ANNIHILATED.
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