Tuesday, February 26, 2013
Obama warns of coming 'pain' without budget fix
Obama warns of coming 'pain' without budget fix
President Barack Obama announced on Tuesday that even with additional flexibility given to him from Congress will still not be enough to prevent 'pain' from being inflicted on the national economy. The President heavily disagrees with the cuts that are currently being made by the government and thinks they will heavily damage jobs in states such as Virginia: "These cuts are wrong, they're not smart, they're not fair," he said. "They're a self-inflicted wound that doesn't have to happen." He continues by making direct remarks about certain republicans, and he implies that with these men, nothing big will change:"Too many Republicans in Congress right now refuse to compromise even an inch when it comes to closing tax loopholes and special interest tax breaks," he said. "And that's what holding things up right now."Is he right to say this and do you agree with his opinion?
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I am probably confused on another article I posted on, but is this about tax cuts or budget cuts? If it is on tax cuts, yes, I think they needs to reform the tax cuts better, so that the rich get taxed more and the poor not so much. If it is on the budget cut, sorry Obama, I disagree. I know he is out on getting more jobs (because so many are bashing him for the economy, even though it is getting better), but we need to cut the spending in order to reduce our national debt that we have up to god knows what.
ReplyDeleteIt is not good that the president and congress are at disagree, when decision need to be made. I think the Republicans need to be more lenient on finding loopholes and taxing the rich.
ReplyDeleteEven if taxes are raised, cuts need to be made, and if one or both of those measures occur, there will be a contraction in the economy in the short run. Either way, jobs will be lost and the economy will be hurt in the short run, but in the long run, we will benefit from the reduction of the deficit. So Obama's complaints of future "pain" in the economy seem obvious to me, regardless of what is the course of action. It does irk me though, that he is still acting like the "campaigner in chief" and using this format to try to push agenda.
ReplyDeleteI think both budget cuts and tax increases need to happen if we have any hope of working down our immense national debt. A plan that is entirely made up of just spending cuts or just tax raises will not work most efficiently if at all. The sooner both sides realize this and decide that the only way any legislation will be passed to help their constituents will only happen if we work together we will all be better off.
ReplyDeleteI agree completely. We can't be extreme one way or the other. Both tax increases and budget cuts need to be put into place. I find it discouraging that on the "day" of the sequester, nothing really has been decided to avoid what was originally intended to be a turn-off to all politicians.
DeleteI don't think it's one way or they other. We need cuts and taxes, they just need to be smart about how much the taxes increase and for whom, and where the cuts are being made.
ReplyDeleteI agree with Grace. At this point, our economy will have to undergo some further difficulties. We cannot continue forth relying solely on raising taxes to reduce our growing deficit; programs have to be cut. Yes, there will be a raise in unemployment, but as Grace pointed out, in the main scheme of things this will be benefiting our country in the future. The article points out Obama's opinion that Republicans refusal to compromise on tax reform measures is "what [is] holding things up right now." Again, tax reform is not all that is necessary to decrease the deficit, and Obama cannot blame the need for this sequester all on the Republican Party.
ReplyDeleteThe economy is going to have to go under more difficult things before anything is fixed or gets better. Not everyone is going to agree with eachother and what is a good idea and what's not a good idea to help our economy with reforms and cuts.
ReplyDeleteAs Shannon said, things are going to get worse before it gets better. I think it will be a while for an agreement and I doubt it will be much better anytime soon.
DeleteAs everyone else has said, we are going to have to make some cuts and raise some taxes. Cutting programs alone won't solve this problem, and raising taxes alone won't solve it either. The rich should not be depended on for "fixing" our problem. The government needs to make smarter decisions, pass a budget, and realize what extremely expensive programs **cough cough MEDICARE** do to our economy.
ReplyDeleteOkay, as much as I like cutting military spending do you know what I like more? COMPROMISING. I like how people in Washington have finally gotten annoyed enough to start saying some mild curse words. NO. Stop complaining about what the other side isn't doing, see it from their point of view, and work from there. Stop being a bunch of morons who like to think their superior because of gerrymandering and an abject refusal to try and fix partisan lines. I know its hard, but for the love of god, suck it up and do it. Kindergartners can compromise. WHY CAN'T YOU?
ReplyDeleteIt's definitely not good that Congress and the president are at odds when important decisions are to be made. However, I do agree that blows to the economy for now will benefit our nation in the future.
ReplyDeletePeople can never agree on anything and waiting for everyone to agree will lead to an even longer standstill. Our economy is going to crumble if our politicians can't learn to compromise
ReplyDeleteCan't post after the fact-- sequester happened.
DeleteWhile compromising is much easier said than done, I believe that until both Congress and the president are on the same page, nothing productive will happen. In addition, I think that both tax increases and cuts are ideal to lowering the deficit. There is always someone unhappy when taxes increase too much or a large percentage of budgets are cut, so a compromise on that front is needed to satisfy the greatest number of people.
ReplyDeleteCan't post after the fact-- sequester happened.
DeleteIf this isn't a warning for the economy, I don't know what is. Decisions like these can certainly hurt the state of the economy, and at this point America can't afford to make any wrong decisions that could negatively affect our economy.We must come to an agreement.
ReplyDeleteCan't post after the fact-- sequester happened.
DeleteDemocrats and Republicans need to start compromising to help the economy. We need tax cuts and to raise taxes, and both sides have valid points. The sooner both sides are able to come to a compromise and have a good solution, the better.
ReplyDeleteCan't post after the fact-- sequester happened.
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