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BLITZER’S BLOG: Political posturing in Washington worries me about a deal
July 26th, 2011
02:11 PM ET

BLITZER’S BLOG: Political posturing in Washington worries me about a deal

Washington (CNN) –- Now, with only a week to go before the Treasury Department’s August 2 deadline for raising the debt limit, I must confess I am getting increasingly gloomy. I’m very worried no deal will be reached between President Obama and the Republican and Democratic leadership in Congress.

There may be some serious backroom talks going on to achieve an agreement. I certainly hope there are. But all I see in public is a lot of political posturing. If there’s no deal, there will be default, and the consequences will be awful for all of us.

With the deadline looming, cooler heads may yet prevail and some compromise formula might yet emerge. Indeed, until recently, I simply assumed that would happen. But it hasn’t happened yet, and there’s not much time left. Until now, I could not imagine the United States of America being unable to pay its bills.

Unfortunately, I can now imagine that happening, and it’s not pretty at all.

If there’s no deal, I could see a severe drop in the stock markets, a decline in the value of the dollar, higher interest rates and inflation. All of that could push the U.S. economy into another Great Recession. I hope I am wrong and those economists who say the country can in fact absorb the pain of no increase in the nation’s debt ceiling are right. But it’s a huge risk that we shouldn’t need to take.

When White House officials say there might be “economic calamity” for the country if there’s no deal, they might be right.

RELATED STORY: Lawmakers struggle to break stalemate in debt talks

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Filed under: Debt • Politics • Washington • Wolf Blitzer
soundoff (212 Responses)
  1. Since57

    American's, it's time we TAKE BACK OUR COUNTRY!

    All of them, ALL of them should be thrown in the street. This is nothing more than a competition between these two rediculious parties. They had Months to figure this out, and now we are down to 6 days. Each side does not want to give, it's all about what side wins, that's all. The people, screw em, we don't matter.

    Eliminate the Dem, and Rep, eliminate ALL parties, all of them, ALL!
    WHY! do we need all these separate parties? WHY? It's one county, it's the United States we should all be one, not divided. The WORLD is laughing at us now, this is what they have done for us, the world is laughing. If our credit rating is hit, we the little people will be the ones hit hardest. The rich won't feel a thing.
    Just heard on CNN General Electric's Xray div is moving to CHINA! F.U, GE., F.U.

    Be ready for the mess.

    July 27, 2011 at 6:31 pm |
  2. Pat J Diaz

    Response to: "Spending is out of control at our nation’s capitol. The President’s latest (probably unconstitutional!) spending spree!"
    I can’t believe these kinds of opinions have a deviant intent. What it scares me is the lack of reality of them. So misinformed!!!

    July 27, 2011 at 2:10 pm |
  3. David Ruggles

    Spending is out of control at our nation’s capitol. The President’s latest (probably unconstitutional!) spending spree is to buy worthless land from France-a nation we were just having a war of words with a few years ago! If you stacked all the dollars involved in the land deal together, it would be a stack three miles high! We have never seen such a waste of tax dollars! It makes you worry about the future of this country…except these arguments were made in 1803 about Thomas Jefferson and the Louisiana Purchase. Luckily for Oklahoma and some other states, Jefferson bested his critics, and history proved them wrong on all counts.

    Since the beginning of our country, we have been having debates about the size, scope, and expense of government. The issue is whether we can continue to do it in an internet age without being derailed by constant distortions from the left and right fringe. If we try, I bet we can if we gather facts from different reliable sources.

    July 27, 2011 at 1:27 pm |
  4. Pat J Diaz

    For all of you that blame President Obama for the economy, I dedicate this story. With love to you:
    Part 1
    Mr. Democ and Mr. Repub worked as security guards at the Imagin building in the city of AnyUsa. The building was a 235 story building that after years of use had shown some structural deterioration. One night Mr. Repub was on duty at the 04:00-08:00 shift. Mr. Repub said that he had fallen asleep while guarding the 235 story Helo platform and he didn’t notice that a well-known Billionaire, Mr. Don Banks had entered the platform. Mr. Banks had been doing some tricks that he liked to do but that many considered pretty risky. While Mr. Banks walked close to the edge, the guard, Mr. Repub, witnesses contended, was not in fact sleeping and they said that he had encouraged Mr. Banks to do such tricks all along. In fact, Mr. Banks and Mr. Repub had become pretty close friends. There was also a witness: Mr. Wepress. Mr. Wepress was confused and he couldn’t tell why Mr. Banks fell
    The fact was that Mr. Banks fell off the building. Mr. Repub run to see how Mr. Bank was doing and he attempted unsuccessfully to grab Mr. Banks and he even threw him some parachutes in the way down. At that point Mr. Repub noticed that his shift had just ended. So, Mr. Repub wrote in the book that Mr. Banks had fallen off the building but as far as he could see (that was story 200) Mr. Banks was in distress but it was still OK and it was Mr. Democ’s duty to see that Mr. Banks would land well.
    Mr. Democ got on duty and realizing what just had happened tried to slow down Mr. Banks’ fall but at no avail. However, Mr. Banks did not die. Fortunately for him, he landed right on top of a passerby. Mr. Peoples. Mr. Peoples didn’t die either but he was badly injured. He couldn’t work for many months, he lost revenues, his house was foreclosure, and he couldn’t get a job afterwards. It was found that Mr. Peoples’ job was in one of Mr. Banks businesses or of some relatives of him.
    Part 2
    Although Mr. Banks had to pay some loans for medical bills, he recovered and soon was apparently very healthy, while Mr. Peoples continue being in distress. Mr. Peoples had no money to pay for his medical bills and his standard of living suffered greatly. Mr. Peoples alleged that Mr. Banks risky behavior had caused him to fall and injured him. Mr. Banks kept quiet but got Mr. Repub to get others to rather focus on what Mr. Democ was doing to restore Mr. Peoples’ health
    Mr. Democ said that once Mr. Banks fell there was no way to stop him in midair and that Mr. Peoples was bound to receive major injuries during his shift. The injuries were so bad that nobody could expect for a quick recovery. At that point, looking still confused, Mr. Wepress said that it was time to end the blame game and rather focus on what Mr. Democ’s failure to provide that Mr. Banks did not fall so hard on Mr. Peoples and if he did he could have taken Mr. Peoples to the emergency room and get him to recover more quickly
    Mr. Banks says that Mr. Peoples is not without fault, he could have been watching where he walks, he said, and he should pay for his own recovery by accepting a job with lower wages and less benefits. If I were to pay for his recovery it will hurt my business, my profits will decline and I will not be able to even offer him his job back. Mr. Repub went on to publish some statistics that during Mr. Democ’s shift, Mr. Banks had fallen 200 stories down the building while in his own shift Mr. Banks fell 23 stories only.

    Part 3
    Mr. Peoples bills continued to pile up. At the same time, it became evident that the entire building was in pretty bad shape, almost about to collapse, and needed some money for repairs. Mr. Repub contended that too much money had been spent on Mr. Peoples’ recovery with no good results. Mr. Democ stated that that was not true because Mr. Peoples was about to die and now he has been even walking for a while. Mr. Repub replied “but it is not running” which is what he needs to get a chance to work for Mr. Banks again. Well, continued Mr. Repub, it was you fault after all. Remember that he fell 200 hundred floors on your shift. Mr. Democ started to say the 200 floors could not be avoided, after Mr. Banks fell the first 23 floors, when he was interrupted by Mr. Wepress with the “-blame game again” Mr. Democ thought: “They blame me all the time and I cannot even start talking about their blame” but, being as shy as he was, he didn’t say it
    Mr. Democ asked “can we first agree to get some credit so that we can fix the building?” At that point Mr. Repub angrily replied: “I wouldn’t even want to talk about getting a loan to fix the building until Mr. Peoples agree to fewer benefits so that Mr. Bank’ business can keep their competitiveness. Mr. Democ says: “remember that the hospital is on this building too and if it collapses it will fall right on top of Mr. Peoples, and I think you should pay some of the money for Mr. Peoples recovery so that there will be enough for fixing the building too. Actually, if Mr. Peoples could start working part-time now, it could help. Mr. Banks, that most of the time keeps quiet, completely recovered and looking amused, said that he would be afraid to re-hire Mr. Peoples now when he is not even sure the building could start crumbling
    Part 4
    It was so evident for Mr. Democ that if the building was not fixed, Mr. Banks will not re-hire Mr. Peoples, and if Mr. Peoples doesn’t go back to work there is less money he could spend and get taxed on. Money needed for his own recovery. However, Mr. Repub would not agree to get the loan to fix the building if Mr. Banks was asked to put any money for Mr. Peoples’ recovery.
    Due to the fact Mr. Banks’ fears of building collapsing wouldn’t allow him to re-hire Mr. Peoples. Mr. Peoples’ work couldn’t really help on the recovery of the economy. This caused the job statistics to go south again. Mr. Repub saw the statistics as another proof that Mr. Peoples’ treatment by Mr. Democ was a failure. Although it was pretty clear for Mr. Democ that the job statistics would be much better if Mr. Repub had agree to get the loan to fix the building… but, being as shy as he was, he didn’t say it.

    July 27, 2011 at 10:46 am |
  5. Pat J Diaz

    I am sorry to say this, but you are part of the problem. When you see all in Congress as a blur you are not helping for a solution. We must pay attention to figure out who is right and who is wrong.

    July 27, 2011 at 10:42 am |
  6. David Ruggles

    This time it is different. The Tea Bagger Republicans have a "death wish." They don't care. Its like dealing with Muslim extremists who don't care if the die.

    Soon, many people will figure out they need to liquidate everything they can. I already have. Of course, the moment it begins, the electronic sell off it will trigger will make the events on Wall Street surrounding TARP look like kindergarten games. The Republicans are giving up NOTHING. We need the additional 4.9% tax on income over $250K AGI to make an plan work. The Tea Baggers just won't give it up AND want to cut Social Security and Medicare benefits.

    July 27, 2011 at 1:58 am |
  7. Marilyn Smith

    I have lived in Ohio most of my life and in 2008 was the first time that I have actually taken a role in electing representatives to assist me with building our America. What saddens me most about the this whole situation is; republican representatives from Ohio are not willing to think of all Ohioians when it comes repairing the deficit. What I hear from House Speaker John Boehner over and over again is how he was once a business owner and he understands what the implications would be if [they] increase taxes on the wealthy and what it can do the economy. Well, what about those who never owned a business? It appears to me that all he and other Ohio representatives are more concerned with is pleasing Corporate America and damn with those working and living on Main Street.

    July 26, 2011 at 8:16 pm |
  8. Michigan_Joe

    How about closing the commodity markets until there is a "debt ceiling" fix and a balanced budget? Perhaps if Wall Street heard this they would pressure where it belongs.

    July 26, 2011 at 7:40 pm |
    • Marie Noguerole

      Can't be done Joe. First is not a realistic solution. But more importantly we live in a world of free markets. We are not fascists. The fact is that we are watching is a game of high stakes poker. Each side has something to gain and something to lose. They have been sizing themselves up for weeks. The Republicans have been putting on a rather dramatic piece of theater. But thats pretty much all that its been. Cantor's walking away from the negotiating table with Biden I believe was preplanned and may have been Boehners. I believe McConnell has been orchestrating and advising the House Republicans with the intention of drawing the negotiations into the 11th hour to see if Obama will fold. Will he sell the deed to the farm to save the economy or will he call their bluff. They know that the Executive branch has the Constitutional authority for Obama to sign an 11th hour excutive order to raise the debt ceiling because they also know that we cannot defaut on the national debt. Is the actual deadline August 2...I tend to think thats an arbitrary date used as a buffer from the actual date when we will really be in jeopardy. The Fed has kept a pretty low profile but you know they are making contingency plans if these dueling roosters in congress don't get this thing done in sufficient time. The Republicans are also playing a game of trying to demasculate the President by bypassing his efforts to negotiate a deal and going directly to Senator Reid. Embarrassing I'm sure for the President but after 2 1/2 years of continued show of disrespect for the man and the office this latest affront probably didn't come as a surprise to him even though it may have shocked the voters. It was not a smart move on their part judging from the hundreds of comments I've read on boards across the internet. The amount of influence from the Tea Party is the one element that has kept this situation from coming to a close not Obama. I sure Republicans and Democrats would have already closed a deal that ultimately they would have to live with until 2013 were it not for the Tea Party freshman and Eric Cantor. Let me say of him that I believe he is positioning himself at Boehner's expense to be the next Speaker of the House. If that happens this country will go through some dire times in the months ahead. I'm confident that Obama will not let the country go into default. What the cost will be to him and the middle class is what is unknown at this point.

      July 27, 2011 at 4:29 am |
  9. Pat J Diaz

    A Republican Senator this morning stated what Republicans believe it must be paid if the Government defaults. He listed Social Security, the military and interests to bond owners. What I would like him (them) to do is to provide a list of those that will not be paid

    July 26, 2011 at 7:39 pm |
  10. John

    Are the American people ready to arrest the congressional republicans? and hold public trials?

    July 26, 2011 at 7:37 pm |
    • Marilyn Smith

      John, well where should the public begin when deciding the actual charge [s] and is there enought evidence to charge them?
      1. Waste of the American people tax dollars;
      2. Committed years of fraud; and
      3. abuse of their representation.

      July 27, 2011 at 12:19 am |
    • Marie Noguerole

      They can't be arrested because they haven't commited a crime. But they certainly can be recalled by their constituency.

      July 27, 2011 at 4:39 am |
  11. 2bits

    A nation of greedy corruption cannot long endure.

    July 26, 2011 at 7:34 pm |
  12. Doug

    You should rename your show " The Obama Campaign Room ". Yeah, you are that obvious. Doug.

    July 26, 2011 at 7:34 pm |
  13. Rhymeskeema

    Wow. A bunch of do-nothing blowhards "posturing." I will not pay into this system if they do not figure out how to balance a budget. It's like giving a teen meth head a credit card.

    July 26, 2011 at 7:33 pm |
  14. Cornerstone View

    I'm middle aged, white, and female. I've seen a lot of discrimination and hate in my life, but this rabid drive to discredit a black president is just jolting, and revolting. It's also blatant, and stands as a test for this country to the world, to see what we are actually made of. Frankly, House Republicans make me ashamed to be a member of this great society. They will never represent me again. Public memory is not quiet so short as the Grover Norquists in the world, depend on.

    July 26, 2011 at 7:32 pm |
  15. James

    Sorry, it's you that's naive. Your whole argument is the exact same one that I've heard time and time again by Conservative Republicans and it's all a bunch of garbage. Dou you really think people are really that stupid to buy this nonsense? I have a very difficult time listening to people who have the propensity to repeat something they've heard without checking the facts for themselves. You people act like the 8 years before Obama came into office doesn't exist. GW Bush left this country in shambles and if you believe in God and Jesus Christ, even they couldn't have cleaned up his mess in 2 1/2 years. Oh yes Obama is the President and it's his responsibility now the man since day has done nothing but try and stop the bleeding from the gaping wound created by Bush. Everybody want's to complain about the deficit and the money Obama is spending; if you knew anything about business you would know that if it's failing and you think it's worth saving you have to pump some money into it. Did Obama get us into two wars that to date has cost over $4 trillion dollars and countless innocent lives? Did he create the disaster on Wall Street that created a situation if not fixed would have collapsed the entire American Econom

    July 26, 2011 at 7:28 pm |
    • James

      Me, you are the ignorant one because you'll let anyone brainwash you. You probably never had an original thought. You are so far out of your league when it comes to issues of substance. When you do some research and able to present fact rather than just psycho babble you've heard you may begin to grow. Right now you're just stuck on stupid.

      July 26, 2011 at 7:37 pm |
  16. Uthor

    Of course it's posturing. It's political theater and brinkmanship, a false crisis created by making an issue out of what has not been an issue during the other 102 times the debt ceiling has been raised since 1917. If the GOP can leave this unsettled–through a series of brief extensions–they will continue to use this "issue" to hijack the government and any productive legislative sessions until the elections in 2012.

    While the debt created during the last decade needs to be addressed, it's disgusting to see this continue.

    July 26, 2011 at 7:26 pm |
  17. Roy

    Wolf I agree as to the political posturing. The public needs to understand whether a deal is completed or not the ramifications as to the uinderpinnings of our financial system, its architecture and future governments will eventually unfold a tale of I told you so with serious reprecussions. The government has had more than sufficent time to address this critical problem. Do you really believe as the months go by that the government will improve as to living in the solution rather than the problem? Our system requires a complete overhaul and that all nations globally should should accept that, if we are to develop a sustainable and stable financial and economic system. Those who are bullish have the blinders on. Historical evidence in this day and age has no baring on what we are about to face in the future. As a final point, simply look at the cast of characters who control the hydralic steering of the ship in Washington, is it any wonder and should you question why we are in this mess. Outside of the hills domain is numerous intelligent qualified individuals that are better suited to address many of the problems we are faced with. They would address critical issues when its a concern rather than a problem.

    July 26, 2011 at 7:26 pm |
  18. [ Anonymous P@TRi0T (S3KShuN8) ]

    Based on former President Clinton's analysis (which I support based on personal research) all President Obama has to do is to get Supreme Court approval to invoke the 14th Amendment. But that is not his preferred option. He *wants* Congress to approve this. He *does not* want to exercise an Executive Privelege(sp?) that might hurt his chances of being re-elected next year. This to me says that we in fact have THE_RIGHT_GUY in the White House !!!

    July 26, 2011 at 7:23 pm |
  19. orlop

    It is time that the people of our country realize that our nation is not worthy of a triple A credit rating. We are a debtor nation that has lost it's ability to cover it's obligations without continuous borrowing. Therefore, as horrible as it sounds, we should allow this fight in congress to continue until a resolution is achieved that will fundamentally change our entitlement addiction. Let the markets react as they may once the deadline passes. If it costs us all in higher interest rates for years to come it is only our punishment for the life that we have lived on credit due to our nation's past reputation and the generosity of nations such as China, Japan, and Germany who have purchased our debt. We must accept that we are a poor nation and begin to live below our means so that we might dig ourselves out of this mess and restore the United States of America to the stature that exists now only in our memories of the past.

    July 26, 2011 at 7:16 pm |
  20. Mona

    Thank you for challenging the malarkey that Jim Jordan was spouting! What a treat to see a loud-mouthed bully kept honest! Apparently he and his fellow Republicans think if they repeat something often enough they can make it appear to be true.

    One more thing that needs to be challenged every time it's stated: "The American people want..." Republicans Boehner, McConnell, Johnson, Jordan, etc. seem to be overly fond of using that phrase, implying they have the support of the American people on their side, even though polls show their myopic viewpoint has the backing of only one-third of the American people.

    By foolishly hanging together, the Republicans have made a Faustian bargain that threatens to destroy more than just themselves. They're literally "fools on the Hill."

    July 26, 2011 at 7:10 pm |
  21. Gail

    The daily debt incurred under clinton was 542 million a day...1.8 billion for Bush and 4.1 for Obama....Obamas spending spree must come to an end...say what you will, but at least the right is doing something to STOP THE SPENDING....Obama wants a free ride, and he will be the doom of us yet....

    July 26, 2011 at 7:05 pm |
  22. The Gumbo

    That's right the GOP as we once knew it no longer exists. I know Mr. Boehner wanted to go down in history as doing great things for our country. Instead he got in bed with the devil and has lost all control of his party. Mr. Cantor is the real leader of the house, Mr. Boehner is just a front man. Mr. Boehner, man up and stick to what you believe in. It shows in your face when you are out there giving the Tea Party talking points, that you don't really feel this way. You will have more respect than you do right now if you just be yourself. I used to respect your thoughts, even when I didn't agree. But now sir., you sound like you're programmed as well. Are you guys part of some cult? How can you let someone who probably not even born or just in diapers when you started in politics tell you how to do your JOB. SHAME ON YOU MR. BOEHNER ! ! !

    July 26, 2011 at 7:02 pm |
  23. Marie

    I am fed up with the posturing on both sides. Any elected official who can't sit down and work things out should be ashamed. They ALL should immediately be on the healthcare program the rest of the U.S. is on, have their pay cut, and benefits severely scaled back. They're NOT special, they were elected and work for us! They need to be reminded of this. Call and write them daily and let them know they need to stop acting like children. If they were required to have the same benefits and cuts they're ramming down our throats, they would have resolved this long ago.

    July 26, 2011 at 7:01 pm |
  24. Michele R.

    The cynical side of me wonders if the GOP created or has maintained this crisis so the failing economy can still be blamed on Obama in 2012. Why else to demand to revisit the issue in a few short months instead of a long-term solution? It may backfire as the truly wealthy GOP top guys are going to be very unhappy when their portfolios start tanking. You can imagine the phone calls already being made. The tragedy is the working poor middle class guy and college student with loans will be the first to see interest rates rise.

    July 26, 2011 at 6:54 pm |
    • CPK

      The middle class is also going to be the first to see their 401k's wiped out. The folks wealthy enough to afford investment advisors have already sold out of equities.

      July 26, 2011 at 7:11 pm |
    • Pat J Diaz

      Michelle you get it so right

      July 26, 2011 at 7:41 pm |
  25. paul

    You know we could have this thing solved within 5 days if we locked all of congress in the house without food or water. They'll start dieing off of thirst within about 3 days, then after the first couple go I imagine their motivation will be much improved, I'm willing to sacrifice a few of them to get this thing done, its all about compromise, you know?

    July 26, 2011 at 6:53 pm |
    • Marisa

      variation.. lock them in and make them eat nothing but ramen or whatever it is truly poor people buy to fill their belly. Oh, and no AC, no comforts at all.

      July 26, 2011 at 7:13 pm |
    • Jimbo

      Now that is a plan even Dick Cheney could love.

      July 26, 2011 at 7:16 pm |
  26. lori

    This is really about wealthy conservative republicans that have never wanted Obama as our president. He is now a powerful black man running our countr fighting for the middle and lower class. Are you kidding? When did you ever hear a white conservative Republican want a black man run our country? Never, not in our history! They will not compromise they would rather our country go down rather than allow him to have history follow him as one of the greatest presidents we have ever had. Well he is and history books forever will show how he changed our goverment for the best.

    July 26, 2011 at 6:50 pm |
    • buddha12

      Lori-what planet are you from. I really hope you don't believe that Obama is for the low income people. if that were so, why would he be having fund raisers that cost $35k/plate. And what has he done to expect anyone to respect him? I respect the office he holds, but hold him in contempt. Wasn;'t he the one that said this would be the most transparent presidency in history? Lets see, Obamacare passed without even beibng read by the house, 35-40 Czars that answer to no one but him. I don't get what you "Kool-aid" drinkers see in him. It sounds like you are just as racest as the people you belittle.

      July 26, 2011 at 6:57 pm |
      • John Kelly

        The money spent by Obama was due to the mess he was handed by Bush, let me remind you the stimulus actually started with Bush. The money got spent and debt ceiling raised many many times, prior to Obama's presidency while Boehner was in congress (he was participant and now fails to address that), why does he have any issues this time around? Cuts oh yes lets cut benefits that people don't deserve, lets start with tax-loopholes which many do not deserve. Oh no do not touch the job-creators (code word for multimillionaire) well I do not see them creating jobs do you? when tax loops and taxes are increased on the rich... oh oh! sorry the job-creators, is not going to cause them to be homeless or unable to get their medication. If "spending cuts" to the medicare benefits pass, that is exactly what will happen to low income and many in the middle class. "Spending cuts" in essence are a tax to the middle and lower class! Yes a TAX ("spending cut" new code word for taxing the middle & low income population) by republicans who would never raise taxes. We fool our selves into believing a lot of things that are contradicted by reality just remember money talks. They only side with their buddies and their lobbyists who give them money to be elected. They should be ashamed specially Boehner, and that comes to show that the tears coming out of Boehners eyes are only theatrics!

        July 26, 2011 at 11:09 pm |
      • vernice

        please explain the "kool-aid" comment? I don't understand. If you are refering to blacks, you are an idiot....

        July 26, 2011 at 11:40 pm |
    • Jay G

      I'm a white conservative Republican and I have absolutely no problem with Obama being president. Think he's done a pretty decent job even if I don't agree with his policies.

      This debt crisis failure is at the hands of Congress, not the President. It's unfortunate that no Democratic Congressmen will step up and at least try to take ownership of this issue like the President was. It's also unfortunate that both sides can't seem to get past the extremists on each side of the aisle.

      July 26, 2011 at 6:59 pm |
    • Jim

      The truth is that Obama is the worst President that most of us will see in our lifetime. The economy is in shambles despite a trillion dollar program intended to rescue it, unemployment is the highest any of us have lived through for this long a duration and his healthcare program hasn't even taken effect. It will kill even more jobs and cost far more than any existing entitlement program.

      July 26, 2011 at 7:04 pm |
      • veronica

        hmmmm.... he greatest for you? Bush Jr.??????

        July 27, 2011 at 7:14 pm |
    • Jay

      @Lori, the one big thing that President Obama has done is attempt to provide government-centered health care. Now, based on what we are now seeing about the sustainability of Medicare and Medicaid and their current expense vs. budget issues, it makes sense to say even this legacy will not last through the next 50 years without major referendums. Sorry, but barring some unforeseen circumstance, President Obama will be average, at best...we have had a number of worse presidents who were white conservatives: race has nothing to do with it. What breaks a US President is the ideology that government can provide for people better than people can provide for their own families, which is completely contrary to what our founding fathers and other great presidents in our history have subscribed to (it's also contrary to the hard work ethic that Americans have been known for).

      July 26, 2011 at 7:05 pm |
    • paul

      Jury is still out on Obama's presidency, so far, I can't say he's been one of the best in my estimation, but then I won't write the histories. I'm impressed that he did what he said he would do and passed healthcare reform, like it or not its his plan and we voted him in largely on implementing it. That and it was a better choice than McCain/Palin. There may be tweaks to it but healthcare needed to be reformed and it has at least started. The bail outs and the stimulus is another matter however. Thats where he blew it to me. But hey he took a shot and he missed. Costly but it was his choice to make and he didn't make it alone. He's not the best, he's not the worst. Congress on the otherhand has been total garbage for quite a while now. How is it the vast number of Americans are in the middle but all our elected representatives are fanatic theocratic fascists bent on a Christian version of sharia law, or left wing comunist guerillas.

      July 26, 2011 at 7:26 pm |
  27. Stephen Rosenhek

    How about a little leadership by example:

    1 – President Obama to work for the balance of his term for $1 and challenge Congress to follow his lead
    2 – President Obama should reduce all White House staff salaries by 20% across the board and challenge congress to do the same with their staff
    3 – President Obama should purchase his health insurance in the private marketplace and challenge Congress to follow suit
    4 – All discretionary expenditures of the White House and Congress (such as travel, entertainment, fitness clubs, etc.) should be cut by 50%

    And some substantive ideas:

    5 – Impose a 10% deficit reduction surtax on all earned income over $1MM. To protect job creation by small businesses do not impose the tax on undistributed small business income
    6 – Impose a deficit reduction tax on cigarettes. Approximately $100B is spent annually in the US on cigarettes. A temporary 10% tax would generate $100B over ten years.
    7 – Establish a 10% – 15% AMT (alternative minimum tax) for corporations

    This won't fix the problem but its a start.

    Larry and Stephen Stowe

    July 26, 2011 at 6:44 pm |
    • CPK

      Those sound like nice ideas, but I don't really see them (or any other of the current plans) actually passing both houses. Not to mention that they wouldn't save enough money to prevent a downgrade and all the accompanying calamity.

      July 26, 2011 at 6:56 pm |
  28. AndyG


    The Dems have agreed – at various times – to large spending cuts, entitlement reform and a deal with no tax increases. That sounds a lot like compromise to me.

    Can you tell us what the Republicans have compromised on? Because from where I'm sitting, the House Rs are looking like small children threatening to hold their breath until they turn blue unless they get absolutely everything they ask for. And a pony.

    July 26, 2011 at 6:42 pm |
    • Jennifer

      The Republicans have compromised on tax reform. In other words, fixing the tax code so there aren't zillions of write-offs on every level. This will bring in a great deal of revenue without needing to raise taxes.

      But that's okay, you go ahead and continue blaming the Republicans for the Democratic congress of 2009 – 2010 not passing a budget at all. It's only been 800+ days the Democrats were missing in action.

      July 26, 2011 at 7:20 pm |
  29. Democrat

    I am beginning to think that we should just forget about raising the Debt Limit and then Government will have to live within it's means like Americans do. DO NOTHING ON THE DEBT LIMIT INCREASE. HOLD IT.

    July 26, 2011 at 6:40 pm |
    • snaga

      Americans also have to pay their bills.

      July 26, 2011 at 6:56 pm |
    • Uthor

      Really? If most Americans did a debt to income ratio it'd far outstrip that of this nation's. Get real and stop peddling nice-sounding platitudes; many Americans don't live within their means.

      July 26, 2011 at 7:31 pm |
  30. John Boushka

    I just got an automated call from the Tea Party for a "Hold the Line" rally tomorrow in DC. May go to film it. I think my blogs (Google me to find them) are pretty moderate. Why did I get this call? I saw your blog entry, and I am very concerned. Ezra Klein wrote a great piece in the W Post on what it takes to solve this. JBoushka is my twitter and facebook is John W Boushka, leads to blogs.

    July 26, 2011 at 6:27 pm |
  31. Rhonda

    Has anyone noticed that the tea party all look and act like they are programmed. Is this some kind of cult? They all have been trained to not answer real questions. No matter what you ask them, their answer is something about President Obama. I you ask them about the weather, like why is it raining? Their response most likely will be that it's the Presidents fault. I've seen many times and frustratingly so that when these people are asked any kind of questions, their answer is Obama.They are programmed to all say the same thing and do the same thing. We don't want people in office that can't think for themselves. Politicians should not be allowed to hold office if they sign a pledge which may later destroy our beautiful country.

    West Texas

    July 26, 2011 at 6:25 pm |
    • buddha12

      Rhonda-WOW, and all of this is George Bush's fault, correct? You have been reading too many liberal blogs.

      July 26, 2011 at 7:00 pm |
  32. Mark

    Good grief. Yet ANOTHER editorial assuming that failing to raise the debt limit means that we will default. THIS IS NOT TRUE, and Mr. Blitzer should know better. We have plenty of tax money rolling in to pay the interest on the debt, so default is not a danger ... UNLESS the administration chooses to spend that money elsewhere and screw our debtors. THAT is what will cause all the dire things they keep talking about, and it can be easeily avoided. But you won't hear that on CNN, apparently.

    July 26, 2011 at 6:19 pm |
    • CPK

      It hardly matters whether a literal default occurs. Even the appearance of a default will cause a downgrade, which will cause the stock market to crash, the dollar to tank, commodities (priced in dollars) to spike, and interest rates to rise.

      July 26, 2011 at 6:46 pm |
    • JRR


      While that is technically true, it is ultimately immaterial. The fact that we will fail to pass a bill that will allow us to pay all of our debts, and I will count Social Security Medicaid and Medicare checks as debts, will lead the markets to lose all confidence in the United States' desire/willingness to pay our bills. This will then lead to market collapse and force the rating agencies to downgrade the debt, leading even further into a vicious cycle which can in theory lead to the next Great Recession, or worse Depression. The fact that we will be paying our interest on these bonds will mean very little under those circumstances.

      It is similar to someone not paying thair mortgage but saying "Hey at least I kept the home owner's insurance up to date!"

      And let us assume for a second that the market's didn't penalize us for not raising the debt ceiling. Even if the absolute best case scenario occurs, there is no default, no downgrade, and we continue on, what about the fact that many American's count on the checks we will be choosing not to prioritize so that we can continue to pay our creditors? What, Grandma isn't that important? Forget even the argument of whether or not entitlments are a worthwhile expenditure and look at it solely from an economic point of view. Take Social Security, if those checks don't go out then senior citizens across this country will have problems paying for food, rent, medical treatment and a host of other things, let alone consumer goods that drive our economy. Further their relatives will be forced to use their limited financial supplies to care for them, leading to less disposable revenue to pump into an already faltering economy. Again this leads to economic contraction.

      No matter how you slice it not raising the debt ceiling will have an adverse effect on this economy, so really is it so important the distinction between the fact we would or would not be able to pay our interest? Because if we prioritize that, we will be sacrificing elsewhere, and still shooting ourselves in the foot.

      July 26, 2011 at 6:48 pm |
      • Shaka

        Very well said JRR! God help us if they don't get their act together soon...very soon! I truly believe the tea baggers really want this default to happen....and that they hold enough votes to LET it happen. I am beginning to really believe that 2012 is the end of the world, hahaha....

        July 26, 2011 at 9:34 pm |
    • Pat J Diaz

      Mark, I believe you said the Government will not defaut to its Lenders because we will continue paying the interest. However, it will default on other payments due to the fact income will be less than expenditures. What bills you suggest the Government should not pay when there will not be enough money? Please, don't tell what should be paid. Tell which ones are not to be paid

      July 26, 2011 at 10:07 pm |
  33. Sahari

    Isn't it obvious to everyone that the degree of polarization we are witnessing in ALL things (not just politics) is heralding a sea change? This ISN'T ABOUT DEMOCRATS VS. REPUBLICANS! This is about recognizing, each of us, that we hold the answers, that we can no longer expect to gain a solution via manipulation of THINGS EXTERNAL. Science has found quantum physics which tells us that we create our own reality. Each of us. Whether we like it or not, we are being shown the door to a multi-dimensional reality, and this is why our third-dimensional system of duality cannot continue to function. Love is the only value now - not gold, not silver, not dollars, not power. Love.

    July 26, 2011 at 6:14 pm |
    • Denizen Kate

      I could hear Kumbaya in the background as I read your post. Sorry, we don't live in that world you describe, not yet and probably not ever.

      July 26, 2011 at 7:17 pm |
    • Cat

      *clapping* right-o!

      July 26, 2011 at 7:18 pm |
  34. Carolyn S Hansen

    One budget solution:
    No pay or health services for Congress paid by Tax Payers. It is Welfare paid by tax payers as well. Do your job. We pay you to serve all Americans.

    July 26, 2011 at 6:14 pm |
    • ryan

      Thats my kind of entitlment reduction

      July 26, 2011 at 6:30 pm |
    • Just thinking

      You are so right. We should be able to sue them for not doing their job. But this is what they do best, take our money and screw us. They are here to serve America, not just the tea party. What a shame, the same people who created all this debt under the last President is refusing to pay for it now. What a joke. News flash Boehner, this is not about making Obama fail, you are willing to let the country fail just to destroy Obama. Are these people really AMERICAN or what.

      July 26, 2011 at 6:35 pm |
    • Marisa

      Why do we provide fancy cars for them? and medical for their family and a pension they could live on in so few yrs? when did we put all these nice cushy perks in place? and how do we revoke them?!

      July 26, 2011 at 6:45 pm |
    • Marisa

      Furlough days for politicians.. teachers now have them, and the libraries, etc. and we CUT their pay accordingly. And stop the perks.. Example of how things go in our country, I was a Calif teacher.. I was told to learn Spanish and pay for the classes myself. I drove my own car, I have a pathetic pension now, AND the gov is keeping much of my SS lest I have a windfall! Yes, I pd in for many yrs and the gov claims they can legally keep the SS teachers have paid in. How is that even legal? anyhow, at this point I detest our gov. How can we take back our country from the greedy politicians?

      July 26, 2011 at 7:09 pm |
    • Cat


      July 26, 2011 at 7:20 pm |
  35. Clint, Wa.

    Enough is enough, no more game playing, get this done.

    Americans need to pressure their elected representatives to work out a compromise that will avoid a potentially devastating default, President Obama told the nation.

    What all of you finger pointers need to realize here is that it is not President Obama’s job to put a plan forward, he is not one of your representatives, he is the President of this great country.

    Your representatives are in the House and in the Senate, and this is where the plans come from. Then the plans are submitted to the White House for his
    consideration. It is his job to be bipartisan and look at both plans for compromise and what is best for all Americans.

    Being a Democrat or a Republican, any president or any politician should not be swayed one way or the other by their political party, but be bipartisan in the best interest of the American people and this country.

    President Obama’s own party is very upset with him and his bipartisanism as to
    being willing to compromise and negotiate with entitlement programs - such as Medicare, Medicaid, Social Security and other programs, which was in good faith on his part.

    If it were not for his stepping in and letting the senate (democratic side) know that this bipartisanism is needed to get anything done, it is again called compromise.

    Where is it on the Republican side?

    July 26, 2011 at 6:12 pm |
    • Jonathan

      Dear Sir or Madam from Clint, Wa.

      The President represents us, just like our members in congress. The only problem is that we are a republic that is being choked by extremist at both ends. I am a Republican and so are many of my friends. I also have friends that are Democratic. What is common is that we have a love for our country and are willing to put our lives on our line to protect the ideals spelled out in the constitution. You guessed it, I am in the military. What is funny is we love our country so much that we are capable of coming up with a solution that we all agree to. Republicans and Democrats – unbelievable! Don't be pulled in by media hype. This fiscal crisis has been caused by both parties and politicians that have been selling us a bunch of goods! “Elect me and I can make things easier for you.” (This is not a direct quote, but the gist of what we hear every election). What I do know is that we have a new generation of Americans that have a high sense of entitlement and no sense of responsibility. All I hear is blame on another person. “It’s the Democrats!... It’s the Republicans!”

      Personally, the blame falls on us for letting it last this long!

      July 26, 2011 at 6:46 pm |
  36. lynnie CO.

    can someone please inform the republicans that pres. obama is an elected employee of the american people and that he is not trying to apply for a loan to buy the united states. ( seeing how approving a black man for a loan is frowned upon in this establishment). obama is trying to get the dept ceiling raised so that we can pay the bills the the republicans have run up from 2000 to 2008. if the dept deiling was raised 10 time since 2001 by GWB what is the problem with obama having one or two shots at it. how long do we have to pretend this time that racism, hatred and our much protected ,taught and handed down disrespect for the black male in our country is just a figment of our imagination. (yea ...thats right, i still love this country even though those who run it kick me in the teeth every still the best place to be).

    July 26, 2011 at 6:11 pm |
    • jaleslie62

      I just want to say that this situation we are in has been caused over time by both parties . The congress allowed PresBush 8 chances at debt relief package and it was approved by both parties in the past Those p eople in congress that would rater bite off their nose too spite their faces because they want what they want All of the people in our congress that signed a pledge not to okay tax increases from the rich need not apply next year and all of you bloggers need to not forget that this ishappening. I The gov takes almost 1/4 of my salarie for taxes and they dont want to tax people that are getting tax breaks Just dont yall forget we all need to take a pledge to hold them accountable for this.

      July 26, 2011 at 6:44 pm |
  37. matrix09

    This country is already over Wolf. Even with some kind of last minute deal this is how we do business now Economic terrorism by the Republicans and Economic cowardise by the Democrats. I'm begining to see how the Facists came into power in Nazi Germany.

    July 26, 2011 at 6:08 pm |
  38. CPK

    Wolf, you're going to see a "severe drop in the stock markets" later this week simply on the RISK of a default. Moreover, I don't see any way that a downgrade can be avoided at this point, so you'll probably see a second crash if/when the downgrade happens.

    July 26, 2011 at 6:06 pm |
  39. Bizarro

    Amazing how many people are willing to offer pointed opinions to a news reporter yet don't have their facts straight. It's apparent that a lot of people out there would be better served to shut up and listen rather than rant their flawed hypotheses.

    July 26, 2011 at 6:04 pm |
    • gkj

      Pls... ID all the flawed logic posters have. Provide specifics rather than what your post stated.

      July 26, 2011 at 7:13 pm |
  40. Mark Colegrove

    Joathan...As a democrat, I applaud your genuine concern with such an air of compromise that makes sense. I wish the republicans in Washington would act the same.

    July 26, 2011 at 6:04 pm |
  41. Kyle Schofield

    Republicans like Boehner are the direct cause of America's financial crisis! At this point in time, I see nothing but a man & a party willing to gamble with the lives of the American people in order to gain grounds for next year's election. I urge Republicans (& other officials) to STOP thinking about themselves and their PERSONAL beliefs, to COMPROMISE with our president, and to FOCUS on the needs of the American people as a WHOLE, and not only the needs of the wealthy few. (All about making the president fail!!!)

    July 26, 2011 at 6:03 pm |
  42. dscot

    If the August 3 deadline passes without a debt deal, doesn't that give Obama complete power of the purse? And wouldn't that be the equivalent (albeit temporary) of a line item budget veto, the holy grail every president has desired but none able to obtain? And couldn't Obama selectively halt federal projects in red states? If that is true, then Obama may be on the verge of a political masterstroke, with Republicans begging for compromise to get their spending back.

    July 26, 2011 at 6:03 pm |

    Wolf, Would you do a favor to yours viewers? Would you let us known with name and a picture, Who are the Representatives that are blocking the bill in the House? If we get into DEFAULT we need to know Who are the ones that didn't care oft his to happened! Thanks.

    July 26, 2011 at 6:00 pm |
  44. Minnie

    Wolf with all due do you expect to hear & understand what been said with you & your guest talking over each is very very very rude!!!!

    July 26, 2011 at 5:58 pm |
  45. Joe S. Elko, NV

    The Nazi Tea Party needs to be tarred and feathered and given a one way flight to Iran. Let them try to run that county in the ground. See what it gets them!

    July 26, 2011 at 5:57 pm |
  46. pleasecommityourselftoapsychwardblitz

    and this from the head posturer

    July 26, 2011 at 5:55 pm |
  47. Mark Colegrove

    I have never in my entire adult life been so angry at the systematic destruction of the american middle class by right wing extremists within the republican party. Since 2001 they have single handedly decimated the private sector of employment while allowing their patron wealthy to line their pockets at the expense of good old Joe blow. Now by starving the beast they have destroyed whatever jobs are left in the public sector. There will quickly become the haves and the have nots, no middle ground. This reminds me of Facisim. As the elite continued to basque in their oppulence the working class became a monolithic society although telling them "We are all Comrades". What is happening to this country at this moment will be th catalyst to class warfare. The founding fathers of this country realized that government had the responsibilty to the welfare of its' people, not just the chosen few. For you holy rolling right wingers who expouse your christian virtue, I ask you this age old question, "What Would Christ Do"

    July 26, 2011 at 5:54 pm |
    • jon

      The Republicans just want to destroy President Obama. They still cannot believe that a black man was elected!
      What a country this is. Sad.

      July 26, 2011 at 6:09 pm |
      • Shaka

        Well said Mark and Jon....exactly my sentiments!

        July 26, 2011 at 10:00 pm |
  48. DSO

    OK commenters, I get it. Those of you who see the world through Democrat-colored glasses see the current situation as ALL the Republicans fault. Those of you who see the world through Republican-colored glasses see the current situation as ALL the Democrats fault. Very few see fault on both sides. Some of you just like to call the other side names, insult their intelligence, and the like. Very helpful.

    July 26, 2011 at 5:53 pm |
    • Democrat

      You must not be informed as to how much our debt has grown since Obama has been in office and Obama Care and unfunded government pensions haven't hit the books yet. The debt has grown more since Obama has been in office than all previous Presidents combined. That's right "All Combined". Do you want to be owned by China? Think about it.

      July 26, 2011 at 6:13 pm |
    • dscot

      If by "current situation" you mean the debt limit debacle, uh, that actually is the Republicans' fault.

      July 26, 2011 at 6:13 pm |
    • DSO

      dscot, thanks for another one-sided, unsubstantiated, non-argument. Telling us all what you have concluded does not persuade.

      Democrat, you seem to have missed my point completely. I am as concerned about the debt as anyone. I'm really tired of hearing "Reagan borrowed money, Bush borrowed money, so why can't Obama borrow money" arguments, because that kind of thinking will never lead us out of debt. I just think that the right solution is way more complicated than folks commenting here seem to think. We complain that our representatives cannot compromise, but we can't seem to see more than one side of the issue ourselves. We get the government we deserve.

      July 26, 2011 at 11:16 pm |
  49. Name*DaveSmih

    Wolf ... why don't you ask your Republican guests the details of their proposed Balanced Budget Amendment? Also ask them their cap percentage? Ask them the margin of vote to make tax loophole changes? Their proposal is a SCAM.

    July 26, 2011 at 5:49 pm |
  50. Democrat

    When are people going to wise up? You can't continue to borrow .42 cents for every dollar being spent. Wise Up. We need to stop Government from spending more then they have and its not right to continue to ask for taxes on the rich when 52% of the Americans don't pay anything. That's Right $0. Shame on the Democrats for tabling CUT CAP AND BALANCE. I'm voting Rebublican in 2012 becasue the Democratic Party has become Socialist. What ever happened to JFK Democrats?

    July 26, 2011 at 5:45 pm |
    • Peter Riviera

      You're an idiot. Please stop getting brainwashed by your fascist talking heads rush and beck. They make you sound stupid...which you don't need much help with.

      July 26, 2011 at 6:04 pm |
      • Democrat

        The truth really hurts doesn't it? Too bad you don't have an argument.

        July 26, 2011 at 6:20 pm |
    • PoorGuyWhoDoesNotLiveOnEntitlements


      That is because, 52% of the americans, after paying their bills have little or nothing in their hands. They dont earn enough to have a sustainable living. While the top 1.5% earn 250k+. Just look at this article: and figure it out yourself.

      July 26, 2011 at 6:06 pm |
      • Democrat

        Oh Great, your learning from a University of California. I wonder which way they lean? I suggest you expand your learning elsewhere.

        July 26, 2011 at 6:31 pm |
      • buddha12

        Please explain to me why someone who has taken the initiative and made more money than you should be required to support someone that doesn't want to get out and earn a decent living? I don't want to hear any sob story about how they have it better than you. with all the entitlements, anyone can go to college and get an education for almost nothing, if you really are that poor, or be a man and buck up, take out a loan and get an education. Then you too can make a deccent living, and YOU can voluntarily give your money to the "needy".

        July 27, 2011 at 8:58 am |
    • jon

      At least with some form of Socialism, we get SOMETHING. Rather just getting screwed by Capitalism!

      July 26, 2011 at 6:11 pm |
      • Democrat

        Equal Opportunities not Equal Outcomes like you would like.

        July 26, 2011 at 6:25 pm |
  51. Jonathan

    Okay – I did my part to make my voice heard with the news of the continued stalemate. As a Republican, I am first to state that I disagree with a lot of what Representative Jim Jordan stands for. The only item that I can agree on is that we made our vote count for the big bold move of doing the job right. However, that right job is to protect the future of this nation without continuing individual self interest. Bottom line up front – enough with the tax increase debate and the word "compromise." Let's start thinking win-win. Continuing the risk of fiscal crises for political gains is criminal and a threat to national security. At the end of this process, our government needs to be accountable beyond losing their political position.

    To voice my opinion to my congressman (Not REP Jones, but a Republican that I still have faith in) I emailed the following with the key point that it is time to make the deal. Thinking what was best for the nation this is what I emailed (I am ready to hear complaints; however, I hope it leads us in a better direction):

    Dear Congressman,

    It's time to deal. Tell all in congress – "Country first, party second." Stop this nonsense. As a registered Republican, I am not giving up my party to the few that make up the Tea Party. I am Republican because of my strong Social/Moral views established before the Tea Party arrival and do not agree with their fiscal view of our future. This is what I believe we could do:

    – Keep some of the personal income tax cuts that former President Bush signed into law in 2001/2003, but expire for those making more than $250,000.

    – Have companies pay for carbon dioxide emissions (this is one that I have a hard time swallowing because of the effect on the economy, but if the US can tax the tobacco industry in the 70's, 80's, and 90's and still survive, then we can survive the tax we impose on those that pollute us). Furthermore, this would bring it a lot of money.

    – Talking about tobacco, tax them again!

    – End the tax deduction Congress passed in 2004 on Exxon, Chevron, BP, Shell, and ConocoPhillips (they make enough).

    – Cut discretionary spending by five percent for domestic agencies

    – "Pork Barrel" – do I need to say more?

    – Raise Medicare eligibility to 67. You are making a change that both sides would agree to. You are not cutting an entitlement, but you are adjusting for the fact that Americans are living longer. Its fact and no side can argue. Imagine what a two year increase would save you in ten years!

    – Increase Medicare costs for wealthy (earning more $80,000 single/ $160,000 couple).

    – Increase Social Security benefits for Generation X'ers born after 1968 to 70 (I'm one of them, so I feel can say this). Again, big savings without cutting an entitlement.

    – Cut military spending by no more than TEN percent (being a Naval Officer, I think that we are spread thin enough and should not be the main focus of overall cuts, but may survive if it is not more than that). Of course changes need to be made. The military acquisition process needs to be looked at. Also, why is AFRICOM at Kelley Barracks, Stuttgart, Germany and not being moved to Norfolk, VA to replace JFCOM. That is a lot of money going overseas, isn’t it? You can get to Africa much easier from Virginia than Germany – think about all the Diplomatic Clearance the military would not have to do! Plus that’s new jobs in the America and has housing allowance spend in the United States vice Germany.

    – If we are broke, why are we giving money away? Cut the government's ~$40 billion foreign aid budget in half.

    – Get rid of the 2001 No Child Left Behind Law except areas that fund special education and grants for low-income children. (NCLB Law has not improved education in the US, but if you look like your stealing from children we will lose the independent vote. Plus it's the right thing to do).

    Bottom-line, as Republicans we need to look at a situation where both sides win. Please be the leader that I envision you to be. Get out in front and stop this nonsense. Get the debt ceiling lifted and provide the cuts, in addition to the income increase needed to keep our AAA credit rating. Stop the Pennsylvania Avenue "he said, she said." Not only are you at risk of pushing us further into financial crisis and losing my vote, more importantly you are at risk of losing my respect. Please protect my family's interest as I have protected your freedom.

    July 26, 2011 at 5:45 pm |
    • David

      Well said. It is not a perfect plan, but it is more of what the American center can agree to. If both parties would concentrate on that base, we would come to a solution.

      July 26, 2011 at 6:23 pm |
    • Jeff

      As a democrat, I would support this compromise you have outlined. I find it to be more than reasonable, and I salute you for your efforts. I just wish all of our congressional leaders (from both parties) could display the sort of maturity and positive thinking you have just demonstrated.

      July 26, 2011 at 6:26 pm |
    • wahoo

      I am a lifelong liberal Democrat, and I like your ideas. If I am willing to make significant cuts to my favorite social welfare plans (none of which I have ever taken advantage of, BTW), then I think those on the right can accept raising taxes on the very wealthy and corporations making record profits and the very wealthy. Or if you want to call it "overhauling the tax system" or "closing loopholes" or any other euphemism you want, it is still increasing revenues. If you cut the programs that most benefit the poor, then also raise the costs to the rich. Everyone should be hit.

      I would also cut agricultural subsidies, put big luxury taxes on gas guzzling SUVs, and save a lot of money by closing every military base (and shift the personnel to another state) in any state that thinks we should let the coutnty go into default. I also think that capital gains should be taxed at the same rate as income.

      An aside, however... aid to foreign countries can be an investment in national security. Think of what we could have done to solidify relationship with other countries if he had spent a fraction of hte money we spent on the war in Iraq on earth quake aid to Pakistan, or investing in poore nations.

      July 26, 2011 at 6:32 pm |
    • cb

      I think I'm going to have to agree with everything you've said here. Let's hope Washington heard you. If not I feel the next election will be historic when all those who are so sure they are on the right side of this issue discover the majority of Americans agree with you.

      July 26, 2011 at 6:46 pm |
    • Ayadaddy

      $250,00o is not wealthy. Cash flow, but not wealthy. It is two college educated professionals working full time, probably in a high tax state, where they pay state income tax (highly progressive) and real estate taxes. They also pay more sales taxes, and use money to pay professionals like restaurant owners, waitresses, landscapers, plumbers, etc.
      That $ amount needs to be raised. This HENRY group is being taxed to death, with no breaks. If they want to send a child to private college (which costs taxpayers nothing) they get no tuition breaks, no subsidized loans, no tax breaks for sending themselves to school. With the AMT, they have gotten shellacked in the last 10 years. The AMT needs to go, it is unequal, especially to those who live in high tax states. Maybe that ceiling has to go to 400 or 500K.
      And in no circumstance should the lower half of the population continue to get income tax rebates greater than what they put in. That is just ludicrous, even saying it. There has to be a better balance on entitlement programs.

      July 26, 2011 at 6:51 pm |
      • Jonathan

        I never used the word "wealthy" in my proposal. However, what I can say is that I have a two postgraduate degrees. MS in Modeling and Simulation and MS in Management of Information Systems. My wife has a MS in Mathematics. We have three wonderful children. The state taxes are deducted from federal income taxes. So is our kid's 529 College Savings plan. After all the smart deductions, I fall below the $250,000 mark. Nonetheless, my wife and I are ready to go where ever we can go above that $250,000 mark. I am willing to return to the pre-2001 tax break era, if it means that interest rates stay low and this country lowers its national debt.
        Please throw away partisanship. Look up articles/reports by former US Government Accountability Office Comptroller General David Walker. We need to move beyond the self interest tax breaks argument.
        As far as your last point, I agree that you should not get out more than you put in. We just need to figure out as a country how we can put in more than we take out.

        July 26, 2011 at 7:45 pm |
    • AlisonNoelle

      I never thought I'd see the day where I would actually agree with a Republican. But here it is. Your ideas are good. It's just too dang bad that real compromise like that will never happen in Washington.

      July 26, 2011 at 7:38 pm |
  52. LouAz

    See NYTimes Editorial – How the Deficit Got This Big, Jul 23,2011.
    Bush – $5.07T, Obama – $1.44T. Source Congressional Budget Office !
    Bush did not pay for 2 wars, TARP/Stimulus, Drugs, but worst was Tax Cuts. Thanks Repubs !

    July 26, 2011 at 5:45 pm |
    • jon

      Again the Republicans lie about President Obama. They say he is spending us into oblivion. What a crock! Thanks for the actual numbers. The Republicans spent us into oblivion already over the past 10 years.

      July 26, 2011 at 6:16 pm |
  53. Chris From Rhode Island

    I voted for the McCain back in 2008 for the Republican party NOT the tea party who happen to be republicans. I do NOT trust any republican because of the Tea Party. The Tea Party AND the GOP have NOT convinced me that they care what's in the best interest of the Amarican People. After Obama won the election, McCain said that the GOP would CO-OPERATE with the president so that they can move the country forward, what's in the best interest of the american people. Instead, the republicans have shown themselves to be immature and irresponsible acting like children because they can't have their way. Obama hasn't made any positive progress because the tea party and the GOP want to be in power again and have been fighting him every step of the way and don't care who they hurt if they get in their way. I believe Obama deserves a second chance, I would rather have Obama for another 4 years than have people like Sarah palin or Michele Bachman be president. Looks like I'll be voting Democrat this in this coming election.

    July 26, 2011 at 5:43 pm |
  54. Saul R.

    Speaker Boehner, Companies Need to Come Out From Behind You, Just let the public know, who are these companies, athletes, owners, millionaires, etc... that do not want to pay higher taxes, so therefore, We (I) will not shop or support them! You need to raise tax and cut , it goes both ways. STOP THE GAMES!

    July 26, 2011 at 5:42 pm |
    • Democrat

      What about the 52% of Americans that are not paying anything?

      July 26, 2011 at 5:51 pm |
      • Peter Riviera

        Sigh. Do you just parrot your idiot repugs? Good god go learn something. Federal Income tax is just a drop in the bucket to all the other taxes people pay. Social Security isn't a tax at all and Republicans talking about cutting it should be treason. Good god you're dumb.

        July 26, 2011 at 6:06 pm |
      • Ken in CA

        That 52% who don't pay any taxes have no money to pay taxes with. It all got sucked up to the top 20%, who have 93% (or more, this number is based on 2007 data) of the net wealth (net worth minus primary home value) of the nation, with the top 1% holding 42.7%!

        July 26, 2011 at 6:24 pm |
      • AlisonNoelle

        Ok. As one of those 52% of Americans who don't pay taxes I am wondering where we are supposed to come up with that money? My husband works full time plus whatever overtime he can come up, we have rent that takes up over 50% of net income, our utilities are about 250$, phone bills, clothing food and transportation for our family takes up the rest. Plus any of those things could go up at any moment because of all the inflation. I've seen food prices go waaaay up in the last year and I am a smart coupon clipping shopper who tries not to pay full price on anything. We rarely eat out, I try to grow our own produce but live in a pretty rainy climate so that is pretty hit or miss depending on the weather. Now tell me. Where are we supposed to come up with the money for taxes? We pay sales tax on all goods that we buy, we pay taxes on the gas for our car, taxes on our phone and utilities bills. Plus we do this with NO help from any welfare programs. Before you go on and on saying how all these people don't pay taxes just remember that most of us who don't work damned hard for what little we do have. We build your houses, take your orders, teach your children and all manner of other things for a pittance.

        July 26, 2011 at 8:05 pm |
  55. david

    i dont know the big deal is about the deficit is. it will be passed at the very last minute. it will be proposed by a democrat, the republicans will never get anything by the president because, surprise he is a democrat. obama will be the next president, the democrats will control the house and senate, and "WE THE PEOPLE" will be screwed and we will be dealing with this again in the near future.

    July 26, 2011 at 5:42 pm |
  56. bob

    So this is what presenting the news looks like. You have a spokesman from the White House whom you listen to asking obviously leading questions (otherwise known as softball). Then you have Representative from the House and you spend 5 minutes or so arguing with him. This is not presenting news and information but rather promoting a cause. One has to go to Fox to hear both sides of the argument. You are doing the people of this nation a great disservice in not emphasizing that the repeated raising the debt ceiling with our debate is exactly the cause of our current fiscal situation. The truth is that even if we raised the debt ceiling as the President wants we will still lose our credit rating. People just do not believe that we can show the discipline to curtail the spending of money or revenue we do not have. Further this business of increasing the taxes on the rich as a solution is a red herring–If we taxed them 100% (confiscated all their income) it would not put a significant dent in our long term debt. START TELLING THE TRUTH!

    July 26, 2011 at 5:41 pm |
    • Bizarro

      I stopped reading when I saw the line "You have to go to Fox to get the truth"...

      July 26, 2011 at 5:58 pm |
      • Sandra

        I also quit reading when he said he had to go to FOX to get the truth. Truth is not something they understand. It's all about making money and having power. Truth doesn't have anything to do with their business model.

        July 26, 2011 at 6:28 pm |
  57. Don Hurley

    "All of that could push the U.S. economy into another Great Recession"...

    DEPRESSION with a capital D.
    And b.t.w. Wolf, we're still in the "Great Recession".
    You might wanna get your facts straight.

    July 26, 2011 at 5:41 pm |
  58. jdoe

    If the U.S. defaults, there WILL be pain, no doubt about it. Its credit rating will most certainly be downgraded, leading to more debt for everyone must pay, and higher interest rates that is costly to individuals and businesses, leading to more layoffs.

    The stock market will drop significantly, costing people their savings and 401K. And if the government must delay payments to SS recipients, medical providers, employees, etc., there will be more financial hardship, delayed treatments, and more layoffs.

    More countries will lose trust in the dollar and shift to other currencies, causing it to lose value even more. There will be less foreign investment in the U.S. resulting in even les growth.

    Other than that, the Tea Party thinks it's no big deal.

    July 26, 2011 at 5:41 pm |
  59. Tony

    I have voted Republican. I think it was right to bring Saddem down, unfortunately we entered into that conflict undr false pretense.
    But I am at a loss to see why our elected officials feel, that allowing what appears to be huge huge tax benefits to large corporations is responsible. My understanding is the the big oil organizations made 32 billion last quarter and that they got a net result 4 billion in tax breaks. I don't begrudge them a single dollar of it. But I do believe they don't 'need' 4 billion in tax breaks. I understand a couple of other organizations wound up paying 0 in taxes. I'm sure they legally took their tax dollars and determined how apply them in such a fashion, that they effectively didn't have more tax to pay.
    It appears they, large cap organizations have weathered the recession, reasonably well.
    I am unhappy to hear them say, if we take away some/all tax breaks Americans will lose jobs. It seems there is plenty almost absurd amounts of profit being made by some of these companies. It doesn't appear there is any reason to believe American jobs should be in jepordy with that much profit being generated.
    I come from a family where my parents depend on Social Security and Medicare. They are at an age where they can't just come up with the extra cash to make the ends meet. And I'm sure they will if need be.
    But putting the burden on them and not asking the real profit makers to step up seems pretty unreasonable to me.
    I believe President Obama's plan appears to be the more reasonable way to handle the situation.
    But understand I don't begrudge the Oil companies and whoever their profit. They just don't appear to absolutely need my tax dollar in order to survive.

    July 26, 2011 at 5:39 pm |
  60. Sal Voce

    Reid and O'Bummer need to get off thier spend crazy butts and CUT SPENDING!!! I can't glive beyond my means, neither can they! It's time to CUT SPENDING...CUT FOREIGN AID...CUT SPENDING...CUT PORK...CUT O'BUMMER CARE!

    July 26, 2011 at 5:39 pm |
    • Sandra

      You really are an idiot!

      July 26, 2011 at 6:29 pm |
  61. Chris

    it's apparent the rethugs will do anything to try to no longer be under a black POTUS, even destroy the country. the fact their trickle down economics NEVER worked but they continue to work for their rich masters rather than the american people is proof enough for me to boot them for all time. the south was wrong about slavery, the civil war and now the debt ceiling. it's apparent they are just as stubborn as they are ignorant...

    July 26, 2011 at 5:38 pm |
  62. doreyme

    It seems most times when Republicans are asked questions by CNN reporters, they give little mini memorized speeches...they rarely answer the questions asked + yet CNN reporters don't call them on it. It gets very tedious to hear the Republican spiel over + over again. Please, being "fair" is one thing but bending over backwards is quite another.

    July 26, 2011 at 5:37 pm |
    • Captain Les

      You said it right. We elect a Democratic President to run the country and the republicans still running roadblocks. They need to stop tying his hands and let him do his job! Hope everyone remembers these idiot republican rep's on election day!!!!

      July 26, 2011 at 5:48 pm |
  63. Julie

    I I agree Wolf, I'm worried too. I'm worried for my country and most of all I'm worried for my husband. He is 59, works hard in a very hot steel mill, this heat wave. He works 12 hour days and barely makes 40k a year. We do our best to follow the rules, pay the bills, we have our 401k that holds all of our hopes for his retirement.

    Now because politics are more important than country my husband's 401k , small as it is, can take a huge hit and his hopes of retiring in the next few years is vanishing. Sad thing is, we are still the fortunate ones. Senior citizens losing social security checks, medicaid, Vets losing their incomes, governmental agencies closing....

    All of this over Red vs Blue? I am a Democrat, but frankly that doesn't matter. I am an American woman and as a Mother and Grandmother all I can think of is many years ago when my children would fight. I find myself once again wanting to tell Congress and the President what I told my children back then:

    Stop the fighting before someone gets hurt! You are family, act like it!

    We all are family. Raising taxes, bolstering revenue, cut cap and balance is all a lot of sound and fury signifying nothing if we dont fix this situation fast. Politicians need to remember, we are ALL Americans first and knock it off.

    July 26, 2011 at 5:31 pm |
  64. Mike Davis

    We're a Nation of procrastinators, so I guess we shouldn't be surprised that our elected officials can't make important decisions until the last possible minute. Our political parties do us all a disservice by whipping their members into a mindless frenzy of name calling and intractability. Five people of good will could solve this in 2 hours by actually compromising with each other and leaving the politics and emotions out of the room. What a shame!

    July 26, 2011 at 5:31 pm |
  65. Laura Fait

    The MAJORITY of Americans are sick and tired of political grand standing by a bunch of ego stroking politicians who seem to think that if they throw enough BS at us we'll finally have no choice but to choke it down?

    The MAJORITY of Americans have already said they want a compromise to this situation and they want it now!
    While republicans pretend to make "tough choices" to ensure that their children and their children's children wont bear the brunt of such financial doom and despair? Yet aren't we those children and those children's children that politicans tried to scare our parents and grandparents into believing were doomed? Yea, that's what I thought.

    Future politicians should take an FYI on this one. That scare tactic has really run it's course. The only thing running our children and their children's children into financial ruin are those who hold political office and accept gifts, funds, etc from lobbyists who represent corporations with agendas. Votes are bought and sold to the highest bidders, to the tune of $900 BILLION dollars spent last year alone. Guess what lobbyists or "special interest groups" spent a huge chunk of that money? HEALTH INSURANCE CORPORATIONS, AND Health related lobbyists who used media outlets to drive their brainwashing message against OBAMACARE. Take a look at the list of politicians that head all different kinds of committees. Then compare those committees to the list of lobbyists who have a direct interest in how that committee votes on issues. Now look at the public record of campaign contributions, gifts, trips, perks (all nice ways of saying BRIBE) are given to those members on those commitees. Crazy how he top contributors are also the top brass of these corporations who stand to lose billions of dollars they've come accustom to living on. YOUR money. MY money. The high cost of medical care isn't driven by anything more than greed coming from the that elite group who aren't ready to give it up without a fight. Regardless if the American people are the ones who lose. Now don't be a sore loser Americans! The rules of the game are there. Someone has to be the loser so suck it up. Oh wait! I forgot to mention that you weren't asked to play the game or if you wanted to play the game. All Americans get an automatic game play. These corporations are willing to spend billions of dollars in order to lie to the American people, and mislead us into thinking their way. Just business as usual conducted Washington D.C. style.

    The MAJORITY of Americans don't give a rats a$$ about what political party is pulling the puppet strings any more, because the puppets are no longer willing to play?

    Republicans cannot allow the American people to think Obama has TRIED to do ANYTHING that's turned our economy from near fatal condition, to seeing a little light at the end of the tunnel. A disaster of historic proportions handed off by Pres. Bush and the republicans who held office during that time. Sadly, I was one of the ignorant republicans who did buy into the rhetoric. Of course this was a time of internet infantcy and accountability by politicians wasn't available like it is today. A time when media mouguls knew they could say and print what ever their agenda called for. You gotta admit, on some level it was brilliant, if not anything! A well oiled machine that was carefully maintained by a select handful of people. These media mouguls knew that the only way to reach the majority of people was via newspapers, telegraph, postal, television, telephone. As technology advanced so did the media's ability to manipulate the publics viewpoint. By the time the news actually gets to the people, it's been carefully prepared to either do the most damage or the most good for who ever the media source chose to target that day-week-month-year. Hard for Americans to know what the majority of other Americans were really thinking and feeling when you were basing that on what was printed or being put on tv. Ignorance seemed to be bliss
    and abundant back then, didn't it? Some said the internet was a fad. Luckily devine intervention made sure it was here to stay. The slow beginning to an end of media manipulation. Looks like Murdoch has been asked to appear before the highest court in the land.... KARMA. (funny, I always smile just thinking about that).

    You would think that common sense alone would be enough for us to not go down a dead end road and actually expect to find a different way out. The only way out is traveling all the way back down that road and making a differnt choice. Yet time and time again we walk it. Then back out. A little more tired and frustrated than the times before. By the way, the cars whizzing by you as you walk up and down that dead end road are driven by the politicians YOU voted into office. They can't stop and give you a ride because there's no room for you until election year. You'll have to be satisified with a parade wave, and a pearly white smile until then. Count me out. I've done my time on that road. I have nothing left to lose by choosing a different road. Clowns to the left of me, jokers to the right. A fork in the road, and one way is a dead end. Anybody else wanna see where that other path leads? (it's never about the destination, it's about the journey) My choice. I'm ok with that.

    Polls mean ZERO. They're subjective, and grasp less than a fraction of the general populations actual opinion. Polls are clever ways to plant seeds of doubt and hope they'll grow. The more people believe in what the polls are saying, the more swayed some people become in believing something that really isn't fact. And thats what politicians and special interest groups are banking on. 100 million Americans (approx) voted during the presidential election. A poll taken of 100,00 Americans does not mean it speaks for the majority of Americans. It means 100,000 Americans participated in poll. BIG DEAL. Americans need to hold ALL elected officials accountable. Winning the election should NOT guarantee 2, 4, 6, 8 years in office. Every year they need to be re-evaluated for job performance and fufilling campaign promises that got them elected. Imagine being able to say, "I'm sorry but fingerpointing and blame games are not enough for us to keep you around, you're fired."

    Lets remember who's country this is, and who really holds the power. Eventually enough of us will be sick and tired
    of being sick and tired and demand performance over double talk.

    July 26, 2011 at 5:30 pm |
    • gkj

      Agreed! Polls stink! I've declined ton's of polls due to the pollster's attitude, time of day contacted and general questions used for what the poll was for. I do not believe in any poll unless I see the Questions, how many people responded versus how many declined and method of contact. After that, I'll make a decision. Who thought 'polls' were actually scientific in this day and age and could be used by the media as truth?

      July 26, 2011 at 7:25 pm |
  66. Dolores Ward

    I have been writing to any that I can get in touch with, that hasn't shut their website down to avoid negative email.
    this is what I have been sending:COMPROMISE: An agreement of a dispute that is reached by EACH SIDE Making concessions.

    Just thought that this word had gotten lost somewhere in the discussions on the debt ceiling. I know that we need deficit cuts, I also know that we need taxes to run this country. I am certainly not in the $250,000 wage bracket but as a citizen, would be willing to pay a little more taxes to help this country. I believe ALL good Americans would be. Obama was not my choice in the last election but I do know that HE IS NOT THE PROBLEM HERE. The problem is the unwillingness for the parties to work together for the GOOD OF THE COUNTRY. The Democrats can not always give 100% and the Republicans demanding 110%. This needs some give and take and I don't mean the Democrats giving and the Republicans taking. Please read the definition of the word COMPROMISE and try to include this in your negotiations

    July 26, 2011 at 5:29 pm |
  67. BretCokie

    $3 Trillion in State/Local Debt. What do the Republicans think happens when States and Localities issues bonds?
    $16 Trillion in Personal Debt. Seriously, how many people pay cash for their house, or even their car?
    Ask the Republicans how States, Localities and families accumulated that $19 Trillion in debt if they are living within their means.
    There is an easy solution, vote to raise the debt ceiling.
    Maybe everyone in Congress can sign another pledge, a pledge to keep the country from defaulting on our debt. That should satisfy everyone holding US debt.

    July 26, 2011 at 5:28 pm |
  68. Dolores Ward

    I have sent email to the AVAILABLE REPUBLICANS, The ones who have not shut their website down because of not wanting ot get negative mail. This is what I have been sending. The definition of the word COMPROMISE:

    COMPROMISE: An agreement of a dispute that is reached by EACH SIDE Making concessions.

    Just thought that this word had gotten lost somewhere in the discussions on the debt ceiling. I know that we need deficit cuts, I also know that we need taxes to run this country. I am certainly not in the $250,000 wage bracket but as a citizen, would be willing to pay a little more taxes to help this country. I believe ALL good Americans would be. Obama was not my choice in the last election but I do know that HE IS NOT THE PROBLEM HERE. The problem is the unwillingness for the parties to work together for the GOOD OF THE COUNTRY. The Democrats can not always give 100% and the Republicans demanding 110%. This needs some give and take and I don't mean the Democrats giving and the Republicans taking. Please read the definition of the word COMPROMISE and try to include this in your negotiations

    July 26, 2011 at 5:28 pm |
  69. Albert Parmar

    Wolf Blitzer,

    Republicans in the House, it is ok for them to tax Senior people with their Social Security Benefit,and Medicare Benefit, but no taxes for Big Oil companies, and Corporate giants. Let them come home I will make sure that in my area none of this senior vote for Joe Wilson liar.

    July 26, 2011 at 5:27 pm |
  70. Why did Cantor short T-bills

    Last year the Wall Street Journal reported that Cantor, the No. 2 Republican in the House, had between $1,000 and $15,000 invested in ProShares Trust Ultrashort 20+ Year Treasury EFT. The fund aggressively "shorts" long-term U.S. Treasury bonds, meaning that it performs well when U.S. debt is undesirable. (A short is when the trader hopes to profit from the decline in the value of an asset.)
    According to his latest financial disclosure statement, which covers the year 2010 and has been publicly available since this spring, Cantor still has up to $15,000 in the same fund. Contacted by Salon this week, Cantor's office gave no indication that the Virginia Republican, who has played a leading role in the debt ceiling negotiations, has divested himself of these holdings since his last filing. Unless an agreement can be reached, the U.S. could begin defaulting on its debt payments on Aug. 2. If that happens and Cantor is still invested in the fund, the value of his holdings would skyrocket.

    July 26, 2011 at 5:26 pm |
    • Jay G

      lol – you seriously think having $15k in a fund that, as part of its strategy, shorts T-bills, means the Senator has a reason to screw over the US economy? Wow. Just wow. $15k might seem like a lot to you, but I doubt it's much of a concern to him. Now if you'd said he had $5M in that fund and the fund was predominantly based on that, sure, there might be some conflict of interest. But your point doesn't even raise a specter of conflict.

      July 26, 2011 at 6:46 pm |
  71. dangerboyandpixie

    Wolf –

    What I see out here in the Asia-Pacific region is a world watching. Complacency of US media and investors hoping this turns out for the best (as if this was a Hollywood movie) is a fatal flaw. The collapse of the American automobile industry was similar in that executive management simply did not believe they would fail. There's no one to bail us out if we trip – and many countries actively hoping theirs is the one which becomes the financial center of the world.

    I fear the damage has been done – irrespective of outcome.

    July 26, 2011 at 5:26 pm |
  72. Voltairine

    lol Really?! You finally got it now Wolf? "Welcome to the party pal!" Or do you just want your name out there as yet another "reporter" with a gift for the galactically obvious while disregarding the fact that IT IS THE GOP THAT REFUSES TO NEGOTIATE! I'd rather there be a compromise, but if the Republicans continue to refuse FINE; them, along with their masters, big business and big money, will all be shedding their expensive suits like the SS did with their uniforms back in April/May of 1945.

    July 26, 2011 at 5:24 pm |
  73. Pat

    The real and only issue here is the election in 2012. The Dems want the agreement (debt limit) to go to 2013 ensuring it won't be an election issue and the Reps want the agreement to go to early 2012 where it will be an election issue. That's really it in a nutshell. This is where the heels are dug in. All the rest is just obfuscation. This is what you, WOLF, and the rest of the news media should be focusing on. If this form of electoral blackmail were really publicized, the public would rise up in a heartbeat.

    July 26, 2011 at 5:21 pm |
  74. Tessa

    I did the research and the deficit we are discussing began increasing Under President Reagan, continued with Senior Pres. Bush, the budget was then balanced under Clinton and significantly rose under President George W. Bush. So why now are the Republican's drawing a line in the sand stating they are all born again fiscal conservatives? Simply because they can. I am convinced that no matter what President Obama agrees to do, they will refuse. We as a country have already spent the money, and we have to pay it back...this has more to do with the past than the future. Sadly, who gets hurt in all of, me and the entire country. This is political posturing beyond belief. I am more determined than ever to support the Democrats, especially President Obama in the upcoming elections. Enough already!

    July 26, 2011 at 5:21 pm |
  75. Nora Keefe

    Interesting that the person appearing on Wolf's program to discuss the debt ceiling is the head of Obama's campaign. He kept sayin "the American people want". I'm an American citizen and I don't want what he wants. I do want substantial cuts that are itemized so we know exactly what they are. Harry's plan does not list any. He says they will come from the down turn of the wars and things that we don't know will really happen. He wants another blank check from those of us who actually pay taxes. Instead, he wants to be able to spend, spend, spend. Too bad he didn't get defeated in the last election.

    July 26, 2011 at 5:19 pm |
  76. sam

    Memo to Wolfie – we are STILL in the great recession. Maybe not big time media people, celebrities, politicians, athletes, etc, but the rest of the country is.

    July 26, 2011 at 5:17 pm |
  77. Stephen

    Wolf, watching you interview David Plouffe now. Spin, spin, spin. He cannot even answer your questions withoug spinning his answers. Perfect example of why the American People he constantly refers to are so frustrated. The White House doesn't want a short term deal for one reason, and one reason only – it is an election year – period. Reeds plan has no meat in it. Claiming over a 1T due to winding down two wars? A perfect example of the problem. Where is Obama's budget? Why can't you get any of your White House guests to simply answer that question? It is a simple question. At least the republicans have shown us one whether we like it or not.

    July 26, 2011 at 5:15 pm |
    • Name*DaveSmih

      War cuts ... same method of cutting the deficit that Ryan used. Republicans can use, but the Democrats cannot? It's OK for one, not for the other? Sort of like speaking out of both sides.

      July 26, 2011 at 6:05 pm |
      • Stephen

        I disagree with Ryan using those numbers as well. Whoever uses it as a way to "cut" spending is wrong. That is not a spending cut, It is like you or I saying that we are going to wait until our car no longer needs comprehensive insurance as a means for cutting our household budgets. Again, my main point was about the election. Today another W.H. official was interviewed by Wolf who kept rambling on about how reviewing this issue next yea is not good for the economy. The problem is, if there is no "hook" in whatever passes, when it comes to next year, no one is going to do anything but keep spending.

        July 28, 2011 at 5:15 pm |
  78. Brian

    Blitzer does have a point. Congress reminds me of professional wrestling. The wrestlers scream at each other in the ring – and then go to a bar and buy each other drinks after the match. Congressmen bury each other with finesse outside of Congress. The word "charade" comes to mind.

    July 26, 2011 at 5:14 pm |
  79. Kelce

    Posturing and finger pointing. The special address last night felt more like an election with all the finger pointing and mud slinging. The polarization that followed President Obama from the election has completely fractured the Whitehouse and exposed a huge problem with the two party system. We're set up to clash and will always be a divided nation as long as the two party system exists.

    Is this all Obama's fault? Absolutely not. We have been spiraling since Bush was in office. Sometimes we catch wind and float but for the most part it's been a downward trend. Is he blameless? I don't think so. I voted for Obama and like many things he does but hated his speech last night. I'd rather the speech from both parties to have been "We are having trouble agreeing but we're still working on it" instead of it being a grand stand to trash the opposing party.

    We'll see what happens. In the meantime the citizens of America are along for the ride as the children play.

    July 26, 2011 at 5:12 pm |
  80. Pat J Diaz

    What is the real purpose for the Senate or the House to passing bills? Seems to be a waste of time. There has to be an agreement first of the general main content. Without it, that bill is doomed. Do not waste time writing too much. Use time wiser to find agreement first

    July 26, 2011 at 5:06 pm |
  81. Dede

    Wolf, you guys aren't doing your job. You keep talking about compromise, but I've not heard one point that Republicans are willing to compromise, no closing of tax loopholes, no willing to raise taxes on the rich $1 so how do you expect anything to change when one of the parties is not willing to do one thing differently. I've heard the President say what he's willing to put on the table, even though I don't agree with him. How can we get anything done in Washington when a group of people say our position is the only position, we will not compromise. We are willing to destroy our economy rather than give up our position.

    July 26, 2011 at 4:56 pm |
    • San

      You are right. That party would drive us all straight into the ground to:
      1. Protect the wealthy from paying a cent more tax
      2. Make the President look like a failure

      We are all just collateral damage.

      July 26, 2011 at 5:19 pm |
    • Joe

      Hey Dede it's always easy to say, "let's take more from my rich pal" you're full of good ideas! I have a better idea, why don't we take more of YOUR money? Oh what's wrong.....doesn't feel so good when someone wants to reach into your pocket for more? Here's the truth...not one one of us would operate our personal finances the way that Washington is running the U.S. finances. BOTH parties have been guilty of overspending for years. I'm tired of the finger pointing....let's face it, both parties need to face the fact that we're broke. One thing is for sure, when you're broke, you have to spend less. When your credit card is maxed out, you don't yell at the credit card company and say "I need you to raise my limit" cut your spending!!!! Come on folks, this isn't that hard. Unless YOU and I mean YOU want higher taxes on YOUR income, please don't ask your neighbor to give more than either.

      July 26, 2011 at 5:47 pm |
  82. Robert Stroney

    I'm following Wolf Blitzer's BLOG on CNN -

    July 26, 2011 at 4:54 pm |
  83. Robert Stroney

    I think we need to re-think who we "elect" and who should be "hired" for a Government position. I think the Republican Party needs attitude – adjustment since they are the Party that got us into this terrible MESS! They continue to drag us through their stupidity; feel good? Next time you decide to vote, there is only one answer: VOTE DEMOCRAT because Republicans screw up everything. The only thing Republicans know how to do is create wars and then have zero plan of exit.

    July 26, 2011 at 4:51 pm |
    • TRH

      If the two parties, Democrat and Republican are going to cling to ideological views and refuse to doesn't matter WHICH ideology I agree with. I'd refuse to vote for either.

      We've reached a point in time where the two parties primary purpose for existing is just to oppose the other. Until that changes we will continue to suffer as a country.

      Hamilton and Jefferson disagreed PLENTY, about really fundamental issues. But they managed to shape and sculpt this country.

      It's clear we have no Hamiltons or Jeffersons in congress today. Pathetic bunch of losers, every one. Too obsessed with their childish "my way or no way" thinking. And those are just the ones who aren't racked with scandal for adultery, fraud, and a list of other crimes and unethical behaviours.


      July 26, 2011 at 5:35 pm |
  84. Mike Roberts

    Clearly Mr. Speaker Boehner is not satisfied with just being "Speaker of the House". It seems to me that he is trying to be a super hero figure that saves America from a complete financial collapse, while proving to the President to be powerless. Perhaps there's an underpining of the private golf events, and this is more of a "get even" personal crusade? I see this man's ego has been allowed to run wild. His continuous tearful emotions seems to be a sign of insecurity and the need to prove to everyone that he a better man than the one he see in the mirror each day. Lets print some more money and take the time to do it right. Now is not the time to fix everything....1 out of 5 men are out of work!

    July 26, 2011 at 4:40 pm |
    • San

      Agree with every last word.

      July 26, 2011 at 5:20 pm |
  85. Pat J Diaz

    14th Amendment of the US Constitution
    Some have argued that the President could unilaterally raise the debt limit. I believe the Constitution places that power on Congress and, therefore, if Congress fails to exercise this power and raise the debt limit, it will put itself outside the Constitution
    It is clear that Section 4 of the Amendment considers unconstitutional that the US Government could default (Section 4) but also says: “Section 5. The Congress shall have power to enforce, by appropriate legislation, the provisions of this article”
    Raising the debt limit is a subject of the Constitution. Therefore, it is an issue on itself, not tied to other issues such as taxes or expenditures. The fact that raising the debt limit has been tied to those issues is therefore unconstitutional and failing to act on this issue is also an unconstitutional act on Congress
    Should the Government take Congress to court for the violation of the Constitution or should it take to court those that are voting against raising the debt limit?

    July 26, 2011 at 4:33 pm |
  86. Ken

    Check out this report.

    July 26, 2011 at 4:28 pm |
    • Malcolm Crawford

      Yes, the loss of U.S. credit worthiness is another sign we're living in tired times. I think Paul Freedman said it best on a BBC documentary, "The Chinese are Coming": Freedman was interviewed and referred to the U.S. political system as 'stagnating'. This stagnation is clearly identifiable as political paralysis in the government. I hope there is a settlement for no country in the world has been such a blessing to other nations. My little home town in Ontario owes its existence to General Electric, Quaker Oats, and, once-upon-a-time, Outboard Marine. This, along with our Carnegie Library, made a community prosper and flourish. Now, the sunset seems to be setting on a golden age. The U.S. is getting down in foreign wars, government gridlock and internal fiscal mismangement and corruption. I hope it is able to revive its fortunes and its marvelous legacy. As recently as 2000, America's GDP actually approached half of the world's GDP. Now it is only one-quarter. No nation has done more to help other countries and contribute to global economic growth. But now, its future hangs in the balance. Every week is a crisis, it seems.

      July 26, 2011 at 5:19 pm |
  87. Jim Laietta

    Wolf seems the word of the day is "compromise". Where was compromise when the dem's in the house jammed the healthcare reform bill down our throat. The system doesn't work any longer... we need something new.

    July 26, 2011 at 4:20 pm |
    • chris

      It was called the public option, and the dems killed it, in order to compromise with the Repubs. Remember?

      July 26, 2011 at 5:08 pm |
    • James

      Sometimes things need to be jammed down our throats; like seatbelts, auto insurance, and healthcare. The people that oppose Obamacare are only thinking about themselves without regard for the masses. Maybe you have healthcare and maybe it works well for you but what about the people that don't have it and can't afford it? This type of selfish and reckless disregard for what's right is exactly what's happening regarding the debt ceiling. A few are making decisions that suit themselves and justify it by trying to convince people that it's what everybody wants or don't want. Use common sense and good judgment and stop being influenced by haters, race baiters and the like.

      July 26, 2011 at 5:13 pm |
      • Joe

        Hey're correct...I was thinking of myself and MY family. I prefer to pay MY bills and why don't you pay YOUR bills??? Hmmmmmm? ObamaCare is nothing more than redistribution of does nothing to lower the cost of healthcare. All it does is gives more free hand-outs to those of you blogging about raising the taxes on someone else. Hmmmmmm Jimmy Boy? Not so easy when you have to spend your money is it?

        July 26, 2011 at 5:52 pm |
      • Me

        James, you have so much to learn. How naive can you be? Each time something is jammed down your throat you lose your freedom. Every dollar of taxes the gov't takes from you, you lose your freedom. Please explain to me why with the level of gov't waste we have why we need to raise the debt ceiling? There is so much pork to cut, there is no need to raise taxes or the debt ceiling. Obama has grown gov't 30% since he's been in office. He's spent over $2 trillion dollars since he's been in office (nobody else has come close). If he wasn't wreckless with our money, there would be no need to raise the debt ceiling. Our debt payments were 40% of our national GDP before he came into office, now it's 70% (to be fair, some of this is due to our failing economy). What else do you need to figure out that he's been beyond wreckless with our money. The fact that he can look you in the eye and ask you for more of your money makes me wonder if he has any idea how broken our country is and how defeated our population feels? Can you not see that this entire administration WANTS TO BREAK OUR COUNTRY'S ECONOMY. There is no other logical explanation. The powers that be want America to fall so it can fall in line just like Europe. How can anyone at the helm not see that our country is broke and spending more money (which is why he wants the tax increase) will do nothing more than what has already been done with quantitative easing 1 and 2... put us further in debt and keep job unemployment high. There is no history that proves gov't can spend its way out of a recession. Gov't can't create wealth or value, it can only take from one set of people and redistribute it another set of people... no value is created. Private industry and entrepreneural endevors create wealth, prosperity, and economic expansion (ask any economist... except a kinsean who have no proof for their wreckless theories... and I stress theories). Get gov't off of people's back and watch our country become great again. Keep gov't in the loop and watch it die an ugly death. It's happened this way throughout history. If you don't believe me, just check our own history. Our country has accomplished more within the last 200 years than all other countries combined. As we become a more federally controlled country, we have less freedom and more economic problems. Nobody argues about entitlements 100 years ago, and yet everyone got along just fine... hell, better. People provided for themselves and didn't rely on the gov't for a handout... at any age. Freedom requires risk, but the rewards are so much greater than the perpetual servitude levied by an overbearing gov't.

        So again James, I ask you, why raise taxes when they're literally spending your money like drunken sailors. And again I ask you, how naive can you be? Wake up and take a look around you... you've been had and what's worse, you're actually helping them screw you on a daily basis. FOR OUR COUNTRY'S SAKE, PLEASE OPEN YOUR EYES AND WAKE UP. TELL YOUR FRIENDS TOO!

        July 26, 2011 at 6:06 pm |
      • Me

        I forgot to address your question: "Maybe you have healthcare and maybe it works well for you but what about the people that don't have it and can't afford it?"

        The people who can't afford it in the land of opportunity clearly:
        a) Can't take care of themselves due to a handicap or some other overwhelming limitation.
        – Society has an obligation to take care of these people... nobody disputes this.
        b) Didn't do their part by educating themselves and working hard to achieve success.
        – Society has no obligation to take care of these people... it's been their life's choice by not doing their part.

        Yes, I said it, they CHOOSE to be where they are. Each of us do it every day. I'm not saying that people don't fall on hard times and bad luck, sure they do, but successful people pick themselves up, brush themself off, and get right back at it. Quitters blame others for their problems and expect someone else to take care of them. THIS IS THE PROBLEM. THESE ARE THE PEOPLE YOU'RE WORRIED ABOUT HAVING HEALTHCARE. Clearly, society isn't responsible for these people. They need to do what everyone else does, take responsibility for their actions/failure, get up, brush themselves off, and get back at it.

        I wasn't born with a silver spoon in my mouth, and yes, I've made bad decisions, but it's through trial and error, family, friends, and self reliance that I've achieved what I've achieved in life. Some people choose to do it, others choose to blame everyone else but themselves. This is human nature and the only cure for it is to suffer enough to figure it out. Everyone has gone through this, some CHOOSE not to learn the lesson. Some know better, but are too lazy to do anything about it because of the safety nets available to them. This is actually harmful to them.

        Private healthcare instead of socialized healthcare is not a selfish choice, but instead it's necessary. If you keep softening the blow, they will stay addicted to the handouts/entitlements. If you make it a hard reality, they will learn. Again, human nature (actually, PSYCH 101). Now that I think about it, the people who are receiving free healthcare via Obamacare are actually the selfish ones (remember, they choose not to do their part and take responsibility for themselves).

        Benefits of private healthcare:
        a) Profit driven,
        b) More cost efficient,
        c) Profits are reinvested to create new technology and therapies,
        d) Choice of company,
        e) Private companies can be sued if you receive poor care (THIS IS HUGE, you can't sue the gov't).

        Detriments of public healthcare:
        a) No incentive to reduce cost,
        b) Gov't waste (I defy you to show me one gov't program that's run efficiently).
        c) Denied care and there's NOTHING YOU CAN DO ABOUT IT.
        e) Bereaucrats dictate what treatment you get and it's always political and financially based, not what's right.

        There's no easy answer for healthcare, but I can assue you, gov't healthcare isn't the answer. I think the real answer lies somewhere in between, but most definitely lobbyists should be banished from the equation.

        Lastly, NOBODY HAD HEALTHCARE 100 years ago, why all of a sudden is it necessary for everyone to have it? Where did this notion come from... oh, yeah, from the Healthcare Companies.

        Give me a break!

        July 26, 2011 at 6:49 pm |
    • Jeff

      Certainly there was compromise involved. The "cornhusker kickback" was a great example of this, which was soundly derided by pundits everywhere. I also seem to remember the Senate leaders scrambling to get Republicans on board, with seemingly endless talks with Susan Collins and Olympia Snowe, and an open invitation to anyone else who would jump on board.

      The sad thing is, if John Bohener and the house GOP leaders would have said, "hey, we can give you 150 votes IF you consider adding the following things and remove these others", it probably would have happened. But this was not the GOP's strategy. You have to have two sides willing to negotiate in order to strike a deal, and quite simply, the GOP strategy between 2008 and 2010 was to simply dig their heels in and scream "no" to everything. As a result, the Dems had to make compromises with the fringe wing of their own party instead, resulting in a bill that was further to the left than many of us would have liked.

      Very much like the debt ceiling crisis, the health care debachle was also "manufactured" by the GOP, in the respect that they refused to do anything that could possibly paint the president in a good light. And so, as a result, we have the current health care bill. Quite simply, the only people the GOP have to blame for the contents of the health care legislation is themselves. It could have been different, but they CHOSE not to participate. I would have thought they would have learned something after such an experience. Apparently not...

      July 26, 2011 at 5:15 pm |
    • Jesse from KC

      You'd better believe there was compromise for that. It's not government sponsored socialized health care like Obama (and many of us who voted for him) wanted.

      The problem is that there WAS compromise. The Democrats should have just pushed it through when they had control of congress and the presidency instead of trying to please those who didn't even vote for them. Now no one is happy.

      July 26, 2011 at 5:23 pm |
    • Brian

      The health care bill that passed was a rather dramatic compromise from what most Democrats wanted to see. This type of mentality is precisely the same as that in Congress – no amount of compromise is acceptable to the Tea Party.

      July 26, 2011 at 5:26 pm |
  88. Mike Montague

    Lets pretend for a moment that the US economy is a living organism. Right now the appointed physicians are locked in the next room bickering over whether the patient needs more food or a good enema. What the good doctors are failing to acknowledge is that more than 90% of the blood ($$) has been removed and is no longer circulating through the body, it has been hoarded away by the top 1% and the patient is going to die without some serious tax reform to bring some of it back into circulation.

    July 26, 2011 at 4:19 pm |
    • Rich


      Any blood your patient gets will not come from the top one percent. It will be passed down to the donors the middle class and the poor. The wealthy do not pay tax they pass that tax down so any tax increase will effect the middle class and the poor.

      Our government has gotten out of control. It's budget now exceeds what it takes in. The key is to cut the spending not tax more. Right now people can not afford more taxes. They can barely afford the high price of gas for their cars to get to work if they are fortunate enough to have jobs. Those with out jobs are hanging by a thread on what the government gives them. The key is jobs and without jobs America is on a graveyard spiral to ruin.

      July 26, 2011 at 5:15 pm |
  89. Pastor Dennis

    I believe that the Dems should strike a deal, $2 trillion over 10 years, but add tax reform and the regulation of health ins premiums to this bill. The latter, will decrease our debt considerably over the next ten years! And, make sure to roll back health ins premiums to 2005 levels. Pastor Dennis 7/26/2011

    July 26, 2011 at 4:16 pm |
  90. Lisa Bates

    A bunch of us around the country are asking the ACLU to file against our representatives who have signed the Tax Pledge for violating their oaths of office. I am trying to get the story out so that hopefully it will make the Pledge signers think, even if the ACLU does not agree to take the case. I am hopeful that they will, however. Here is what we are sending, with the blanks all filled in, obviously.

    TO: American Civil Liberties Union of (Enter your State)

    I wish to file an action in Federal Court against my (Insert Congressman/Senators name). (Insert Congressman/Senators name) has signed the following pledge with an organization known as “The Americans for Tax Reform:”

    Taxpayer Protection Pledge:

    I, ____, pledge to the taxpayers of the (____ district of the) state of _____ and to the American people that I will: ONE, oppose any and all efforts to increase the marginal income tax rate for individuals and business; and TWO, oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates.

    (Insert Congressman/Senators name) has also taken the following Congressional Oath of Office:

    Congressional Oath of Office:

    “I, AB, do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter. So help me God.”

    I allege that my rights as a constituent of (Insert Congressman/Senators name) have been violated as follows:

    1. That the above pledge is really between (Insert Congressman/Senators name) and The Americans for Tax Reform, not the American people or constituents of his District. The pledge was not prepared by his constituents or presented for his signature by them.

    2. By signing the above pledge, (Insert Congressman/Senators name) has prejudged all issues involving taxes and as a result fails to properly represent my needs and interests as his constituent.

    3. That (Insert Congressman/Senators name) has violated his Congressional Oath of Office. By signing a pledge with The Americans for Tax Reform, (Insert Congressman/Senators name) does not honor his commitment to “bear true faith and allegiance” to his country or constituents. He places the interests of an outside organization above my interests as his constituent.

    4. That (Insert Congressman/Senators name) has violated that provision of his Oath which states that he swears “without any mental reservation”. He has entered into a written agreement with an outside organization that limits a reasonable review of all issues and options, which precludes a proper representation of me, as his constituent.

    Sincerely yours,

    The redress I am asking for is removal of Representative Jason Chaffetz of Utah (my representative) from office so that we can elect someone who will think objectively and represent his or her constituents!

    I really think this is newsworthy. I hope you do too!
    Lisa Bates

    July 26, 2011 at 4:09 pm |
    • Stephen

      Hogwash. They are simply representing their constiuents who elected them. So they are the bad guys? Signing a pledge does not conflict with their oath of office. That's a stretch, and another opportunity for the ACLU to tie up our courts with nonsense litigation.

      July 26, 2011 at 4:58 pm |
      • jay

        "Tie up our courts"? HOW MUCH MORE 'TIED-UP' WOULD YOU LIKE OUR **WHOLE NATION** TO BE? Bah. God forfend. "Our courts"! Hmph!

        July 26, 2011 at 5:29 pm |
    • Stephen

      If you want to do something positive, do something about the lobbyists who are spending billions to influence what congress does. At least put them on equal footing with a citizen who does not have equal financial footing.

      July 26, 2011 at 5:01 pm |
    • Dan

      Lisa, I am sorry that your comgressman is keeping his campaign promises. You are welcome to move to Illinois were nobody does.

      July 26, 2011 at 5:15 pm |
    • jay

      I think this is not only a brilliant idea, but entirely appropriate! These bums (politicians) have broken their word to their constituents. Sue!!! Can We The People claim damages? I think so!

      July 26, 2011 at 5:26 pm |
    • Ondina DeVoe

      Bravo!!! I like the solution that you have presented. Will forward hard copies to friends and CC to my congressmen.

      July 26, 2011 at 5:40 pm |
  91. Jeff

    I wish Obama would have said something in his speech last night like, "Since this debt crisis has been completely manufactured, I'd like to manufacture a little crisis of my own. I've ordered Secretary Geithner to stop paying the salary of all members of Congress until such time as they can get a debt plan into law that lasts into 2013, if not further. I'll consider this the cornerstone of my debt reduction program, which saves the US approximately $100 million per year, assuming the average Congressman gets paid $175 K annually. It shares the pain that the average American will feel from the final package with Congress, and in addition, it reinforces the conservative value that if you don't work, you shouldn't get paid."

    July 26, 2011 at 4:04 pm |
  92. Alex Sanchez

    The money got spent and debt ceiling raised many many times prior to Obama's presidency while Boehner was in congress (he always fails to address that), why does he have any issues this time around? Cuts oh yes lets cut benefits that people don't deserve lets start with tax-loopholes which many do not deserve. Oh no do not touch the job-creators (code word for multimillionaire) well I do not see them creating jobs do you? when tax loops and taxes are increased on the rich... oh oh! sorry the job-creators, is not going to cause them to be homeless or unable to get their medication when they do what they want to do with benefits, that is exactly what they'll do. It is a tax to the middle and lower class! Yes a TAX (new code word for taxing the middle low income population) hidden as spending cut applied by republicans for the poor. They only side with their buddies and their lobbyists who give them money to be elected. They should be ashamed speccialy Boehner, and that comes to show that the tears coming out of Boehners eyes are only theatrics!

    July 26, 2011 at 3:59 pm |
    • Raymond

      Alex – this time there isn't anyone who wants to lend us money unless we reform out system, and make serious cuts to government spending. Regardless of what has gone on in the past – this is reality. We cannot put "gimmicks" in that don't drastically reduce government spending – per want Obama and Reid want to do, which is putting unspecified cuts in the "out" years or saying there is savings with an end to the wars (calculated how?), etc. I think that the lenders and ratings agencies will downgrade the US regardless, as our legislators are all thieves who will keep spending. The only chance we have is to use something like CCB to force legislators what to cut, and then we can have an open debate. Taxing is not our problem – its spending. Congress and the presidents have spent every single dime that has been collected in taxes (including FICA and SS) PLUS an additional 14.7 Trillion. There aren't enough billionaires and millionaires in the country to close the deficit each year, even if you taxed and collected at 100%. Remember – taxes are only assessed on what is "income" – not the wealth that they may have accrued. Changing the tax system is really the only way to address this problem, with a FAIR tax and a VAT – which means that if you want/need something – even the wealthy will have to pay extra for it. But the bad is that you might move wealthy people to the underground, or to other countries to make their purchases (ala John Keery boat purchase in RI instead of Mass, except on a larger scale).

      July 26, 2011 at 5:24 pm |
  93. Donna

    I think we, the people, should pass a law to stop paying Senators and Congress men and women until they can come to an agreement that saves at least $4trillion and raises the debt limit ... bet we will have an agreement then...

    July 26, 2011 at 3:45 pm |
    • James

      Why not eliminate the House of Representatives altogether? It's obvious they aren't serving any useful purpose. If you want to cut spending that's a great and logical place to start.

      July 26, 2011 at 5:21 pm |
      • Me

        Janes, it's people like you with your level of ignorance about our government and it's three branches that weaken this country. It's very difficult to take you seriously and have a debate with comments such as this. I'm done. Signing off.

        July 26, 2011 at 6:22 pm |
  94. MrNews

    Default is not avoidable , can be now or a few months away.
    How you pay 15tril dollars? It's impossible.
    USA is defaulted now and not on 2 Aug.

    July 26, 2011 at 3:26 pm |
  95. Ron Hall

    Interesting that the House of Representatives Email has been down since early this morning. Maybe caused by high volume or is it that they don't want to hear the word compromise. Also thought it might be jammed by a hacker with a political cause or hired. to disable the system. I checked the Senates email and it is working fine.

    July 26, 2011 at 3:17 pm |
    • Rich

      Ron no one currently knows what those emails are saying to congress.
      Some may say shame on you and others may be saying way to go. We just don't know. Some may say. " Get this done", but regardless of what those emails say it isn't going to solve the problem of our debt. And is isn't going to create jobs which is what we desperately need right now in America. Idol people create no revenue.

      July 26, 2011 at 5:34 pm |
  96. Rich

    Wolf what I find hard to believe is that Obama has been in office now for well over 800 days and as of yet the democrats have not come up with a budget. America can not operate on a blank check budget. That is what congress job is. To come up with a budget and then to attempt to live within it. That is not too much to ask. Our government budget currently exceeds 2 trillion dollars a year and the enormous interest American tax payers are having to pay on just governmental loans already out there is no hope of recovery.

    We can not keep spending money we do not have while few jobs are being created to help pay the taxes the government spends. The current rate of expenditures surpasses what the government takes in and they have robbed social security and have never paid those funds back. We are in a lot of financial trouble with no plan to get us out. Even cutting spending does not pay back the debt we owe. Even if we raise taxes on the wealthy they will simply pass those taxes down to everyone else. The middle class and the poor will be stuck paying those taxes.

    The only viable option we have is to cut spending and get out of the middle east. We must get people back to work in America and stop throwing money away on wars we should never have gotten involved in to begin with. Osama Bin laden is dead. There will be others to fill his shoes but we can no longer spend money we do not have on useless wars abroad while our enemy now is the high unemployment rate right here in America and crumbling infrastructure as well as the high debt our government has left us with.

    July 26, 2011 at 2:53 pm |
  97. Karen Reel

    Speaker Boehner and House & Senate Republicans are protecting a tax cut that was never meant to be permanent, but more importantly, was based on flawed calculations that were proven to be false prior to President
    Bush's State of the Union Speech on February 28, 2001.

    Feb 28, 2001 – President Bush (43) state of the union speech lays the groundwork for the tax cuts for the wealthy, based on flawed and erroneous calculations that were never reviewed with Paul O'Neill, Treasury Secretary.

    The calculations used were developed by a mid-rung career analyst at OMB who had worked up a paper on the bond payback problem, extrapolating it from the final Clinton Budget.

    This was passed up the ladder to Karen Hughes and Karl Rove and was included in Bush's State of the Union speech.

    The calculations were flawed to the tune of 700 Billion.

    The basis for the tax cuts was a contention that the 1.2 Trillion could not be paid down largely because the bonds matured after the 10 year period.

    More information can be found in an article Richard Stevenson wrote for the New York Times on the morning of Feb 28, 2001 about the Treasury Bond issue and the error in the calculations.

    The entire fiasco sent the investment houses into panic and the bond market into a spiral.. all over a number that was inherently incorrect in the first place.

    It's that number – 1.2 Trillion, that the Bush administation used to push throught the big tax cut.

    It's that mistake that the Republicans are now protecting, bringing our country to the brink of financial disaster.

    Paul O'Neill's staff at Treasury tried to stop the inclusion of these erroneous numbers in the budget and State of the Union, but the Bush Whitehouse would not listen.

    Additional background on this can be found in Ron Suskind's book entitled The Price of Loyalty, starting on page 107.

    July 26, 2011 at 2:46 pm |
  98. Marblerevealer

    All discussions on reducing the debt seems to be focused on either cut spending or raise taxes... third alternative being going to default and cancel debts alltogether... There is a fourth way, which is not considered seriously... Because it requires a slaughter of a sacred cow in economic theory, and that is accepting defeat to inflation by printing more money. The opposition against printing more money is compact, and the argument is usually that it creates inflation and inflation devaluates the value of moneyary wealth. But this would be the very idea with this. Instead of having the debts cancelled completely I am sure the debitors would prefer to have the value of their claims to the state (the loans they have given the government) devaluated by the inflation following the government printing more money. Just saying.

    July 26, 2011 at 2:42 pm |
  99. Mike Gulley

    I agree, this debt crisis is all about posturing and getting re-elected. The powerless middle-class is all but forgotten. I received an email suggesting," Congressmen should wear uniforms like NASCAR drivers so we could identify their corporate sponsors." Not a bad idea.

    July 26, 2011 at 2:32 pm |
    • Dolores Ward

      That's a great idea...I'm for it...I will pass it on. Thanks Mike

      July 26, 2011 at 5:30 pm |
    • jaleslie62


      July 26, 2011 at 6:49 pm |
  100. Nicole Amelung

    Does nobody remember, what this infamous Rush Limbough once said: "I want the President to fail!" Yeah – that's exactely what the Republicans are doing right now: They want this President – and the country – to fail, so they can appear as knights in white armour in the next election and "save" the country they first destroyed. How ugly politics is! I think, it's time to adopt a multi-party-system like in many European countries: Then you have coalitions on special problems and the country is never in a deadlock like here with a two-party -system.

    July 26, 2011 at 2:26 pm |
    • Glenda Collins

      Nicole I agree this is all about trying to make the President fail..Some people say that the President has not kept his promise to the Nation; where he is not a king, he can not just declare what will happen, it must pass both houses. President Obama can not just make things happen he must have the support from the Congress. I believe in my President.

      July 26, 2011 at 3:48 pm |
      • KevinC

        Glenda, the democrats had 2 years with Obama to passs whatever they wanted to. Never did they come up with a budget.

        July 26, 2011 at 5:43 pm |
      • buddha12

        Just ask yourself- Am I better off now than when this clown took office? The debt has almost doubles (8.7T to 14T and rising) gasoline from $1.85 to $4. Can you buy the same bag of groceries for anyway near the same price as 2 years ago? And now he wants to raise taxes on small businesses. You cant blame Bush for these things.

        July 26, 2011 at 7:08 pm |
    • ko

      I thought that's why Obama was elected, to adopt the socialism way.

      July 26, 2011 at 5:30 pm |
      • pleasecommityourselftoapsychwardblitz

        u are as stupid as wolfff

        July 26, 2011 at 5:56 pm |
      • gone fishing

        ko is your brain running out of your ears?

        July 26, 2011 at 5:57 pm |
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