Wednesday, August 3, 2011
Debt Ceiling Disaster Averted--For Now
On August 2, Congress approved a deal that raises the debt ceiling enough to cover us through 2012 while appointing a bipartisan commission to deal with reducing the deficit in the long run. However, there is currently no real solution on the table. Real solutions would include jacking up taxes on the rich (like they were before Reagan took over), closing corporate tax loopholes, ending the current wasteful wars, cutting our bloated "defense" budget in half, and actually fixing entitlement programs rather than gutting them (like the Republicans) or ignoring the problems (like far too many Democrats these days). The TSAP has repeatedly noted all the ways to fix our budget and economy, but it looks like our advice will not be heeded as long as Americans keep voting for spineless Democrats and crazy Republicans. Wimps to the left of me, crazies to the right--stuck in the middle with you, to paraphrase a popular 1970s song.