The media is dominated by federal debt and expenditure news. For once the focus is clearly on the right subject. If this crisis is not addressed immediately, nothing else will matter.No other domestic or foreign policy issue is more important at this moment. Quite clearly, the expenditure side of the equation should dominate our national debate. The unbounded use by our federal government of one “credit card” after the other has plunged America to its fiscal brink! Those who push for higher taxes miss the real point of this debate. Government revenues are not the problem. Government expenditures are The burden of federal income taxation in America now falls on a little over 50% of wage earning families. About 49% of America’s wage earning families pay no federal income taxes at all, and many of those receive welfare checks from the feds. This alarming fact testifies to the a frightening decline in America’s standard of living which paradoxically is an advantage to the liberals who count on low income earners as voters. This downward spiral is self sustaining under the present Administration, and is sapping the life out of America.
And when the liberal side of the aisle shouts for higher income taxes on “aircraft chartering billionaires”, the real intention is to tax any family earning more than $250,000 a year and to snag millions of middle class Americans in the Obama administration’s tax net. Why are these additional revenues being pushed by liberals? So they can continue their spending spree and bury America in yet deeper debt. This insanity must stop. As with any addict, the liberal’s spending ways will never get any better until a bottom is hit and recovery can begin. No matter what plan is finally adopted, America’s once excellent AAA credit rating is going to be down graded