An Affront to the American People

The debt ceiling compromise is an affront to the American people who overwhelmingly supported a balanced approach of both tax cuts andtax increases to bring the federal budget into balance. But Gibson and the GOPparty have vigorously protected the assets of the top 2% of the wealthiestpeople in our country rather than bring federal budgets into balance byresponsibly increasing tax revenues along with spending cuts. The cost of theBush cuts to the federal treasury has been estimated to be $1.3 trillion, $1.3trillion of which could have been a significant down payment to reduce thenational debt and pay for 2 unfunded wars. The only way the Obamaadministration felt that they could prevent a catastrophic default was to agreeto a deal that contains no tax increases. But without tax increases, the cuts to essential governmental programsthat protect the American dream will be far more drastic than would otherwisebe necessary.

As Thom Hartmann has said, “Lost amid all the demagogue andarguing regarding the debt/deficit, what's lost is the fact is it's really anargument that pits tax cuts and wars vs. the social safety net.  And it's tax cuts and wars that havegotten us into this mess, not Medicare, Medicaid, or Social Security.” 

ShirleyRipullone