Committee Chairman Rep. Paul Ryan (R-WI) (C) speaks during a markup hearing before the House Budget Committee on Capitol Hill. (PHOTO CREDIT: GETTY IMAGES)
FROM CNN's Jack Cafferty:
The clock is ticking. The federal government will shut down Friday night if Congress does not agree on a 2011 budget. Republicans in the House and Democrats in the Senate appear to be billions of dollars apart on spending cuts and a deal is nowhere in sight.
Oh, and President Obama is off fundraising in Pennsylvania and New York tonight. But apparently they are all going to try to get together at the White House when the president gets back there later.
But our problems with debt and spending are staggering. And our lawmakers' failure to address the issue in any meaningful way borders on being criminal.
Try this on. According to the Treasury Department, the federal government spent more than eight times what it brought in in the month of March. Eight times.
And by the end of this fiscal year in September, the national debt will exceed $15.4 trillion.
How did we get here?
Well for one, the size of government has gotten out of hand: More people now work for the government - 22.5 million Americans - than work in the manufacturing, farming, fishing, forestry, mining and utilities industries combined.
Republican Congressman Paul Ryan from Wisconsin, the new chairman of the House Budget Committee, says that the United States is at a "tipping point" in its debt crisis. He says the Congressional Budget Office predicts our economy will simply be unable to continue past 2037 if something serious isn't done soon.
Here’s my question to you: What does it mean that the U.S. government spent 8 times more than it took in in March?
Tune in to the Situation Room at 6pm to see if Jack reads your answer on air.
And, we love to know where you’re writing from, so please include your city and state with your comment.
It means that again we spend more than we make, pass the debt onto our children and grandchildren, and are again acting as the world's policeman adding to the debt.
It means we need more revenue. How about we collect a few bucks from some of the big corporations that make billions and somehow get money back from the taxpayers? How about going back to the Reagan era tax rates? The GOP insists it's all spending and that's all baloney. You get what you pay for and I don't want to live in a third world country.
It means the middle class has to pay for the greed on wall street, and the foolishness of the GOP (greedy old perverts) That controlled the congress, whitehouse, and atty. Genl office. We also need to take care of D.Issa and his motley crew. Is'nt he special.
Seems to me it means they've spent 8 times more than they had coming in. Something the American people know as a given WON'T WORK FOR LONG. There's plenty of government waste that could be gotten rid of but yet the Republicans are hell bent on getting rid of anything that helps the less fortunate.........unless it's to go to foreign countries. Where their wealthy friends have businesses. God help this country!
It means that while most of the citizens of the USA struggle daily with finances and unemployment, the US Gov't. is spending like crooks on a crack happy holiday. Enough is enough!
Borrowing from other countries is down? Yippee! Sound the bugle for more military spending or a raise for those in Congress.
It means we need to (1)stop invading oil producing but otherwise pipsqueak countries and at least spend the money we're stuffing up a fat rat's rear in those efforts to develop renewable, clean energy and (2) stop doling out corporate welfare and collect some significant tax dollars from those who have become obscenely rich ripping off the vast majority of us. Maybe then we can make the American government look to the best interest of Americans.
Jack: It means that all the taxcuts for rich and the taxcuts for the rest of us need to stop. I do not like paying taxes, but I do not want to be owned by China or any other nation. I want jobs for people who try to get an education in a technical school or a university to make a better living for themselves. I need a government that assist citizens in receiving the training do a job with a future. Companies need incentatives to stay in America and hire AMERICANS. WOW!! WHAT AN IDEA.
It means to me that the whole national conversation on budgetary matters and deficits is seriously flawed as we’re only discussing one half of the problem and ignoring the fact that declining revenues due to tax cuts to the wealthy and loopholes in the tax code that allow corporations to avoid paying any US taxes; two unfunded wars and an economic crisis brought about by Wall Street that put millions out of work through job losses that further erodes local, state and federal tax revenues that are the REAL problems.
Any household will tell you that when looking to scale back, you cut spending where you can but there are some expenses that are necessary. You do what you can and any shortage has to be made up by finding additional sources of revenue. I’m no rocket surgeon *smile*; it’s fairly simple to figure out you’d think even Congress could do it. Maybe Congress would be inclined to do so if half of them weren’t millionaires themselves and are merely protecting the interest of those they appear to serve and it sure doesn’t look like it’s we, the people.
I’m with US Uncut here in Atlanta and organization is working with many others around the country in order to unify and stop the sickness known as austerity cut madness syndrome and telling corporations it’s time to show some corporate patriotism and pay what they owe! It’s incomprehensible that they are using the benefits of American infrastructure and government services and what I have in my wallet right now is more than what many of these companies have paid in US taxes. I pay my taxes; so should they.
Thanks Jack, for all that you do on CNN; your pieces are the reason I tune in to CNN! You get people angry and most importantly, you get them to think even if they don’t agree. That, sir, is a beautiful thing!
Hmmm...tax refunds going out, April 15th filers not paying in. 1st quarter estimates not due yet, 150 Cruise Missiles lobbed into Lybia. Cash accounting against no approved budget is a bear to explain. However, furloing a few hundred thousand govies and contractors for a few days in April should put us right back on track
Republicans: That we have a spending problem
Democrats: That we have a revenue problem
Real people: Maybe we should end our wars?
A single month does not mean much, but it is an illustration of the problem. Here's a better question: 'What if we actually achieved consensus on how much government we as a nation want?' It is my guess that if we then added up the score on its costs, that consensus would then break down completely. Our problem as a nation is that we WANT and EXPECT, but don't want to pay the freight! America needs a good collective 'talking to!'
Jack, the Fed is already monetorizing the debt all they have to do is keep the printing press running a little longer to make up the difference. The solution is so obvious even a republican can see that.
It means that 40 cents on the dollar is really crushing us. All I can say is revenue, revenue, revenue! I don't like the tax cuts for the rich in Ryan's plan (25%) but its a starting point. Time for the Dems to show me something and come back with a counter offer.
When you have 58,000 factories shuttered, tens of millions of people unemployed or underemployed, 2-3 ongoing wars, extra bonus tax breaks for the rich, corporations not paying any taxes yet collecting subsidies, our Fed funneling money to the banks, and politicians making a lot of money for doing absolutely nothing, I'd say we have a revenue problem. And the answer is to make the poor, middle class, elderly, disabled, and school children pay for it. I think we've lost our way. Hopefully we can find it again.
What do you think it means Jack? The fox is in the henhouse, Congress is out of control, the President is spending money like a drunken sailor? Maybe they need to re-read Thomas Paine's Common Sense, because they are sowing the seeds for a new American revolution.
It means the problem is on the revenue end of the equation. We need to start collecting taxes again.
It means they're going to have to bring in more revenue. Paul's 2012 budget plan had the audacity to propose lowering corporate and high end individual's tax rates from 35 to 25%. Sometimes I think these guys are actively trying to incite a class war.
It means of we have some wars to get out of and cuts to be made in our budget. It also means the tax break for the wealthiest people should be taken away. GE and other companies like them should start paying taxes and not receiving tax incentives.
It means too many rich people and corporations are not paying their fair share of taxes and that our corrupt politicians are doing what these same people and corporations are paying them to do. Eve of Texas
It means we really couldn't afford those huge Bush tax cuts after all.
Trickle down economics didn't trickle, and the cute bumper sticker slogan "A rising tide lifts all boats" bore no relation to economic reality.
Tax cuts for the wealthy were supposed to make us all rich.
It doesn't work.
Change the tax brackets back to what they were in the prosperous Clinton years, and not what they were in poverty-filled Bush years.
It means that politicians see the budget issue as a rally cry for a sound bite. If they actually fixed the problem, it would be one less issue for them to blame the on the other party.
It means that they have ALMOST caught up with my ex-wife's spending logic where she thought since she had still checks in the checkbook, she must still have money.
Congress isn't worried either, they can print all the money they want and hope the voters will forget by the next election or they can retire with their pension and perks and move on to the private sector and make millions.
I personally think that if an elected official doesn't get re-elected, they shouldn't get any pension or perks. That would be the perfect motivator for Congress to get something productive done or retire and get out of the way.
It means that corporations and their rich friends all got richer, while the rest of us bear all of the costs. But don't worry grandma, you voted the republicans in and they are going to stick it to you eventually.
It means that the government needs to get serious about collecting tax from giant corporations like GE and Exxon. It is obvious that the government needs money to do its job, and I believe most of the money that is spent is for the worthy causes. It is highly irresponsible of the congress to argue over the minuscule spending cuts and not address the revenue side.
That we have a vast military empire that serves our Corporatacracy and not our citizens. We also have a tax code that serves our Investment Class instead of our citizens. What it means is that if you see someone on TV talking about how we need to cut spending what they are admitting is that they are one of the 1% that benefits from America's current structure or they have succombed to the upper 1%'s propoganda.
The wealthy of this country have gamed the system so they can pay for all of the benefits of being American without paying for it. It is this that needs to stop.
It means that government needs to actually start collecting taxes from big business and eliminate tax cuts for the wealthy ... retroactively.
It means that the government has gotten way too large.
If the shutdown actually happens, we should take advantage of this by implementing a requirement that the government live by a balanced budget and follow the U.S. Constitution.
That may mean that we continue to let the government operate after the shutdown with only "essential" employees. We could then add a few more as needed but continue to keep a much downsized government. Then, the government would no longer be spending 8 times what it take in with taxes.
I have read several excellent non-partisan pieces that all point to the same culprit: The Rich. We could end our military empire and it would still not be enough. Gut entitlements? Still not enough. Even if you gut entitlements and drastically reduce the military we still come short because of a revenue problem. The ubber rich are the class in this country that reap all of the benefits of living in American and do next to nothing to pay for it. If we don’t change that then the country financially collapses. Of course the rich would have you believe that the real answer is to destroy your children’s chance at a decent education and that you should work until you’re 85 all so they can invest in a factory in China that they will pay no taxes on in the US because the profits aren’t physically made in the US. But I digress.
Spending like you see here is natural result of annual increases of the national debt limit. If someone wants to spend more next year, increase the national debt limit this year. And do the same next year and the year following. The democrats say they want to decrease spending to a level that is a little less than 5 times what the government takes in. While the republicans plan is to cut spending to about 90% of what the government takes in. But don't the democrats also say they want to increase the national debt limt. Go figure.
It means, despite all the rhetoric about reducing the deficit, it is business as usual in Washington which is simply out of control. It is a genuine scandal.
Gary in Scottsdale, Arizona
It means that we're still in Iraq and Afghanistan when we were promised we wouldn't be. It means we bailed out banks and big business so they could party hardy and pass out enormous bonuses. It means we don't tax the richest people in the country, we don't tax big corporations, and we give perks to companies that send their business overseas. It means we are spending a fortune to fight drugs on the street, while we let the borders leak like a sieve, ensuring drug dealers a constant supply. And it means we're all - all of us, Jack - stranded on the Bridge to Nowhere.
What does it mean that the U.S. government spent 8 times more than it took in in March?
It means that we need to pull out of Iraq and Afghanistan. It means we need to end those No Bid Contracts. It means that those in the House and Senate should forego their pay and taxpayer provided health care until they get Americans back to work, come up with a fair tax for both corporations and the nation people where we all FEEL the same level of shared responsibility/pain.
The Republicans need to remember that "MY WAY OR THE HIGHWAY" is not practiced in a DEMOCRATIC SOCIETY.
It means we are broke, and everything we do is done with borrowed money. The dems need to stop whining and start cutting. The news media should put a graph on the screen everyday showing what a 15 trillion dollar debt looks like and how small a 60 billion cut is compared to the 15 trillion dollar federal debt. Obama and congress have been corrupted with corporate money and are no longer capable of solving our budget problems. Two billion dollars will be spent in 2012 to get another corporotist in the whitehouse. We are done. There is no hope.
That the rich continue to get richer. Raise taxes on the rich–give middle classes a break! GE paid NO Corporate taxes last year–read my lips–No Taxes!!! Shameful.
It means that the Bush Tax Cuts should been allowed to expire at the time designated by President Bush himself.
There's not enough domestic tax paying jobs in the US, too many lobbyists affecting the tax code that creates such huge corporate tax loopholes that the huge corporations like GE pay zero taxes on billions in income – and manage to get tax refunds.
Its voodoo economics plus unbridled greed that makes for these huge deficits.
washington is out of control but it is not just the democrats who are spending our money. just follow the money trail and you will everyone's fingers in the pie.
Doesn't mean a thing except that we seem to have a bunch of self serving politicians arm wrestling each other for power, with no ability to compromise, and a sole focus of "being right" rather than the higher ideals all of us aspire towards. Did you see Boehner smirking and laughing before taking the to podium today at 3:30? He ALMOST couldn't contain his glee at their failure to pass the latest budget legislation, and the chance to throw barbs at the president for flying off while the two side were bickering (even though Obama offered to hold meetings which both sides declined so they could try once again). The facts don't matter. Poor people don't matter. The country doesn't matter. Only looking good at another's expense seems to matter to these SNAKES!
It means that Democrats still think we can keep spending and spending. Anytime the Republicans even offer the slightest cut the Democrats refuse. It is time to cut and cut deep. People may not like it but the gravy train is over.
It means we have spent and continue to spend money on three fraudulent and obscene wars and it is time to stop. It means those who have profited from these illegal wars must now be held accountable morally and financially and made to return all the profit they gained from this immoral business venture. Especially, Halliburton and Cheney. It means we have a failed government and the citizens of America have been and continue to be betrayed by its Congress on both sides of the aisle. while lining their pockets and the pockets of corporate America.
It means for the last 10 years and for the last 30 years before that ... our decisions makers have made poor decisions. In the 80's we spent enormous amounts more than we earned, in the 90's we started to stabilize or deficit, and after 2000 government decisions want "wacky" running-up bills that no one can solve.
Jack, we raised military spending to enormous amounts. We can simply eliminate 70 Percent of our military spending, withdrawing all troops from FOREIGN Ports. Recognize, I stated – "FOREIGN," which says to me, we do not need to be there.
Use our military here at home. If necessary, why not place tracking bracelets on all foreigners entering our country, sounds crazy, but it might work.
Tell me, how many people would enter the former Soviet countries prior to the break-up. Check-points, register your VISA in each and every city. Why not, Russia still has visitors register with the Visa office in each and every city we visit.
The KEY, is to not require these same restrictions on AMERICANS.
Joe, Binghamton, NY
It means that it is time to end the wars in the Middle East–bring all our troops home. It's also time to close tax loopholes, and start having all Americans and all American corporations and businesses pay their fair share of supporting America and its programs. It's time to cut government waste and take a look at what can be cut in all parts of our budget–then use some common sense in cutting it without doing it all on the backs of the middle class, the sick, the elderly, children, and the poor. Then it's time to clean out Congress with some term limits....
It means we should start realizing the Republicans are wrong. We don't have much time left to correct this problem. There are many things needed, and the political game of "who has the best answer that doesn't touch taxes" has to stop. Cut spending on killing and destruction, and the repairs needed after the destruction. Stop instituting programs to raise employment. Just give poor people money. I know how absurdly liberal it sounds but it is the solution. Giving poor people money will instantly create demand in the economy. Instantly. No trickle needed. But don't take the money from the poor! Take it from the rich! Straight Robin Hood style. Its not a secret why the economy is stalling. Its because there is no money left in the bottom. 70% of the people can't afford to buy things. We have to squash the myth that you can continue to acquire wealth with zero consequences. The words "economy" and "elite" don't work well together. That's the whole answer Jack. Welfare costs go down when employment goes up. Unemployment costs go down when employment goes up. Social Security? Big deal. Raise the retirement age or something. People live longer now, grow up and open a freaking savings account.
Jack, For the record, I am an independent who leans to the center. This is where i get frustrated. Paul Ryan put together a very thoughtful budget to reduce the deficit and all we hear is how extreme the Republicans are. The Tea party wants deeper cuts and then we hear how extreme they are. Do people not realize that we are in EXTREME trouble if we don't get a grip on government spending? Let's be realistic people!
It means that when someone like Paul Ryan actually puts together a serious budget with realistic cuts everyone calls him extreme. Do people think this deficit reduction will occur with no reductions?
Doesn't mean anything unless you also calculate in all the other 11 months too. Thats the number to pay attention to.
It means that Democrats have been in charge too long and it's about time the adults took the keys away from the children.
It means America is over extended with debt. Our government can not continue on the current path or it's people will eventually revolt. We can not pay the loans we owe for the ones we take out each day just to stay open for business. America is becoming a bad risk and no company wants to come here because of the laws, the rules and taxes are so high that they can not compete with other countries. Our government has driven business away not enticed it to it's shores.
It means that the Democrats in charge still haven't processed the shellacking they took in the last election. They are still supporting a socialistic agenda that is the biggest vote buying scam in history. They still don't understand that the people have woken up and realized they have to pay for it.
Jack, it means that 30 years of Republican economic practices have nearly ruined this country. Not counting their continuing campaign to do away with the income tax on the rich, they have driven so many middle and working class people downward in earnning power, that almost 50% of the people in this county don't make enough money to pay taxes. This is a big reason our debt has gotten so high.
It means our country is in a lot of trouble financially, among many other ways. This administration has been a nightmare. And President Obama is going to run again? Didn't two terms of former Pres. Bush wake us up?!
What does it mean ??
Simply that most politicians in Washington have ZERO interest in anything but "buying votes"............the art of offering constituents anything, free and clear, from cradle to grave...................for their support, regardless of cost to honest, legal, working American citizens, and regardless of their actions destroying America.
It could be called the Reid-Pelosi-Obama Highway to Insanity.
It means were all one step closer to becoming Chinese subjects. Chop suey anyone? Fortune cookie say "we're screwed"
It means we are bankrupting our country. If the country was a business or household it would already be bankrupt. We need to stop spending money we don't have!
It means that the tax cuts for the Rich are the true cause of all the financial problems in this country. It also means the members in Congres who are hell bent on keeping these tax cuts for the rich don't give one damn about the middle class/poor of this country. Wake up America, if we let them get away with what they want to do, 99% of us will be living in poverty. If we are stupid enough to let these members (of the Republican/TeaParty ) have their way we will end up a Third World country.
Whatever happen to civility in the Congress where people worked together to get things done? I have never seen or heard such hatred being thrown about as there is now in Congress. I firmly believe that these folks spewing this hatred instead of doing all they can to help restore jobs in this country should take a good hard look in a mirror, because someday they just might find themselves on the low end of the Totem Pole. If and when that happens boy will they be singing a different tune.
It means we have an incompetent goverment. For one, lets stop sending all that aid money to countries that don't even appreciate it. Instead they murder us for it, Afghanistan, Iraq, Libya, to name a few.
I know its a little simple but I always like the part in the movie "Dave" where the Presidential double sits down with his staff and cuts the budget by millions of dollars to support a much needed shelter for misplaced children and he did it by cutting funds to areas that were nothing but a waste of the taxpayers money.
Maybe we need just a little simple common sense.
It means we have a government who can't live within their means.......and SS isn't the problem, either!
We lost the war against Vietnam, we have more people in jail than any other country, we have a problem in the education of our children,we have 9% out of work,we have 20% with out health insirance,we have infrastructure problems, and 10000000 illegals,we have more than a revenue problem.
It means that despite Obama's promise of "Change you can believe in," nothing's changed.
It means that everyone needs to pay taxes, not just the middle-class and the poor, but corporations and billionaires as well.
America was running a surplus when Clinton was president, before the Republican tax cuts for the super rich.
It means we are paying to much interest to the super greedy rich that created this mess who today yell, "Pay Off Our Debt". How about they learn to Fogive Our Debt so America can move on.
42% or about 6 Trillion Dollars is owed to U.S. Citizens and Institutions. Tell me who they are and we will find our problem.
You can take that Disclosure to The Bank!
That's not hard to figure out!! That means you are darn near BROKE !!!
Agree, Bush tax cuts should have been allowed to expire– there is a MORAL issue here. Why does no one in the public media address the issues that the programs being cut are all programs directed to help the poorest of our people, medical, education, social security? There are many spending programs in the military area and in relief to corporations, which are not being looked at. Government has responsibility to assist our neediest. The Congressmen who want to cut spending need to consider which areas can be most appropriately cut without doing damage to our citizens most in need.
It means that not only will I have to pay my own bills but I’ll also have to pick up the tab and debt service for a government gone wild. But the bad part is that none of us of a certain age will live long enough to make a dent. The loss will be shouldered by our children and their children.
You have to ask? It means we're spending more than we have and that is a recipe for disaster. Not that the federal government needs to have totally balanced books, but they need to net closer to zero than they do today. That sort of spending is unsustainable. However, what the Democrats want and what the Tea Party propose is idiotic and will totally tank the economy, regardless. What ever happened to fiscal common sense? If you get rid of or temper the Tea Party demands in Rep. Ryan's latest plan, I think you have something to work with. We need to reduce spending, but we cannot just "through the baby out with the bath water" because we still have to invest in some areas to have growth down the line. The fiscal health of the federal government is not like a family budget, but it is also not an open checkbook. Over the past decades, we have been very sloppy with our finances and we need to be more responsible. You cannot have your cake and eat it too. We need to show that we are going to be responsible, but that does not mean we have to be draconian about it.
That the morons running the show need to go back to school, grade school, and relearn basic math skills.
It means our government works on the I got Checks I got Money princepal, just like it always has. Only now it's plastic we are in deep dou-dou folks.
It means that it is long past the time to stop pounding the middle class into the pavement and make the wealthy and those corporations that pay no taxes while getting government handouts pay their share. The problem is that I already paid my share AND theirs! Time to give back play on a level court. All I hear is how the poor downtrodden corporations’ taxes are too high, like less than 0% on $5 billion in US profits,
It means those who benefit the most from our society won't pay their fair share of it's cost.
It means the GOP tax cuts kept revenue from coming in, those same folk won't hire, so unemployment is still high and the GOP is hell bent on making things as bad as they can get so they can play superman for big corporations and the rich.
Apparently it doesn't mean much. They are still spending. Not to worry. when the well runs dry they will turn to us for more only to find that all the Well Drillers have gone to China.
It means we HAVE TO STOP SPENDING!!!!!. A classic example is the current budget crisis where the Democrats REFUSE to stop spending. They would rather shut the government down than to stop their pet projects. EVERYTHING MUST BE CUT.
It means that despite giving taxpayer dollars to the rich and corporations, the GOP is so busy having government watch women's uteruses and preclude planned parenthood that they haven't had time to create jobs. It's a sad situation when the GOP has pandered to their donors, allowed massive tax cuts, loss revenues and then take their marbles and go home. Get out of my doctors office!
I guess it means they did not collect enough taxes, and if the Senators and Representatives want to take money away from the elderly, poor,and kids, it would boost belief in their sincerety to balance the budget if they would cut their own salaries by $10 thousand each,and remove the provision of giving themselves an automatic raise in salary each year. It's only a drop in the bucket as far as budget slashing is concerned ($1,000,000 for the Senators alone) but they should share in the cuts like the rest of us.
It tells me that the rich need to step up and pay their fair share of the taxes to run the country. The Middle class can not afford the luxury of the rich feeding of our backs any more, as they continue to send their/our jobs overseas. If they are one of us, they need to be responsible. If they want to send their jobs over seas go live in of that's countries sweat. Other wise be responsible and build back the America they have destroyed. Real Americans build up their country. And wouldn't feed off of it. Or would they...
It means the government took in eight times less than it spent. We need to get the fat cats contributing again
It means that international corporations need to start paying taxes no matter where their mail boxes are.
There ia deficit (of course you knew that but are apparenty are fishing for support of extreme budget cuts) , caused by wars and irresponsible, unregulated financial activity all of which Bush got statred,.
It means we, the public, have to have a real debate on how to address the debt problem. Politicians are not only ones on the hook here. We like many of the government programs that are contributing to the deficit but we do not want to pay for them. The politicians will only the get the message as soon as the public does.
It means that those bankers, corporations and Wall Streeters whom came out of 2008 with all that ill-gotten gain, should pay some taxes.
You just can't keep cutting services and expect the same service on what the middle class and the poor can be taxed on. It won't be enough.
Also the argument of the corporations paying less taxes to create jobs doesn't wash. If you give any rich person a $10,000 or more in tax breaks, he/she is going on vacation or shopping. They are not going to create a job.
We dont need another actor/show host to run our beatiful country.We need a military lider with honesty and integrity to take over the government and lay off all the UFO that we have in the Congress.
Incredible that in United State we have to closed down our parjks and recreations sites...We need to ley off oll the members of the congress and make our country proud of tha past. Amazing that we need 3 billion dollars to invest in politicasl ads while we are closing school, lay off teacher and programs for our little ones
Taxes on the richest are way too low, the Middle Class hasn't seen their incomes go up since 1980 (cenus). The Middle Class drives the economy and they have no doe and high unemployment. Country is headed in the wrong direction and the people are voting for it.
I don’t think it means anything. This whole economy sham is just smoke and mirrors to keep us ignorant peons in line and in fear. If there was a threat to it all collapsing, the none-taxpaying wealthy that really control the economy would have the most to lose and would make sure it didn’t happen. A balanced budget requires a balanced tax code where everyone plays their fair share. If I can pay 20-30%, so can everyone else. The wealthy lack the desire to show proper appreciation to the country that allowed them to make that fortune. It wouldn’t have happened anywhere else.
It means that we need the stimulate the lower income brackets of the economy to create jobs. [This is known as Consumer Spending]
Once these people are back to work the costs of entitlement programs will be reduced while the tax revenues generated from the former unemployed will begin to turn the deficits into surpluses.
Stimulate main street not wall street. The money has to be spent in the economy and not stashed in tax deferred investment accounts.
It means Wall Street and the wealthy have been bailed out and the American people are still waiting for help with jobs.
Obviously, the republicans know that the only thing to stop spending is lack of funding, If the federal government shuts down, then cuts must me made at the gut level of heads in agencies, without deliberation in congress, if business can scale back to adjust then government should too. A county, state or federal job is a great job to have, Why are they granted immunity?
It means that Capitalism has run its course. Time for a new way.
I think its a sad example of government waste, a a bad sign of things to come.
Jack you're being dishonest when you report that the government employs more than manufacturing, farming, etc. industries. All of those industries are primarily capital-intensive, not labor-intensive. As for the debt; USA has more assets than most of the world combined so we have plenty of room to run up a little more debt to keep the gov't afloat.
It means we aren't bringing in enough money. The rich get tax cuts and loopholes upon loopholes and the poor get screwed in the name of big business.
The budget cuts affect the poorest of the poor while the loopholes and corporate welfare for the rich men running the industrial military complex stay in place.
Education, Drug Rehabilitation, Health programs especially Mental Healthcare, Pell Grants, all cut.
Who do these programs benefit? Oh yeah. The Poor.
It means it's time to raise taxes. I simply cannot understand how cutting taxes, especially on the rich, can some how spur the economy into recovery and fix our debt problem.
It appears that our politicians,both parties, are self absorbed and living in the moment.
It means it's time to get rid of ALL our politicians and put the Nurses and Teachers and Firefighters in charge!
it means the money spenders are stupid and need to fix whatever they are doing wrong before its too late. I'm seventeen and i could spend the money more efficiently than this government.
It is not surprising. The government is spending other nameless peoples money. not their own money so it is easy
Jack, Socialism is easy to understand. People pretend to work and government pretends to pay them. Our money will be worthless but it will be used to pay worthless people who believe government owes them everything.
It means that we are fighting two unnecessary and expensive wars, and that we have at least 100,000 mercenaries out there, earning up to four times as much as regular military personnel!
Put THAT on the table!
It means that the Obama administration is trying to hide high unemployment numbers by creating government jobs.
It means we need to take in more revenue. Raise taxes on the wealthy to provided for our national community. Shared sacrifice means EVERYONE, not just the poor and middle class.
It means war is expensive especially when you don't rise taxes to pay for it.
It means our government does not know how to manage money. It means, statistically speaking, we are creating our on destruction.
We need "real" leadership. Somebody that will end the games. Apparently we don't have that yet.
The wars in Iraq and Afghanistan were never funded.
The costs for the past 9 years plus are pure debt – and
borrowed from China. No one is talking about this –
No one wants to talk war taxes
It sounds like the government got a sub-prime mortgage loan.
It means that budgeting for the world that we live in, (Japan crisis, Libya, Yemen, Af-Pac, extension of Bush tax cuts for the very wealthy) is impossible.
Jack, take a breath. This is not that tough. What does it mean that we
are spending lots more than we take in? It means we need REAL tax reform, and we must get the wealthy and Big Business, such as Bank of America, to pay their rightful share. As it is now they pay next to nothing. Make the progressive tax system just that. Tax the super rich. The budget will balance when we agree to pay our way. Thanks for asking.
It means the stupid trade policies initiated bt Reagan and continued by both parties have come home to roost.
If we don't get back to reciprical trade and start making "stuff" again we are doomed.
Collect more money and END the asinine TAX CUTS during 3 wars!!
Jack, right on target. It means that we are not in control of house. What I don't understand is why the Tea Party gets raked over the coals by the media when their main argument is the one you so eloquently stated. If this were our personal finances, we'd be taking this more seriously! If we failed in our jobs to complete an assignment months ago, we'd be fired! Holy Cow! Holy Cow!!!
It means maybe doubling down on the Bush tax cuts for the wealthy might not have been such a good idea. Nice compromise Obama.
It means that the rich get richer and there is no revenue coming in because most of the moddle class are unemployed. When private industry doesn't hire don't blame public servants for finding work. Oh and tehy pay taxes.
it means that we pay China more in interest than we take in in revenue
What does it mean Jack, it means we have to take in more money. The Bush tax cuts much be repealed....and yes, there's room to shrink government as well. How about doing both?
Of course we need to cut spending, Jack, but that's not the most important issue in the long haul.
We must make more money. Government isn't getting tax revenue because Americans aren't paying taxes – we're broke so our government is broke.
It means they are being Americans!
You know2 that old song,
You don't know what you have till it's gone
It means we have a "3-P" government...politics, perks and partisanship. They love spending money that isn't theirs. We may not realize it, but our ballot box is a form of term limit and we need to use it as such. Tell them to quit acting like spoiled 10 year olds or you're fired.
That Obama is still "hopey and changey" about what the future will hold.
It's "live today, pay tomorrow"...Seems to be the American way of life.
Our government is bloated and out of touch, it's easier to just "kick the can down the road". Our useless Congress "fiddles while Rome burns".
in twenty years United States will be a territory of China.
It means to me that our government cares nothing about it's people. We elected them, and we should be ashamed of ourselves for listening to the hot buttons they push to be elected, and not force them to focus on the REAL issues. I have a son currently serving OUR country in Afghanistan, and I find it deplorable for them to ask him to serve, and then tell him and the others risking their lives, that they might not get a paycheck. Makes me want to enlist tomorrow. Come on AMERICA, get all these buffoons out of office and elect some common men and women who understamd and really CARE about our country. Just saying.
It means that they have no integrity. Even my kid know that you can't spend more money than you take in. If it wasn't my money, it would be funny!
It means we have too many pampered, egotistical politicians who would rather play oneupmanship games than do their jobs! The people are being asked to bend over and take it once again while the politicians boast of billions being raised for their re-elections!
In 1863 the USA had already amassed a debt of $1Billion dollars.
87 years from the time it became a country and even then spending was out of control. It's disgusting that no one has learned anything at all in all those years.
do ya THINK taxes collected from corporations and wealthy might just be the answer?
you do REALIZE it's always the Dems giving and the Republicans not giving an inch? can you imagine how much the Dems have given on this? just like how much they gave on health care so we got the abortion of a healthcare system that squeaked through? and the lameduck tax breaks?
this country is so screwed up because of the republicans.
have you SEEN the charts of the debt incurred while each party was in charge?
whose side are you on, anyway?
Jack, it means that those who could afford to are not paying their fair share! Republicans have no problem spending for wars and subsidies for giant corporations, but keep lowering the share of the burden that they carry. Corporate taxes are lower than in decades, the wealthy pay less and less, and yet the battle cry continues to be to cut taxes. Where is the fairness in that, I ask.
I don't know which mud vein of this condition is the worst? Is it the fact that the politicians are criminals, negligent, or both? The fact is we need to just suck it up and not spend more than we take in–period. If that means entitlement programs get cut, then they have to get cut. Placing these kinds of barriers on spending are the only way we can get this under control. Let them justify every tax dollar before it is spent. My dad once told me, "if you want to dance, you have to pay the fiddler." Well, it is time for us to pay up–the rub is a lot of the people who got to dance on the tax payer's dime are already dead.
First thing we need more money coming in. Taxes need to be raised for all earning $300,000 and above. Also, while the corporate tax rate should be lowered to that of the UK, all, note all, tax loopholes for corporations needs to be closed. If that were done in the next quarter, we would be well on the way to facing a more secure nation.
The US government is addicted to spending. The elected officials are addicted to spending. I worked for the federal government for 20+ years and saw first hand the way budgets are conceived and how little thought goes into trying to spend the money efficiently. They just ask for more money each year because they know it will get approved and then find any old way to spend it all so they can ask for even more the next year. The private sector americans need to stand up and say NO MORE!
We elected this band of idiots who claim to know and do what is best for "we, the people". All I see is self-serving, greedy, ego driven individuals who lied to "we, the people" to get elected so they can chase what I call THE MORE - I want MORE, I need MORE, I am going to get MORE and I could not care less how I get it or how "we, the people" might suffer because of it. I can only hope some of them will learn to be as ashamed of themselves as much as I am ashamed (and outraged) at their reprehensible behavior.
It means the economic collapse experienced in Iceland, Greece and Ireland will soon reach the US.
we, the constituants of government,need to insist on TOUGH LOVE, like parents today do with our children: you do NOT spend more than what you bring in...you save for the future; you recycle, reduce and reuse.
YOU LIVE WITHIN YOUR MEANS
If the top 3% of the country's wealthy and the large corporations like GE were forced to pay their fair share, we might be able to climb back out of the abyss and once again have a stable economy. What kind of alchemical formula is it that says you can run a government without taxation. In 1955, the corporate share was approx. 30%. Today it's 6%. Does that make any sense????
it means there is no free lunch and the time has come for those that are on the handout list start putting out and work for what they get...
too many people working for the gov. it has to stop or we'll be like all the other middle east countries... a small taste was the unions uprising in Wisconsin...
It means that the politicians took a budget surplus and willfully made it into a deficit. They did so WILLFULLY for ideological reasons: bankrupt the country to force social program cuts. Otherwise, call it feed the rich and blame the consequences on the poor. Jack, where where you when the black ink was truned into red? Belated indignation?
It means that Bush cut taxes way below where they ever should have been. It means we're in two, and one quasi, wars. It means that our GDP is still down. All that said, we should not be cutting spending right now. The cuts the TPGOP wants right now would result in the loss of almost a million jobs, and the risk of a double dip recession. The long term debt is what needs to be dealt with, but it makes no difference whatsoever whether something is passed this year or next year. None. None because virtually all of the changes won't go into effect for years to come.
That our elected officials can't balance their own checkbook and should not be in charge of the checkbook for the American economy.
G.E. doesn't pay taxes. The money is sent overseas. We don't collect taxes from those who are the most able to pay and benefit the most from living here. Tax 'havens' abound and we do 'make' anything here anymore except money- for those who already have enough.
It means that the 30 year Republican program to strangle the federal goverment is succeeding. The rich appropriate more and more of the country's wealth for themselves, pay less and fewer taxes, and leave the immense bills to the middle class and poor. If you think the French Revolution was bloody, just wait until the ignorant masses finally figure out what the Republicans, Moral Majority, Tea Party, etc. have done to this country. Not that I have much hope of that. Not after the last election.
Our government is out of control. It is truely time to clean house and start over. We need term limits for all. The american people need to stand up and demand A Government for the people and not a Government for the Government.
What does it mean, we have the wrong folks in our governing body. All you hear is yes we are spending too much, they have a close door meeting, then they all run to the TV interviewer and complain about the other party. They might need someone to help blow their noses pretty soon. As with Mr. Ryan, his solution is to cut benifits, education and such programs. How come no one talks about getting out of our wars? No one, from where I sit, knows what they are talking about except they are having turf battles.
Hey Jack we are in this mess because the Republican and George Bush got us into all this.Two wars and wanting TAX breaks for all the old rich idiots up there.They don't care about anybody but themself because they no they are going to get paid and they can live a good and wealthy life.
It mean we can't afford two billion dollar a day to kill people inb Afghanistan. We can't afford to spend two billion a day in Iraq. It means we can't afford to keep bases in 186 countries. It means we can give foreign aid to countries, who by the way have sound economies and don't need our money. The English went bankrupt, the Russians went bankrupt. Do you think taking money from desparate poor American people to finance the occupations of foreign lands will keep the USA afloat is the right decision? Yes, you do.
It means we are consuming 7 times what we are willing to pay for in government services and the credit card is maxxed out. Except for a minimal infrastructure make EVERYTHING a fee based system (like the Highway Trust fund) so if you want to use it, you have to pay for it. That includes eliminating the cap on SS taxes and fees to those foreign countries who want the help of our military.
How can you rant about getting a few billion more from kids when we just gave a trillion in tax breaks to hedge fund managers a few months ago by the same people. Deficits are paid in, minus paid out. Let's be human. Pay up and move on.
It means a lot of us work for the Government and I am one of these workers... I guess I better not expect my Americorps "Teachers for America" job to last.
What does it mean when the top 3% of the rich, pay no taxes?
When companies like GE pay no taxes?
So let's cut the medicare and support for the bottom 50% of americans and that's fair?
I am a true prophet of the living God. I say, "put these people who's been elected by the people in jail". Jack, you are correct! What they are doing is CRIMINAL.
It means we have to take in eight times as much in taxes. While everyone talks about cutting spending, nobody wants to raise revenue. This great life we have in the United States comes at a price. If everyone is so concerned about passing this debt on to their grandchildren, it's time to ante up!
End Tax Cuts in the midst of three wars, and take in more money, that'll be a good start! Tax cuts during war time and the worst recession since to Great Depression?? Seriously???
from Whitman, Mass.
I'll tell what it means. It means that once again somebody up on the hill is hedging their bets that more money is coming down the road. Were we not just talking about not making that same mistake again?
If the United States Goverment is going to be one of the largest employers, then it needs to run it like a business. If revenue is tanking, then those who are running things, The "CEOs" need to take pay cuts and benifits cuts, if nothing else, as a sign of goodwill that they are just like most Americans. How about Congress and the Senate making what most American's do? We could cut millions of dollars from benifits for life from those who can afford to purchase their own. This is not a problem of the President of the United States. He can only urge Congress and the Senate to stop being children, but can you expect Congress and the Senate to cut their pay or benifits to protect the average Amerincan? Would you? Why don't they start with those "entitlements" rather than cut the entitlements we have paid in for.
One way to solve the current gridlock is to declare Congress "Non Essential Federal employees" thus they are furloughed if the government shuts down. They don't do anything and are not doing their job in Washington so do not understand why they are considered "essential" employees. Furloughing them would save alot more money than laying off National Park employees or other Federal employees that actually do something usefull. Our government is too large considering that it is a non productive organization. I does not take a genius to realize that we, as individuals, cannot live our life totally on borrowed money. Why can't the idiots in Washington figure that out. One way to save money would be to reduce the number of Senators by 50%, why does each state need more than one, and reduce the number of Representatives in the House. Be interesting to see what that would save in the way of salaries, benefits, expense accounts, and business vacations around the world. I wish I could take as many paid vacations as the Obama family does.
You and much of the country look to the Rebuplicans for an answer. These are the same people who moved much of our manufacturing to other countrys to save on labor costs. Tax refunds and rebates go for items manufactured overseas and only benefit the corporations. It's not surprising that more people work now for the government than anywhere else. Where are the jobs??
My wife and I make $60,000 a year. 60 grand times 8 = $480,000.00 If we spent $480 grand in 30 days based on our annual income we would be broke and bankrupt! The US gov't is out of control. The money spent by our gov't makes me sick. They are undermining our saftey and security. If Obama and congress continues down this path the US will fall like Rome.
It means that we base our economics on a wartime economy. With three wars going on we are tanking the economy and depleting our resources 8 X faster than we are making anything. It was the demise of Rome and it will go the same way for us.
Evidently, peace is not on the agenda.
It means that we desperately need term limits in this country!
Seems like most of them are so caught up in the game of American politics, that they have forgotten the entire reason for their job(s).
Did anyone else notice that the Democrats are the majority in the senate?
Jack, why don't you run for the Senate? I'm serious.
Its simple math. We are not taking in enough money to run an effective goverment. Goverment is obviously bloated, but cutting spending is only one tool in the toolbox. To refuse to look at raising taxes on the rich because of lofty tea party ideals is just irrisponsible. If Republicans really wanted the budget balanced and not just to play a petty political game they would look at every tool avalible to them.
It means that we will soon become the United states of China.
Any moron knows that spending 8 times what you bring in means collapse and bankruptcy. Congress is an “oxy-moron” with the emphasis placed on the latter!
My 4 year old son can add and subtract better than these politicians. They all need to take a basic class in math!
It means there was an extraordinary line-item expense that will not recur in future months....spending for 2011 will not approach 8x revenue (more like 1.7x), so this tidbit is very misleading for viewers. The size of the deficit is bad enough as it is, Mr. Cafferty only harms his own credibility by misusing "facts". We need to have an honest debate about the problem without distortions on either side. Very disappointing to see this kind of thing on CNN.
What is the source of your assertion that the Government spent 8 times more than it took in last month. That seems like a selective choice of statistics to make the situation look more drastic than it really is.
Come on Jack, lets me more honest. The Republicans want to cut items from the budget for ideological reasons, family planning, the EPA and National Public Radio. These are programs I support.. Why should the President support the Republicans attempt at shaping an ideological budgdet through holding the budget hostage? Let's be more honest Jack
We the people seem to want protection from terrorists here and over seas, want inspected food and drugs, want special services for young people and school children, want the government to prevent monopolies, want corporations prevented from destroying waterways and wilderness areas, want stable food prices and on and on.
And, in the great American tradition, we want it all for free.
What does this mean? It means that we have a country of selfish people.
It means this generation might be required to continue working in other to receive social security after retirement while a typical Capitalist plays golf, smokes his cigar on a typical Monday morning
It means they don't have a clue what is going on and they don't care!! Jack your comments today summed up exactly what is going on in all 3 branches of government–nothing but a blame game and trying to make the other side look bad. I thought the three branches of government were elected to work together for the American people but their attitude and actions are to work against the other party and we don't care if the American people are hurt or not.
The citizens of the US need to inflict an edict. New trade laws stating 80% of all products sold in US need to be manufactured in US.Our leaders both republican and democrat have and are selling us out for the monied monarchy.Enough of these clowns on capitol hill!
No one is minding the store and the US Government is shoplifting it until there's nothing left except the spoiled milk.
It means that fascism and a lack of term limits collectively suck. The country has been on a landslide of economic mismanagement and domestic neglect fueled by greed. for decades. Deregulation and the inability and failure of congress to get anything worthwhile accomplished is a direct symptom of the Reagen era. Unfair trade and soaring deficits are only the beginning.
What does it mean?
It means K-Street owns the government lock stock and barrel and not the public.
I lost my business due to the economy along with countless others. I went through all of my unemployment along with countless others. When will we get some intelligence in Washington? The American public is suffering, hurting and all these clowns are worried about is scoring political points. So their answer is – shut down the government. Oh that's right, that doesn't apply to them – they still will get a paychech, unlike countless others. Will they ever worry about anyone else other then themselves?
The Republicans think that by cutting taxes for the rich that it will improve the economy by creating jobs, I've heard that since the late 40's it didn't help a damn thing then or since and if the idiots that call themselves Republicans think it does then this country is in one damn sad shape. Why is it that when the Republicans are in office the rich get richer and the poor get the table scraps, has anyone noticed that we're gaining jobs now? After years of Republicans in office and losing thousands of jobs ever month. It damn sure doesn't take a rocket scientist to figure out that what the Republicans think is nothing more than a round-a-about way of helping out their lobbyist and wealthy friends get richer.
What about all the money we wasted and continue to wast in Iraq, Afghanistan and now Lybia? what about all the tax loopholes for corporations ( GE and Exxon paid no taxes last year) and all the tax cuts for the rich? Why does all the sacrifice have to come from average person? The coporate lobbyists have taken control of congress thanks to the rececent Supreme Court decision. I fear that things will have to get a lot worse before there will be any attempt at a solution.
My husband is a federal employee. He will be punished for the audacity of being employed by the federal government if it shuts down. As a result, his pay will be cut, (it's not THAT much), it will be hard to pay our bills. (Does this sound familiar?) We are tax payers, too, and don't want the government spending more than it takes in. But don't blame the federal employees for busting the budget. This is not the first time it's happened. But why is this not resolved six months after it should have been? Who runs either government or a business like this. Let's make the tough choices, but remember that people are hurting out there. Let's get this resolved.
It means that the Obama Administration is completely bogus and ineffectual. He has all the makings of a lame duck.
For decades now people have criticized the govt. pointing out that we, as individuals, are expected to balance our checkbooks or the bank fines us. Congress and the govt. get carte blanche. They give us a lot of lip service but politicians prove over and over again by their actions that they believe they are above rules and regulations, even above the law. Stuff like that is only for us lower peons. And in the end, whatever screwups they make, they know they can always make the taxpayers pay for it. Whether we like it or not. To answer your question: It means we don't matter except on that one day we step into the voting booth. The rest of the time, all we're good for is testing out the latest spin-doctor rhetoric.
It means that our wealthy elected officials live in a different economy than the one that they manage. It's amazing that they can even manage their own personal finances.
Jack, it means our elected goof balls on both sides enjoy playing power and word games more than doing the people's business of caring for our country. As for so many people working for the government, there aren't many other jobs to be had. All of our manufacturing is gone, as are most of our fishing industry. I was watching when both parties came on and blamed each other, I turn to another channel that had a cat litter commercial. I preferred the cat litter commercial as it contained the very stuff I heard on the prior channel. Don't even give those people air time, tell us when they come up with their final pitiful plan.
You or I couldn't run our homes like this, what this means is they are totally inept. It's time for them to take a 10% pay cut across the board, starting with the President on down. If someone mentions Social Security again I'll spit, they felt entitled to take MY money since 1962. I didn't tell them to squander it.
It means the government is completely out of control!!! Please shut it down so we can stop these people from spending. Our childrens future depends on it !!!
Jack – I was employed by USDA when the government shut down before. It was a known fact even then these so called "nonessential employees" were dead wood and the country could operate without them and taxpayers would never know the difference except in their pocketbooks. Shut it down now is what I say.
First, the U.S. Constitution (Article I) gives the responsibility of generating and spending tax dollars to the Congress – not the president.
Second, Bill Clinton left office in 2000 with a budget surplus-not a deficit.
Third, it is the two unfunded trillion dollar-plus wars in Afganistan and Iraq that have left this country bankrupt-not government employees.
Nice try, Jack, but no cigar.
Corporative America is at the root of the indebtiness of this country for loss of revenues to our government, taxes, job losses;. not to forget the banks for their "dirty"greed of money.
It means the top 2% continue to get irresponsible tax cuts while the deficit blossoms .
How these turkeys can do this while we continue to tax SS benefits , essentially cutting SS benefits as much as 25%, Republicans extend tax cuts for the ultra rich.
It means Republicans are only interested in taking care of their contributors, the ultra rich and smoking up the scene to dupe the rest of their supporters
Jack we got what we deserve. We the people put these morons in power so whos the bigger moron? And we are fixing to make the same mistake again. The same morons are getting ready for the Presidential Race and here we go with are bilnd ignorance putting these people in the same postion. I know God has more sense than this.
It means that more people are looking for a handout than giving the country a hand up. Everyone wants everyone ELSE to sacrifice. We have no leadership- where is a leader with the moral authority that can rally the country as FDR, Kennedy and Reagan did?
It is unfortunate most of us feel the same way. One would think Congress might get the message. Unfortunately, they have ALL been bought and paid for by Lobbyist. The Middle Class needs to wake up before we no longer exist. If not, we face the possibility of working for Global Economy wages, which are about $4.00 an hour. The Koch (sp?.. pronounced "Coke") brothers bought and paid for these Governors and Congressmen. Perhaps it is too late. I pray not.
It means its time to clean out DC and bring in Dave Ramsey, Suzie Orman, and Clark Howard for a couple years.
red from boxsprings ga.
these people in washington are supposed to be educated why are they so stupid to keep spending money we dont have and now that our dollar is at a all time low lets bring industry back to the u.s. and keep it here this time let the poor people run the country they conserve better than any college educated idiot
It means our spending is out of control. We need to cut up our credit cards and adhere to a budget we can afford and that will pay off our debt just like an individual would do.
Beware the ides of March. Obviously the government must take in more than is being spent. Incrementally taxing the most wealthy and closing corporate tax loopholes would come in like a lion but go out like a lamb. Yon Cassius has a lean and hungry look.
It means the only nation we should be building is our own. Over a decade spent in Afghanistan and Iraq, spinning our wheels and accomplishing little more than our own death of one-thousand cuts. Who's brilliant idea was it to invade the nation that single-handedly broke the fiscal back of the U.S.S.R? Now Libya? It's pretty obvious to me that being a nation who's chief export is war and imperialism isn't as profitable as our leaders believe.
What it means is simple: our government has been hijacked by a bunch of traitors who seem not only oblivious to what their spending is doing to our wonderful nation, but who lie, cheat, and steal in the process... we are on the cusp of financial meltdown and these bums can do no more than not even pass LAST year's budget and keep on spending like there's no tomorrow... Throw the bums OUT, along with every single law (sic) that they've passed in at least the past four years... what's happening us outrageous and inexcusable... As Charles de Gaulle observed: to become the master, the politician poses as our servant... Washington no more serves the American people than Stalin served the Russian people... WAKE UP, AMERICA!
it means the next generation should be ready to compose a their own anthem......O' Congress can you see what you've done to my life
It means –
1. Take the cap off social security and medicare. Everyone pays the same per centage no matter who you are, even the billionaires, and put it into a fund of its own, not the general fund.
2. Go back to the 1990's tax rates, and illiminate all tax loops and substidies.
3. Illiminate all pork, if it is important, like roads and bridges, put it into the budget.
We might find ourselves back in the black.
What does it mean, the groups that sold CDOS and derivatives should be in jail. They lead us to massive bailouts paying out 100% on the dollar and now they are driving up the price of gas trying to once again destroy our economy for their gain. This debt should go to the creators of the CDOs and the top 1% who have got tax breaks for the last several years.
Jack, What it means in good part is that we do not take in enough revenue. We have 10 years of unfunded wars during which we have continued to cut taxes on the wealthiest Americans, the ones who have most benefitted from this great country of ours. Then there are the corporations who pay zero taxes, the hedge fund managers whose income is taxed as a capital gain rather than regular income. All of these things are little discussed while the proposal before us seeks to balance the budget on the backs of those who are least able by cutting the social safety net for the poor and elderly.
I for one am embarrassed that it has come to this juncture.
what it means is that our government is run by a load of money grubbing capitalist hogs that refuse to open their eyes and do their jobs the RIGHT way. Most of our government woes, and this includes various state governments like the deadly NY State, need to take some hints to our most fiscally responsible and successful states, like New Hampshire for example. The government has grown adn grown and grown, while what it actually does FOR its people, has not really changed much. We play too many public relations games in other countries, worrying about how we look to everyone else, and dont open our eyes to our own citizens. We make it easier for people to come in from other countries and take advantage of us, than it is for our own people to leave here or to get help when they need it. I'm not big on people taking advantage of public assistance, but it is a necessity and it's not done right by any means. There are a lot of services our government does need to provide, but they don't provide them or they dont do so responsibly. Instead they blow far far far too much on their own paychecks and special interest campaign contributor's interests. This country is on a danger dangerous road in recent years, but it didnt just begin, it's been headed that way for a couple decades. Our legislators need to stop taking hints from the failing states of the nation as it seems to be, and start looking at the ones that are doing things right. They won't because those states dont have all the fat in their governments, they dont tax the life out of their constituents, and they stick very closely to how this nation was founded as far as what was done correctly to start with, while being progressive enough to address the concerns of modern day needs. We are a capitalist nation, but the problem is that our government has strayed so far from democracy or democratic republicism, that it has literally made capitalism into its very own form of government. It is no longer of the people by the people for the people, it is of the rich, by the rish, and for the rich, exclusively. Anything else is simply lies to look good in the newspapers, and at this point even those feeble attempts are failing miserably.
Santa Fe, New Mexico
Two and one half wars cost trillions. A Defense Department that substitutes for a public works program adds billions. Bush tax cuts should be eliminated across the board, and higher brackets should get a minimum 3% add-on to the resultant tax table. Capital gains tax could be raised 5% with no effect on investment. Those who say otherwise have forgotten what it used to be. Bottom line is the government needs to increase its income and reduce its expenditures, but not on the backs of working people.
it means its time to fire the government! this country is sad and pathetic. everytime i hear something like that i because alittle more disgusted to be an american. lets stop the wars,lets stop sending money outside our country and lets get our house in order! it also means obama is a miserable excuse for our president and 1/2013 can't come soon enough!
How long would you be able to go to the grocery store and buy gas for your car if you spent 8 times your income in a month??
And do you think large corporations approve their budgets in arrears?
...but we keep these idiots in office. Enough said.
It proves that Obama and the Democrat Party need to go and the media over all needs to fess up to the lies they've been telling the people. This massive spending has been a trademark of the Obama Administration since the beginning despite the Democrats criticism of Bush for spending too much money. The biggest deficit Bush ever ran was $368 Billion which was bad but Obama's deficit of $3.7 Trillion is ghastly. When Obama is spending over $3 Trillion dollars each year for the Democrats to say they can only find $4 billion dollars to cut is ludacris. When Michael Moore says take all of the money from the richest 400 Americans, this would be $2.7 Trillion dollars, not enough to run the Obama government for one year but would put millions of people out of work. Paul Ryan's budget is our only hope right now.
The notion that government is spending eight times as much as it took in is not too different from the way that we spend money as a country. We spend more than we make. The real problem here is that we refuse to believe that we did this to ourselves. We continue to elect these clowns ( both sides) and then we get upset when they do their job badly or not at all. Even when we lose our collective minds and elect people that promise to "change" things even though we know that there really isn't much measurable change time and time again.
Jack: Counter question – what does it mean when we allow big corporations such as GE to pay -0- in tax, what does it mean when we ship our jobs overseas, what does it mean when we give tax credits to the rich – this is a big reason why we are broke. Low income and no income people don't pay much in tax and big corporate American pays -0- so this equals low income for the FED. Create real jobs (not McJobs), make big corps pay taxes, remove pensions from the idiots in congress (they can go on a 401k plan with a match if they preform well and reduce the deficit). If we did that, we would be on our way to control. Just a thought! Thanks, Mary
It means living on borrowed means is now a permanent way of life, as long as the rich get their tax cuts, corporations are ready to lie, deceive and pay, to protect their interests. Which means that some group of people are enriching themselves at the shameless expense of a drawn-out, national budget deficits. No one is yet ready to punish those who oversaw our economy collapse, and are still snatching houses from average Americans, causing more poverty and economic debacle, like bank of America and Chase.
The federal government can not work if the people in congress has head bigger then the national debt.
the senate and representatives used the social security trust fun to balance the budget for over 20 years. They must make a decisioon on how to solve this problem. Now it is national problem.
This is not a democratic or republican problem. they hey both caused it.
Do not put it on the backs of the baby boomers but the people who really caused the problem. pay back the trust fund. We cannot afford to take any more deductions. oH, by the way, I am neither a Democrat or Republican. Ii am really for the middle class.
God bless American
It means politicians in Washington have led the American people to the point of no return. They get elected, choose sides and play games like its the Super Bowl or World Series. Winning is all that matters to them so they can run the race again and start all over..
It means since we are viewed as the world's police force to many... why don't we conduct ourselves as such?
Why do we foot the bill for the entire world at the expense of our own people? All these countries we go into to save from some invader or from some other threat... those countries should be paying us to come do so. Perfect example... Kuwait is invaded by Iraq. So what do we do? We go in and retake their country for them and we foot the entire bill, sacrifice OUR lives and our economy. When it's all done the USA is left with dead soldiers, a huge bill for all the expense to free someone else's country and the obscenely rich oil sheiks and Kings go back to their golden thrones none the worse. Kuwait should have footed the entire bill and also paid the US for services rendered! Oh and by the way they turn around and charge the USA even more for oil after we went in and saved their country for them. If not for the USA they would no longer have a country.
South Korea wants us there as an ally and as a deterrent towards North Korea and China. So why do we pay their government to be there? We pay the South Korean government to have the military bases we have there. They should be paying us to protect them which is basically what we are doing there. We provide countries deterrence and have to pay for every penny of it.
Name any other police force that works for free and finances its own actions on behalf of the entire world.
Tucson, AZ – It means that too many members of Congress have not been doing their math homework. Revenues are too low for the level of expenditure, expenditure is too high for the level of revenue. The government gives away huge sums of money for myriad purposes and employs too few civil servants to really assure food safety, mine safety, oil well safety, or air safety. The very largest fortunes and corporations pay virtually nothing in Federal taxes. The middle class is being squeezed out of existence by a tax code that pays the rich and favors the export of jobs. It is not because government has grown so much that it employs so many more than manufacturing – it is that the smaller sectors have shrunk. The bulk of government employment is State and local, anyway, not Federal. The shutdown will not be because a budget has not passed, but because a debt ceiling has been reached and operations further are not authorized. However, whatever the risks inherent in the current eight to one ratio, if the "shutdown" reaches the stopping of interest payments on the national debt, the dollar will collapse. You cannot afford to shut down this government any more than you can afford to stop a jet airplane in mid-flight. There are hundreds of billions of potential savings that neither Party has put forward – lets cut the big stuff first, shall we, and keep the non-fiscal regulatory issues out of it. MAKE A DEAL!
Jack, no wonder we are spending more then we take in after 10 years of tax cuts for the rich and corporations who are making a killing during a recession as they move their operations over seas so they don't have to pay their corporate taxes in the United States. Let's see, two unpaid wars started by a Republican President, fraudelant behavior on Wall Street that brought the country to it's knees, an unpaid for drug benefit, and on and on. You're looking in the wrong place Jack for your outrage. Now we are going to dismantle all that makes us a great nation.
It means that the wealthy are not paying their fair share in taxes.
To run their businesses, the rich depend on an infastructure that works: bridges that don't collapse. pipe lines that don't explode, an educational system that adequately prepares future employees, a transportation system that allows for the free flow of goods and services, etc.
Any Republican who disagrees should have his head examined.
This can happen and they will identify the problem. It is Federal Identity Theft. This will become known as "FIT". Some evil force is making them spend, and spend, and spend until the country must eat cake (in the form of pizza). But you are referring to inside the beltway, and we out here got "troubles in our own River City" and it ain't the pool halls !
Does anyone know how much it costs the taxpayers to support one senator or house of representative and their respective office staff. How much their insurance plans and pension plans cost to us?
Well Jack I wouldnt be writing this because I would be behind bars for writing non-sufficient checks. Maybe we should check ALL the back pockets and purses of the legislators to see how much money they are getting from special interest groups. I would be willing to wager we could make a big dent in the deficency if we could confiscate that money.
Watching Harry Reid Live on CNN speaking to all the empty chairs in the Senate chamber a few moments ago says it all. The Senate and the Congress are out to lunch and could care less about their duties(with too few exceptions).
Is the an impeachment process for Congressmen ?
It means that the system is broken. No one in the government wants to get serious because the dems dont want to cut spending because they want to get reelected and the republicans dont want to raise taxes in fear of not getting elected.
The solution is both. Fix the tax system and loop holes that allow large corporations to get away with paying nothing but on a global scale they must fair and reasonable. If we simply raise the taxes on the rich to make and make up the 1.4 trillion we need to balance the budget for this year America would instantly become the worst country in the world to have a business in. We also need to cut spending on a huge scale. Paul Ryan and the other guys in the budget committee are the only ones who have come up with a plan to save the county. Kudos to them.
And... Obama is raising $1,000,000,000 to be re-elected? this is OBSCENE!!! and u and I know that his focus during the last 18 months of his first term dwell be re-election... What would happen to your job, jack, if you spent the next 18 months neglecting your job and quite openly went job-hunting at other networks? Our current system is unbelievable and, as history has proven over and over again, unsustainable...
We need to bring back Gram Rudman to balance the budget. We should push for a bill that fines each Congressman and Senator $1000.00 per day for every day past the October due date they don't pass a budget. Congressional wallets never suffer from their mistakes or negligence.
It means we should have term limits. Just look how the 87 freshmen in the House have approached the issues. If we had more like them we wouldn't be in the mess we're in.
It Means Get RID of the Unconstitutional Privately Owned Federal Reserve (like Abe Lincoln did once already), It Means...GET RID of the unconstitutional IRS that did not exist before WWII. It means GO BACK to the Constitutional money system we had before Both of these systems were again put in place. The founding fathers got rid of the international bankers and their "system". Abe Lincoln Got rid of them, and we had the greatest 70 year stretch of growth the nation ever saw. Who ever gave anyone in Washington the idea that it was Constitutional to BORROW MONEY from ANYONE.... to Run the United States?
It means that we all have to stop applying the concept of "not in my backyard" to fixing the national dept. All of us are for cutting government spending unless it is government spending that benefits us – the politicians know that and are afraid to make serious proposals because they will pay a political price.
The Republicans have proposed serious adult budget cuts and they will pay the political price.
I am apalled that the payment for our Military might be delayed or deferred if the Federal Budget extension is not forthcoming. What should be done is stop pay for Whitehouse Employees(including our President) along with every member of Congress. This should include all benefits, such as Healthcare and retirement benefits. They need to get the message that We The People are tired and angry with their retoric and their conviction that they know better as to what we need than we do. We are "Ripe for Revolution".
Too much posturing and no-speak in Congress. It is totally unacceptable that individuals WE ELECT cannot figure out a path for our, the USA, to resolve any situation. Are we to become the next international crisis because citizens are " peeved"?
It means the US Government didn't take in enough revenue! WHY? Because the wealthiest of us, and the corporations of America have been given a TAX BREAK! WHY? Because our "elected Officials" owe them for their generous campaign contributions. WHY? Because the Supreme Court has ruled corporations have the same rights as voting Americans. WHY? Because the wealthy-right wing (say Koch Bros etal) have been working on the Supreme Court for years!
The simplicity of your question is astounding. Should we offshore our government to a low cost labor country similar to what has happened to our manufacturing sector ? Hey wait, that's not a bad idea, matching the collective worth of the Tea Party party program with the cost of a single tea bag.
Jack: our $14 trillion national debt is terrible, but most of that is not due to too much spending, it’s from the Reagan/Bush II tax cuts. Reagan inhered a national debt of less than
$1 trillion, but by the end of the George W. Bush Presidency it had soared to about $10.5 trillion. It would have been more, except for President Clinton’s budget surplus.
Thus, even when allowing for inflation, at least $8 trillion of our debt is due to the irresponsible tax cuts of Presidents Reagan and G.W Bush!
It means that our end is near. In my freshman year at Washington and Lee University, Dr. James G. Leyburn spoke to all of us freshmen. He quoted in part Historian Arnold Toynbee and said (I'm paraphrasing) "there have been 23 distinct civilizations in the world. All have failed. Ours being the 23rd, why wouldn't it fail as well?"
It is failing faster and faster.
I don't believe it will take until 2037, when I will be 100. It is geometric progression. Our government is corrupt through and through with no efforts to staighten out our country. Our legislators are only in office to strenghten their personal portfolios.
It is inevitable that we will fall, and very soon.
Even 1.7x is troubling, But 8X, on what? If 1.7x that is honest and typical then in is still unsettling. that would be like me spending almost twice of what i make. What extraordinary line item expense? Libya?
In a nut shell,
TOO MANY HOGS AT THE TROUGH!!
It's time to make some bacon!!!
We need to take back our government america, NOW
Thank you Jack for the opportunity.
Jack, I think its about time the fat cats in congress start at the top with spending cuts and cut their salaries by $100,000.00, but no they have to take it out on the people of the USA. They spent 8 times more than they took in in March. Why don,t you try writing a check like that an see what happens to you. (jail) I think that is where our congress belongs in jail for letting this happen. Our Gov.should be helping the people in America, we pay for it. When we can help ourselves again then we can help others around the world. Bob in Fl. P.S. Its about time congress has a time limit on holding office, 4 years without retirement
Oh Jack, your smart enough to know what needs to happen just as most of us do. But will those that the Giant Corporations, Rich People and secrete Rich Donors put into office know what to do! My take on this that the Giant Corporations, Rich People and secrete Rich Donors pay Taxes just like you and I and most of American people. Time to stand up for the Voters instead of the money that was given to them. It is time they all Grow Up and act like Adults.
To much to ask I guess when my 3 year old Granddaughter acts more mature then most in Washington who claim they are our leaders. She is hell of a lot smarter then they are also.
It means that the U.S. Government doesn't have their listening ears on. Wasn't a report done by prominent business leaders on what the government needs to do to get spending under control? What happened to implementing those recommendations? Why are companies that make billions of dollars getting out of paying taxes?
First of all, let's make sure that we do not introduce party biases into the equation. BOTH parties are equally guilty. NEITHER ONE OF THEM understands that we should not be spending more money that is coming in (a problem that exists even in state government). I realize that the government always has the ability to tax but is it morally right when everyone else has to restrict themselves to a budget? It should be an option to be used only in severe emergencies.
Part of the problem is that there is an inherent problem in the budget management system. In private industry, increased profit is the goal. Managers try to limit operating cost to be able to show a lucrative profit/loss statement. There is no encouragement in government. In the federal government, managers try to spend every penny they get otherwise they would get less money the next fiscal year – negative reinforcement. There is no true accountability. At budget time, managers come up with a "wish list" for the budget instead of actual budgetary requirements.
Don't be fooled by the number of individuals working for the federal government. It is not a good measurement. Some agencies contract out the labor because they are restricted as to the staff they can have but it turns out to be more expensive. The contractor would only do the job for a profit so the government ends up paying for the actual cost of the job PLUS a profit. If the government were to do the job, it would not have to worry about a profit.
It means that the time has come to get out of IRAQ and Afghanstan. Close loopholes and make corrupt and gready corporates pay Taxes. Cut DoD budget. Stop squeezing the middle class. and I may add, shame on Republicans who is now coming after the poor and elderly i.e. headstart programs, medicare, and SSN. How sad!!!!!
What it means, Jack, is that you in the media and the Republicans have a selective blindness—you never tell the whole story—the part about how the 2% don’t want to chip in pay the bills—like for foodstamps and veteran’s benefits—or about the massive shift of America’s wealth by Republicans over the past 30 years—and that 400 persons currently hold more of America’s wealth than 150 million of the rest of us—and how the siphoning of our wealth from the consuming middle sent our economy over a cliff in 2008! Just the facts, Jack–
It means that this country’s leaders in congress and in the Whitehouse have no concept of how to spend responsibly. This isn't a sudden problem. Mounting debt as well as a spending ideology is consistently passed on from administration to administration whether it is republican or democrat.
It has been getting progressively worse every year, American citizens, as well as the rest of the world can clearly see this. Someone will eventually have to deal with this problem and only hope the next administration in line for the Whitehouse will continue with some sort of responsible spending.
No one person is responsible for this debt. Make someone take some long term responsibility and watch how things change.
It means these tax breaks for the rich so they can create jobs hasn't worked. It was a farce to allow for the concentration of wealth. It means that large corporations that pay no taxes and take government incentives are anti-American and, quite frankly common thieves that should be ashamed of themselves, and prosecuted to the fullest. It will come to a head. Look around at Egypt, Tunisia, Wisconsin and Ohio. People are getting fed-up. In the immortal words of Gil Scott Heron, "The revolution will not be televised! It will be live!"
It means that Tytler / Tocqueville were right. "The American Republic will endure, until politicians realize they can bribe the people with their own money."
You pointed out that that the US government employs more people than manufacturing, mining, fishing, etc but you failed to mention how many people's jobs are indirectly linked to the Federal Government purchases. The government can't stop over-spending or a large portion of the American economy will collapse. If you work in the defense, communication, medical, security, or construction industries the government is your largest client ...or your largest competitors largest client.
Chuckrts, what is means is you are lying. here are the facts on taxes.
Top 1% of income earners pay............................38% of all income taxes
Top 5% of income earners pay............................59% of all income taxes
Top 10% of " " ............................ 70% of all taxes
Top 50% of income earners pay..........................97% ' " "
Bottom 50%.............................................................3% of all income taxes
The United States has the HIGHEST Corporate taxes of ANY industrialized Nation. The problem with Corporate taxes is they are passed on to the consumer in higher prices so it just costs us more. This is the number one reason for Companies moving overseas. They can't compete with higher prices caused from high taxes.
Simply put? It means we live in a Corporatacracy and no amount of voting is going to change that. Yes, that is what I am implying....
The situation is alarming. In the long run it means that the next generation of Americans will have alot on thier plate. Alot of changes are needed, and fast. The tax issue is not as bad as it's made out to be, although I do agree with another person on here... Quote "The argument of the corporations paying less taxes to create jobs doesn't wash. If you give any rich person a $10,000 or more in tax breaks, he/she is going on vacation or shopping. They are not going to create a job." I think that govt. projects need to be scaled back and handed over to private U.S. companies(especially infrastructure; Our country is falling apart), STOP outsourcing; all it's doing is making other countries(like China) money and jobs that we need, and depend a little more on American oil which may cut back on useless wars. I believe that our country needs to try to get young Americans interested in politics because they are the ones voting.
It means that we have to reduce employment costs in the government just lke industry does when there is a red bottom line. I would like to know how much money is spent on government employees and their dependents, including salaries, retirement, health care and other benefits. It seems to me that it would be a considerable amount of the federal budget that we can no longer afford.
Just like the energy problem in this country, reduce the consumption
and increase the efficiency (ie fewer workers who are
more productive and less costly) and stop using the taxpayers as the endless supply of money.
What does it mean when the majority of Americans don't look at the facts but believe a bunch of lies made up by politicians who want to divide American and make you mad at people who have more than you do.
This is a very sad statement for the people of America and for our future. We are doomed.
Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV.
About Jack Cafferty
Subscribe | Send Feedback