This week in my article I tackle my views on taxes and the evil 1%. (Read it here)
But in reality this is more focused on us as individuals than it is on congress. I generally feel what we do is far more important than what congress does. So, what are my views on what congress should do?
I am very concerned with deficit spending and our debt. Everyone I talk to is. And every person, and for that matter, every president has a solution. The solution everyone always has is to do exactly what their side of the isle wants. What do I mean? When a Republican wins election he says he will get rid of deficits by slashing domestic spending, slashing it so much that he will be able to lower taxes, increase military spending and still eliminate the deficit. Democrats will get rid of the deficit by raising taxes on the rich and cutting military spending. They will raise taxes so much that they will have more money for increased domestic spending and still be rid of the deficit.
These are always their campaign promises, yet what really happens. Without a willingness to compromise, Republicans can somehow find the political fortitude to cut taxes, but somehow lack the political capital to meaningfully cut spending. So, the debt only goes up. Democrats seem to muster the political strength to increase domestic programs and spending, but somehow can't seem to actually effectively raise taxes. So, the debt also goes up. So what do we get? More and more deficits, more and more debt. (This is aptly shown in one of my favorite Studio C skits) They all say the deficit is a huge issue and cry foul when the other party wants to raise it, but somehow become blind to it when their own party wants to raise it. The same democrats who will moan that the deficit will increase under current GOP tax cuts didn't seem too worried when the ARRA was being passed, knowing full well it would raise our deficit. Similarly many Republicans who said it was immoral to even consider ARRA given what it would do to the deficit, now somehow feel that a tax plan that massively increases deficits is okay.
I would like to see a congress and president finally embrace the fact that this issue is so important that they have to be willing to do things unpopular with their party in order to compromise and move the needle. That means Republicans willing to raise taxes, and cut military spending and Democrats willing to cut domestic spending. Could such heretics of their parties sacred cows get elected? Probably not. And that is why we will continue to get each president promise a way out of deficit spending only to see it go on.
(In my lifetime the only time we got close to truly having true surplus was in 2000 when the debt was raised by a meager 17 Billion dollars, very minor compared to most other years. How was this accomplished. Clinton both raised taxes, had a booming economy, cut military spending and yes, cut domestic spending. He, a democrat, worked with a republican congress to actually cut a domestic program. But did any President since follow suite, work with the other side and really take a hit to find a decent compromise? No, push only what their side wants and the debt has done nothing but climb.)