After the riots in London and other cities in Great Britain last week, the true cause for the extent of the violence and mayhem must still be determined. Though many community leaders in the affected areas are citing social and economic inequities as the chief cause of its, almost viral, spread.
On Monday, newly “ordained” Republican presidential candidate, Rick Perry, hit the stage preaching the GOP “gospel of the tax cut” and the evils of government regulation. He came out on the campaign trail swinging, using age-old GOP talking points: government…
Blaming the S&P downgrade of the United States credit rating on excessive military spending by the United States, Representative Barney Frank (D-MA) stated on Monday that a logical key component of further deficit reduction is the reduction of military spending.
A critical, though long-ignored, source of revenue which should be addressed by this committee is the removal of the automatic tax-exempt status provision for churches as well as for synagogues, mosques, and other similar places of worship. This discussion is vital if tax reform is a truly legitimate goal of this Congress, as both Democrats and Republicans have stated on numerous occasions.
In deficit reduction talks over the past several weeks Congress and the President have been debating spending cuts and tax hikes. However these two deficit ‘bandages’ merely echo the symptoms of a weak economy; they do not address the root cause of the deficit and debt.
Democrats and Republicans in both the House and the Senate have been frantically scrambling in their attempts to pass a bill starting the nation on its way towards mild deficit reduction. Yet through all of these talks one major segment of the budget most definitely and purposely has been off the table: military spending.
Less than one week until financial Armageddon! At least that is what both sides of the debate would have you believe. And to be honest, a failure to raise the debt ceiling would be tragic for the country and the world; not directly because of an inability to pay U.S. debts, but rather as a result of the economic instability and the corresponding job losses which will result from the illustration of the impotence of the modern American political system.
