Obama and Boehner Circle Each Other on Budget Impasse - NYTimes.com - 0 views
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The Treasury Department expects the country to hit its debt ceiling, a legal limit on the amount the government is allowed to borrow, close to the end of the year.
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I think that it is nice to see some hope towards compromise at the white house, but at the same time respect Boehner so much more for saying that he simply will not accept any tax plan that isn't balanced. We really can't afford to be increasing our budget deficit any more. At current rates, our debt to gdp ratio will be up 40% by the end of 2016, and we cannot afford to be increasing our deficit. By 2016, the interest on our massive debt because of our skyrocketing budget deficit will have tripled. We are financially headed in a horrible direction, and I am trusting Boehner to shut down any attempts to pass more debt-skyrocketing bills. I agree with this article's position on tax cuts to the wealthy, increasing taxes will only hurt the private sector even further. Even the CBO agrees that if bush tax cuts were to expire unemployment would rise to a whopping 9%, and as such should not be allowed to expire.The private sector, not the government, creates jobs, and this article confirms to me why the government should make it easier for the private sector to create jobs by allowing the bush tax cuts to continue.