Budget Deficit; Debt Ceiling; Tea Party = Republican Suicide
Unfortunately, Tea Party-supported House members became beholden to the Tea Party platform, which in part means no new taxes even if the taxes are on the rich. House members are up for election every two years. Thus, a vote for taxes on the rich would probably lose them Tea Party support in the next election and jeopardise their reelection chances. That means, these House members are unable or unwilling to compromise for the good of the country even if it means putting the country into default. A Congress whose members cannot compromise cannot lead, a sad state of affairs indeed.
Ralph E. Stone
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Our country is on the brink of losing the trust of major financial institutions in the world. Why are our lawmakers in Washington not using their minds? If the US doesn't raise the debt ceiling it will default on its debts. Right now it feels like a quarrel between Democrats and Republicans in far away Washington. Soon we will know that there is an economic slump in our own home town. Shops will shut down. Factories will close. Jobs will be lost. We will enter an era of long-term Depression. How can it be possible to increase government revenue without raising taxes on people with incomes over $250,000? Economic justice should prevail. The rich must contribute their fair share of taxes at this time of economic crunch.
Tea Party = Republican Suicide
First of all: The Republicans and Tea Party threatened to shut down the U.S. government and just talking about default will be bad for long-term prospects of the economy . How many times was the debt ceiling raised when Republicans and Ronald Reagan and George W. Bush held power ... numerous ... and now the GOP is using the debt ceiling to hold the nation hostage. The GOP and Tea Party see the debt ceiling battle as the first step to regaining total power in 2012. Heaven help us!
Let's put it another way: If Republicans win and we fail to raise the national debt limit by Aug. 2, the government will default for the first time in U.S. history. But, before I make a final judgment I'm going to wait until Aug. 3 and see if the 25 million Social Security checks are in the mail. How ridiculous to even think such a turn of events is possible; it would be suicide for the Republican Party and could never happen?