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BLITZER’S BLOG: How U.S. can save you more money
August 5th, 2011
04:11 PM ET

BLITZER’S BLOG: How U.S. can save you more money

(CNN) - With the U.S. economy still reeling from the Great Recession and fears growing of a double dip, it’s critical that the Obama administration and Congress keep a very careful eye on every taxpayer dollar spent.

Like all of you, I was relieved that they finally worked out a temporary fix to keep 4,000 FAA employees and tens of thousands of construction workers on the job. Had they failed to work out a deal, taxpayers would have lost more than $1 billion while Congress remains in recess until September 7. Now, with the Senate having solved the problem, we won’t lose that money.

Here are two more areas where we can save a few more billion dollars in the coming weeks and months.

The Obama administration and the Iraqi government appear to be close to a new deal that will allow thousands of U.S. troops to remain in Iraq after the end-of-year deadline when all U.S. forces are supposed to be gone. Right now, there are still some 45,000 American troops in Iraq.

If they reach an agreement to maintain an American military presence in Iraq beyond the deadline, make sure the Iraqis pay for most of it – just as Germany and South Korea pick up the tab for much of the American military presence in their countries. If thousands of U.S. troops remain in the years to come, we’re talking billions of dollars. Iraq can afford to help out. It’s now a major OPEC oil-exporting country and is pocketing billions with the price per barrel so high right now.

Remember – since the war in 2003, American taxpayers already have spent hundreds of billions of dollars liberating Iraq.

The second source of revenue for American taxpayers – and I’ve harped on this before – is Libya. The U.S. still has its hands on about $33 billion in frozen Libyan assets. Deduct the approximately $1 billion the U.S. has already spent on trying to liberate the country from Gadhafi’s rule before handing over the remaining funds to the transitional rebel authority.

I suspect Democrats and Republicans, liberals and conservatives, on Capitol Hill will be receptive to both of those proposals, given the hard economic times the United States is going through right now. Let’s see if the Obama administration is receptive to those ideas. So far, officials have not committed.

Post by:
Filed under: Economy • Wolf Blitzer
soundoff (210 Responses)
  1. Looking Forward

    I totally agree, and if everyone would get insink and bring this 1-7, Pass the Congressional Reform Act of 2011; and the below to fruition, we would have real National Security for our citizenry.
    Looking Forward
    Concider the Following:
    Congressman, Ron Paul on behalf of the concerned citizenry of our great nation the United States of America, we believe as you do that Liberty and the Constitution will NEVER be outmoded; and we do want a restoration of freedom and prosperity for our citizenry. We believe one alternative would be for the sake of the ecological and economical potential vitality growth and inexhaustible potentials, to eliminate revenue short falls with an abundance of REVENUES that conservatives estimate of its profit potential will surpass $500 BILLION a year. In short, showed as stated by Wisdom TV, everything (the consumer uses) can see and touch can be made from this product. Additionally, this product lessens the stressors of life for all safely; insuring domestic tranquility by allowing the utilization of this natural resource, production and farming for the personal and commercial uses by its citizenry, improving the quality of life, and stopping the drug war, and saving lives! Moreover, it is not harmful, or a violent substance, nor does it push you to harder addictive substances such as alcohol, tobacco, or addictive drugs, as the government would have you believe by their biased propaganda. This product is proven to cause laughter, the best medicine, heals and releases endorphins and enhances the immune system within the bone morrow for excellent health, via a God given product; it eliminates depression and all the negatives that make you ill. Also, it is drought resistant, self-fertilizing, pest-resistant, fireproof, and fast growing for plentiful product; and oxygen producing while absorbing carbon-dioxide from the atmosphere for cleaner air quality along with our trees of more abundance; allowing for a better quality of life and healthy citizens. This product has been around since 8000 B.C. , and there is no recorded record of a person ever being harmed from this single substance, in spite of the disinformational practices of the government. Plus it would create JOBS and clean energy for America utilizing this natural resource, the list is unlimited for the inexhaustible potentials of this product, now that’s real National Security! In reality, there should be a law to prevent unreasonable depletion of a natural agricultural heritage and degradation of a valuable and natural resource that would improve the quality of life in all areas.
    The bottom line is: with a national debt of 14 Trillion+, and at $500. BILLION a year potential profit, we would only need (28) states, or all (50) states, leaving each with 44%, a profit of $220.Billion; to implement this natural resource production, and the debt would be cleared in one year!!!!!!!!!!!!!!!! Yes, this natural God given substance is Cannabis/Marijuana. Cannabis/Hemp/Marijuana, everything from A-Z that the consumer uses, can be made from this product, plus JOBS. It is a win-win situation. Then the entitlements could be enhanced rather than depleted.
    According to Judge, Francis L Young, ruled 9-6-88: “Marijuana, in its natural form, is one of the safest therapeutically active substances known…. It would be unreasonable, arbitrary and capricious for the DEA to continue to stand between those sufferers and the benefits of this substance.” According to Drug Policy News it stops cancer, and has many other positives.
    Airing on Wisdom TV ‘Spaceship Earth Marijuana A Forest Survival Strategy’ by IB&C Ges, m.b.H., Producer Gernot Schreck; in short, showed and stated everything you can see and touch can be made from this product marijuana.
    In addition to the above when implementing and utilizing this product we can use the same machinery in current use, saving costs, before adding on to for specializing productions.
    Lets not chop our noses off to spite our face, or be to stupid to be smart; lets clear the debt, heal our citizens and our nation, while globally cleaning the air; that’s good stewardship of what has been loaned to us, our great planet EARTH !!!!!!!!!!!!!!!!!!!!

    August 7, 2011 at 11:54 am | Reply

    August 11, 2011 at 10:41 am |
  2. Bazza

    Here's another way to save money and to make the jerks in Washington more accountable:

    Pass the Congressional Reform Act of 2011

    1. No Tenure / No Pension.
    A Congressman collects a salary while in office and receives no pay when they are out of office.

    2. Congress (past, present & future) participates in Social Security.
    All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.

    3. Congress can purchase their own retirement plan, just as all Americans do.

    4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

    5. Congress loses their current health care system and participates in the same health care system as the American people.

    6. Congress must equally abide by all laws they impose on the American people.

    7. All contracts with past and present Congressmen are void effective 1/1/12.
    The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work.

    August 8, 2011 at 3:00 pm |
    • Patrick McMurphy

      Finally, a voice of reason! Congress has gone far beyond its intentions and limits, and sees itself as a "special" class. I endorse each and every restriction on their egoism. However, I would add an addition to this wish list - a FEDERAL RECALL provision.

      August 8, 2011 at 3:25 pm |
    • Looking Forward

      I totally agree, great insight, and if only the nation would be motivated enough to make it happen; then things would be as they should be. Instead of as it is on the backs of the less fortunate, choking us to death with their stranglehold.

      August 10, 2011 at 12:02 pm |
    • Pat J Diaz

      Cute idea. Now, which Congress will pass that law? Any suggestions?

      August 10, 2011 at 1:10 pm |
    • azusa

      Why doesn't CNN and all the other news companies conduct a pole with this exact proposal?
      A straight up or down: Do you think this should be put to Congress for a vote, Yes/No.
      The percentage of Yes votes could be reported (plus or minus the margin error) and then all the network reporters go and interview every Congressmen, Senator and Representative alike, ask them to put it on the DOCKET with a roll call vote. Should be done before any Primary begins so we know where each potential candidate stands, including those not up for office. Everyone should weigh in on this, all sides, everybody. What say you?

      August 10, 2011 at 2:15 pm |
  3. remy valentino

    WOLF: I HAVE A LOT OF RESPECT FOR YOU AS A POLITICAL ANALYST AND REPORTER, BUT INTERVIEWING THE BUFFOON DONALD TRUMP BEFORE THE PRESIDENT'S ADDRESS TO THE NATION IS A LOW BLOW. COULDN'T YOU FIND ANYONE ELSE? WASTE OF TIME AND TERRIBLE REPORTING. SORRY!

    August 8, 2011 at 2:15 pm |
  4. Gwen

    What is Warren Buffet doing????

    August 8, 2011 at 1:53 pm |
  5. Todd Riccio

    As Thomas Jefferson once wrote; We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness (Jefferson, 1776, Declaration of Independence).
    As Congress and the Government of the United States has shown us in recent days, they can no longer serve the people in the good faith manner in which they have been elected. The government of the United States has failed the American people and the bipartisan bickering and politics in which the elected have only their own interests and re-elections on their minds at all times have hampered and deeply scarred this great nation. We, as Americans, need to take a look at our government and ask ourselves, is the government of the United States still a government for the people, by the people and of the people, or is it a government for the politicians, their interests, lobbyists interests, huge corporations and businesses?
    When and where did our government become one of unjust, unethical and blinded individuals who cannot think about long term effects of their actions? The blame game in Washington needs to cease to exist because the bottom line is that both republicans and democrats and tea party members alike are all grouped together in this mess and they are all responsible for the mismanagement and misrepresentation of the American people. It is clear to many Americans, including this one, that Washington is broken and cannot solve the problems and issues that face America now and in the future. At this crucial time in our government and in our history, Congress sits on vacation, how is that doing the job they were elected to do? Elected Congress officials make $174,000 a year to make our country worse, show incompetence and put our country two steps back instead of taking steps forward to grow our nation, our economy and to shrink our debt.
    Has any law maker ever suggested taking a pay cut to at least half of what they make now? The old guard and those just elected to congress need to be replaced. People that have been in congress for 20 years, 4 years, 2 years, what have you need to be voted out and we the American people need to elect people to our government that will stand up for the American people, solve our issues and problems with compromise, common sense and under the basic premise of being a government for the people, by the people and of the people. When will the government remember its roots, its history, where it came from and who it represents and protects?
    Here is a common sense question, if an American Family spends more than they earn per year, will banks give that family more loans? Heck no, they wouldn’t qualify. If you overspend, do you keep giving money to people in other nations? No, you need to put that money into your own country. Stop giving billions of dollars to other countries that only cost us more in the long run to support with nothing to gain. George Washington stated in his farewell address:
    To facilitate to them the performance of their duty, it is essential that you should practically bear in mind, that towards the payment of debts there must be Revenue; that to have Revenue there must be taxes; that no taxes can be devised, which are not more or less inconvenient and unpleasant; that the intrinsic embarrassment, inseparable from the selection of the proper objects (which is always a choice of difficulties), ought to be a decisive motive for a candid construction of the conduct of the government in making it, and for a spirit of acquiescence in the measures for obtaining revenue, which the public exigencies may at any time dictate (Washington, 1796).
    With this statement, Washington simple states by using common sense that with the payments of debts there must be revenue and that to have revenue you must have taxes. Taxes that are hard, burdensome and not well liked, but are a necessary evil to have a government that functions and is solvent. To have an unfair tax structure that does not tax the wealthy as it would tax the middle class is asinine and ignorant. To give tax breaks and have tax loop holes for big business and corporations, like big oil is ridiculous and should be stopped, but will it? No, because those people, corporations and businesses line the pockets of politicians and thus the politicians are only serving their interests and needs and not those of the people who they are supposed to serve.
    No one knows what will happen in the future, but Donald Trump makes a great point, tax all the imports that we get from China and they will either pay it or they will make great concessions to us. Concessions on our debt hopefully, since China is the main player and main buyer of our debt.
    So I appeal to every politician, become the government for the people, by the people and of the people, compromise, use common sense, stop always trying to get re-elected and just do the job that you were elected to do, which is best serve the people who elected you, not those who line your pockets and give you paybacks. Stand up, be counted, be accountable to the people and to your own morals, ethics and values and if your values and morals tell you that taking money from the huge companies to keep giving them tax breaks then you need to re-evaluate what you believe in and if you are doing what you are supposed to do for the best of this country. What is best for this country right now is to use common sense and compromise!! Who are the great compromisers of our time, who are those that can and will use their common sense to bridge the gaps across party lines, who will it be?

    Sincerely, a concerned American citizen:

    Todd Riccio
    Colorado

    August 8, 2011 at 1:35 pm |
    • azusa

      Thank you for taking the time to put forth a thoughtful opinion. I hope more people will read it.

      August 10, 2011 at 2:06 pm |
  6. Denise

    Wolf – shame on you! Stop giving Trump airtime – who cares what he thinks – he's a pompous ass who's arrogance has no boundaries – he has no credibility!!!!

    August 8, 2011 at 1:16 pm |
  7. Michael Oliver

    Stop funding WAR in Libya! Obama must stop spending tax payer money traveling to fund raisers and campaign rallys.
    Stop foreign aid until debt is eliminated. Create jobs for unemployed like picking up litter "Clean Up America"! Beg China to lower our interest rate. Create a national lottery! People do not want to pay higher taxes but they will buy lottery tickets. Change retirement age to 67 for those 30 years old or younger and to 70 for those age 20 or younger.
    Repeal Obama Care!

    August 7, 2011 at 11:20 pm |
  8. chuck

    People’s Mandate for the “SUPPER CONGRESS"

    Both parties claimed they have people’s will in vain. I like to challenge the congress to ask volunteers to the “SUPPER CONGRESS” with one pledge. If they end up in a gridlock again then the members of that supper committee will resign. This will put parties to take this debt ceiling matter seriously now that their jobs are on the line.

    Call congress out. Put thier jobs on the line just like any other jobs, when failed, resign. Let us all do some pain sharing. Make this a mandate from us, the people.

    I like to see any elected congress member will take this challenge on. Let’s do some real SHARED SCRAFIES. This is the root of oue problem, be accountable. Yes, congress. you!

    August 7, 2011 at 3:55 pm |
  9. Looking Forward

    Absorb this then maybe things will change:
    I totally agree, and additionally, I totally agree with Ron Paul our next expectant Presidential candidate (future President) for 2012 on the issues of collectivism, interventionism, and one-world approaches to managing economic systems absolutely do not work as is being witnessed first-hand with the collapses of other Euro nations.
    As of 2006/7, what is the greatest financial scam in world history? Chances are you won’t even consider the Federal Reserve (FED) to be the recipient of that dubious honor, which proceeded to create our monetary problems; and Congress apparently didn’t comprehend the problem, and instead of reining in the power of the FED, Congress gave the FED more power. The FED, a privately owned and tax-exempt bank that is dominated by foreign bankers, obtains Federal Reserve Notes from the U.S. Treasury for .04 ₵ cents each, whether it is a one dollar bill or a $50,000. bill. They then sell it back to us at face value, and charge interest for “loaning” it to us. Privately owned expansion and illegal usury of the nation’s money supply is equivalent to state-sanctioned counterfeiting and economic parasitism. That is why we have a $14 Trillion+ National Debt. So strong is the foreign bankers’ stranglehold on America that our government cannot print its own tax-free, usury-free money for its own citizens. If it could there would be no unemployment, no inflation, no recessions or excessive taxes, etc., and no astronomical National Debt. According to former Congressman Bob Dole, in 1995, about 40% of the personal IRS tax went to pay the interest on the National Debt. Senator Louis T. McFadden, chairman of the U.S. Banking & Currency Commission for 22 years, said in 1934: “The Federal Reserve is one of the most corrupt institutions the world has ever seen.” In 1963 former President Kennedy, by means of an Executive Order, bypassed the FED and issued real United States Notes with no debt or interest attached. Go to a coin dealer and look at a 1963 Kennedy dollar. It says “United States Notes” , not Federal Reserve Note. According to Article 1, Section 8 of the Constitution, only United States Notes are legal tender. “Congress (not the FED) shall have the power to coin money and regulate the value thereof.” Immediately after Kennedy’s death the printing was stopped and the existing legal notes were taken out of circulation.
    What’s the solution? As per Congressional Record, the U.S. government can buy back the FED at any time for $450 million. But Congress has to act. If the Congressmen aren’t doing their job, the bribed elements should be voted out of office.
    “Permit me to issue and control the money of a nation, and I care not who makes its laws.” Mayer Anselm Rothschild.
    Through Divine Guidance, the Founding Fathers of the U.S. authored the Declaration of Independence in 1716, the Constitution in 1787, and the Bill of rights in 1791. In a world of monarchies, dictatorships, and governmental oppression, The United States was envisioned as a place where, for the first time in recorded history, “We the People” would be Sovereign, and the government, if any, would be merely be an administrative servant.
    The IRS is not a U.S. Treasury Agency and the Federal Reserve is not a government agency. It too is a private corporation. For proof, write to the Federal Reserve Bank of New York and ask for their booklet The Story of Banks and Thrifts. The word “federal” is a misnomer to fool the people. It is also not a “reserve”, because “federal reserve notes” are funny money; there are no reserves backing such notes. They aren’t even really notes, because there is no due date. Most of the income tax money is used by the FED to pay the international bankers (i.e.: the Rothschild’s, Rockefellers, etc.) their interest on the funny money they have printed and loaned into circulation.
    Through our ignorance of the nature of money, Americans have gotten into contracts with the federal banking system and its collection agency, the IRS. Once in it, you must abide by it. It was initiated by obtaining a Social Security (‘SS” = Super Slave) number, filing the first tax return, and signing the signature card at the bank which says in fine print, “I agree to abide by all the rules of the bank.” The rules of the bank include compliance with the Federal Reserve banking regulations and the IRS.
    This contractual arrangement lowers one’s status to that of the 14th Amendment “U.S.” citizenship, which is effectively slavery. You can read this by reading the 14th Amendment, Section 4. It is very clever on the part of the International Bankers, and it has worked.
    Notably world slavery or world freedom depends on world ignorance or world awareness. Someone once coined the phrase: That the most effective form of slavery is the one in which the slaves don’t even realize they are enslaved. Education is the key; and the Ron Paul, Foundation for Rational Economics and Education (FREE), can help you understand these issues for a better America.

    August 7, 2011 at 11:58 am |
  10. Looking Forward

    Concider the Following:
    Congressman, Ron Paul on behalf of the concerned citizenry of our great nation the United States of America, we believe as you do that Liberty and the Constitution will NEVER be outmoded; and we do want a restoration of freedom and prosperity for our citizenry. We believe one alternative would be for the sake of the ecological and economical potential vitality growth and inexhaustible potentials, to eliminate revenue short falls with an abundance of REVENUES that conservatives estimate of its profit potential will surpass $500 BILLION a year. In short, showed as stated by Wisdom TV, everything (the consumer uses) can see and touch can be made from this product. Additionally, this product lessens the stressors of life for all safely; insuring domestic tranquility by allowing the utilization of this natural resource, production and farming for the personal and commercial uses by its citizenry, improving the quality of life, and stopping the drug war, and saving lives! Moreover, it is not harmful, or a violent substance, nor does it push you to harder addictive substances such as alcohol, tobacco, or addictive drugs, as the government would have you believe by their biased propaganda. This product is proven to cause laughter, the best medicine, heals and releases endorphins and enhances the immune system within the bone morrow for excellent health, via a God given product; it eliminates depression and all the negatives that make you ill. Also, it is drought resistant, self-fertilizing, pest-resistant, fireproof, and fast growing for plentiful product; and oxygen producing while absorbing carbon-dioxide from the atmosphere for cleaner air quality along with our trees of more abundance; allowing for a better quality of life and healthy citizens. This product has been around since 8000 B.C. , and there is no recorded record of a person ever being harmed from this single substance, in spite of the disinformational practices of the government. Plus it would create JOBS and clean energy for America utilizing this natural resource, the list is unlimited for the inexhaustible potentials of this product, now that’s real National Security! In reality, there should be a law to prevent unreasonable depletion of a natural agricultural heritage and degradation of a valuable and natural resource that would improve the quality of life in all areas.
    The bottom line is: with a national debt of 14 Trillion+, and at $500. BILLION a year potential profit, we would only need (28) states, or all (50) states, leaving each with 44%, a profit of $220.Billion; to implement this natural resource production, and the debt would be cleared in one year!!!!!!!!!!!!!!!! Yes, this natural God given substance is Cannabis/Marijuana. Cannabis/Hemp/Marijuana, everything from A-Z that the consumer uses, can be made from this product, plus JOBS. It is a win-win situation. Then the entitlements could be enhanced rather than depleted.
    According to Judge, Francis L Young, ruled 9-6-88: “Marijuana, in its natural form, is one of the safest therapeutically active substances known…. It would be unreasonable, arbitrary and capricious for the DEA to continue to stand between those sufferers and the benefits of this substance.” According to Drug Policy News it stops cancer, and has many other positives.
    Airing on Wisdom TV ‘Spaceship Earth Marijuana A Forest Survival Strategy’ by IB&C Ges, m.b.H., Producer Gernot Schreck; in short, showed and stated everything you can see and touch can be made from this product marijuana.
    In addition to the above when implementing and utilizing this product we can use the same machinery in current use, saving costs, before adding on to for specializing productions.
    Lets not chop our noses off to spite our face, or be to stupid to be smart; lets clear the debt, heal our citizens and our nation, while globally cleaning the air; that’s good stewardship of what has been loaned to us, our great planet EARTH !!!!!!!!!!!!!!!!!!!!

    August 7, 2011 at 11:54 am |
    • roy

      looking, i gotta say, this was a little long.....but so informative, and every bit of it absolutely true!!! you have captured and expressed everything so well here....
      now, if only we could figure a way for everyone in the U.S.A. to get a chance to read it, think about it, write it down, memorize it, type it, whatever it takes to show people its awesome and should be allowed.
      one point i would have added is, the illegal trafficking put in place years ago by our failed government drug war, thats what accounts for so much violence. with no black market, they lose demand, and profits. simple economics. tax it regulate it like ciggerettes and booze, let it grow and enjoy the results....
      peace.
      roy

      August 11, 2011 at 8:34 pm |
  11. Tom

    So, if the argument is that the US spends too much. Why don't we start by cutting the salaries of those making the argument, namely the congressmen and women. We can start buy cutting their salaries and income to the the poverty level until the figure out the problems we sent them to solve. This would give them an incentive to solve it more quickly and save the US people some money too! It might not be very much its a start. And if we are being asked to sacrifice, the pain should be shared.

    August 7, 2011 at 7:31 am |
  12. Pat J Diaz

    Let’s not talk about peanuts; although peanuts are good too. There is a mayor issue that must be resolved: US jobs going overseas and those gone overseas to come back home. There is where the jobs lost are. I am not about to propose an idea on how to go about. I know it wouldn’t be simple but it has to be done.

    August 6, 2011 at 8:42 pm |
  13. carole frome

    Congratulations to the Tea Party!
    You and your Tea Party playmates sat on the ball until it was too late to raise the debt ceiling in time to avoid the downgrade by Standard & Poor. Hope you feel good about it... because ALL OF US will have to bear the cost of INCREASED INTEREST% on the National Debt.

    August 6, 2011 at 7:39 pm |
    • Pat J Diaz

      Good for you Carola, but don't call them Tea Party. Call them TP. Sounds more flushable, which should happen in 2012

      August 10, 2011 at 1:17 pm |
  14. Kahoneez

    More Propaganda & LIES from CNN & @wolfblitzercnn , former Jerusalem Post & AIPAC Spokesman .
    A. Iraq Invasion that killed over 500K was ALLEGEDLY bout WMDs NOT " LIberation " .
    B. Bush / Bremmer changed IRAQ banking Laws can be from 30 to 100 % FOREIGN OWNED , PLANNED BEFORE INVASION SO THEY were LIBERATING their ASSETS , lol .
    C. Abu Grahib & other prisons that murdered & tortured was bout " Liberation " .
    D. Journalist don't push U.S. policy , just report NEWS and they shouldn't LIE !

    August 6, 2011 at 2:54 pm |
  15. Paul

    Simple solution will fix all jobs problems in a short time. 1. Buy American. If every citizen bought only American made products the manufacturing would return in a hurry. Companies want to make a profit and if their cheap products are not purchased they will return to America. WE, the US citizens can fix this problem unless greed sets in.

    August 6, 2011 at 2:49 pm |
    • Pat J Diaz

      Good idea Paul. However, just the will of the people may not be enough anymore. For many, many items you can't find "made in the USA" anymore. We need Congress to act and change tax laws to bring back the companies that left. They left because Congress made it easier and cheaper to go abroad

      August 10, 2011 at 1:22 pm |
  16. olroy

    There's an elephant in the room that everyone ignores. It's the $10 trillion of debt inherited by Obama from a quarter-century of Republican administrations' over-spending, under-taxing, & over-borrowing, while they ignored the imperative that taxes are necessary to pay the cost of government. Wolf, & everyone else who thinks we can pay off this heritage of debt with tax cuts, or improving government efficiency alone, is baying at the moon.

    One-fifth of Americans profited from the tax cuts & the spend & borrow binge, & 4/5 of us suffered economic loss. The thinnest upper-crust of Americans profited immensely. You can look this up, but you won't find it on Fox News, talk radio, or in Republican political speeches.

    We need more revenues, period. We can get some by reducing tax preferences in our current system, but we need tax reform that requires everyone in equal family circumstances with equal incomes to pay equal income taxes no matter where their money comes from; that structures corporate & business taxes to encourage investment in domestic industrial capital, & discourages financial manipulation, or offshore investments that don’t contribute to our domestic economy. We should let America’s market economy flourish without worry about the tax implications of business decisions, instead of using the tax system, as now, to encourage certain economic behaviors & discourage others.

    August 6, 2011 at 2:26 pm |
  17. Gloria

    fairtax is the best way to grow America

    August 6, 2011 at 11:03 am |
  18. ralph

    not one vote for anyone in the house or senate in the next election if they dont come up with a solution to the deficit and the debt before the election get it done theres no need to wait till election or another deadline to raise the debt ceiling get it done or there will be no votes for any one in office now

    August 6, 2011 at 10:49 am |
  19. Little Tin God

    Here's another idea. Rescind the tax breaks and credits major corporations continue to get if they don't hire within the 50 United States. Why should they continue to rape the country when they don't help it? Oh wait!! That would be a tax INCREASE, an anathema to the right!

    August 6, 2011 at 10:04 am |
    • carole frome

      Wonderful idea, but the Tea Party would have waited to the last minute anyway. I still remember Russ Limbaugh saying, "If HE loses... WE win". Childish, but they sat on their hands... to accomplish a "WIN". It will take us 10 years to regain our status.

      August 6, 2011 at 7:51 pm |
    • ROBERT M. COPEMAN

      The U.S. GOVERNMENT needs to calculate roughly how much the S AND P mortgage backed securities rating has cost the U.S......figure out how much it has cost (STILL ONGOING) and send them the bill since S AND P were the people who got their rating all wrong in the first place........yes send S AND P the bill..........it should be trillions.................Robert

      August 7, 2011 at 1:57 pm |
  20. zsylvainz

    Would every US dollars be in the hand of 10 persons, you'd still find republicans
    who think it is good for the economy and they'd still be able to get people thinking they could be the 11th.

    August 6, 2011 at 3:41 am |
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