November 30, 2012
Congressional inaction is endangering the nation's and your financial future.A year ago, Congress refused to compromise on budget and tax issues, so they created what is now called the fiscal cliff..
They gave themselves another year to compromise and in the event they didn't everyone's taxes increase and gov't programs would incur huge budget reductions.
Well its a year later and there's still no compromise. Republicans complain about the democrats refusing to discuss modifying Social Security or Medicare and Democrats complain republicans took the pledge to never...never no matter what... raise taxes.
So we've been fighting two wars without paying for them... increasing gov't programs without paying for them ... borrowing billions from China and others... with no plan to ever pay it back or balance the budget. If you ran your business or household finances that way ...you'd go to jail.
Even now just weeks away from what will likely cause a financial panic, a huge decline on Wall Street, increase unemployment rates and result in every one of us paying higher taxes... both sides can do little more then blame each other They are unwilling not unable..unwilling to find solutions.
Oklahoma Senator Tom Coburn is one of the few in Washington willing to be honest... taxes will have to increase, loopholes will have to be closed and budgets will have to be cut.
Unlike most in congress...Senator Coburn is a realist.
For Common Sense, I'm Vince Orza.