President Obama pointed out that the economy did not recover as quickly as it could have; following a decade of flat-lining incomes that began to occur prior to the recession. He restated one of his regular comments that the country's problems had not began overnight and would not be solved overnight. Then, he added that we must ask ourselves, "Where do we want to go?"
As a short term solution, the President reminded the audience that
he had been asking Congress to pass proposals that would give an immediate boost to the lack of jobs problem as well as to the economy. Included in these proposals are means for extending tax relief, providing more opportunities for construction workers who lost jobs during the housing fallout, rebuilding our infrastructure, and cutting red tape that prevents entrepreneurs from turning ideas into businesses. The President also said that he was seeking trade deals that would stamp made in America on products sold in the United States as well as abroad.
Over the long term, said the President, he believes strength of country will depend on what we do right now. Everything boils down to our current actions which are not [or at least should not be] that complicated. For a decade, we've been spending more money than we have been taking in. Last time the budget was balanced was under former President Clinton; and that the last administration's cutting taxes, allotting unpaid for drug benefits, as well as involvement in three wars, all attributed to the accumulated debt problem. Whether or not wars or the recovery act, and other contributors to the debt ever should have happened, added the President, they all cost money and need to be paid for.
The President said there is no way around the fact that America simply has too much debt on our credit card; and that although neither party was (singly) to blame, both parties have a responsibility to solve the problem. That unsolved, this dilemma would leave every American suffering, rising interest rates, and so forth. That we would not have enough money to pay for things such as clean energy, et cetera; and that saying we are not going to raise the debt ceiling is the same as saying we are not going to pay our bills. That this is not the way of the United States because we pay our bills. In furtherance, the President noted that the financial problem the country is undergoing is not a crisis that was manufactured in Washington; and that we need to put a stop to (over) spending.
In working toward the balanced approach needed to solve our debt and deficit problems, the President said he is willing to cut domestic programs, defense spending, and the rising cost of Medicare and Medicaid so that these programs will continue to be available for the next generation. He said that he has agreed to make cuts in programs his party is not happy about. That, like a family, we need to tighten our belts and that we cannot reduce the deficit with spending cuts alone. Revenue must be part of the package or everyday people and the country as a whole will suffer. The wealthiest Americans and large corporations should do their part as well as every one else.
The President suggested that instead of defunding clean energy programs, corporations should be asked to give more... That hedge funds should stop receiving tax rates that are lower than what their secretaries pay... That rather than asking seniors to suffer with reduced incomes, to let persons such as himself give up tax breaks they never asked for and do not truly need.
The President said he is not seeking to punish the wealthy - that he was only asking those who have benefited the most to share in the sacrifice. That higher income persons would be willing to share in the sacrifice if asked to do so because they know the less well off should not be asked to take on the country's financial burden all on their own.
The President said that the debt ceiling has been raised from the presidencies of Ronald Reagan to Bill Clinton [not to mention W. Bush] and that it was easy for today's politicians (particularly Tea party Republicans) to ask for a lot while expecting not to give much in return. President Obama went on to say that we can do things in a way that will work toward solving problems for everyone; and that he intends to make Washington meet its responsibilities in the coming days.
Following the meeting, Speaker John Boehner made his usual statement that they (Republicans) were trying to solve the country's problems by improving the economy and creating jobs.
My Take.... President Obama tried to sound convincing in addressing the Big 3 - Social Security, Medical, and Medicaid - during his attempt to stress why ALL Americans need to share in the sacrifice and why a balanced approach is necessary to solve the nation's debt problems. All the same, however, word has it that the 'so-called' balanced approach might be destined to occur 'some time in the future' - that is - from the Republican side of this enormous quandary.
What does this mean?
First off... Social Security, Medical, and Medicaid should not be considered during these negotiations. They should not be 'on the table' (as the phrase goes) during any type of deficit or debt ceiling discussions. With that said, however, if it turns out that mandates included in the President's health care program could easily provide aid that would make up for a loss in Medical and Medicaid benefits, then it may be reasonable to include these two entitlements in budget talks. Social Security, on the other hand, should not be included - period! Social Security is a program that stands on its own two feet and has absolutely nothing to do with the debt. Therefore, policies that would work toward improving Social Security, a program in which working Americans pay to support with each and every one of their paychecks, should occur during discussions aimed only at Social Security. Improvements should include the monitoring and implementation of the program only - no cuts to benefits! In furtherance, talks about allotting Social Securities in reduced amounts as the elderly get older make absolutely no sense at all! As people age... they will likely need more help not less help!
Second off... Delaying tax cuts for the rich and ridiculously wealthy would be catastrophic! both in policy as well as in the ability to help the country economically right now! The Bush tax cuts never should have been extended in the first place back when the President agreed to their extension in exchange for prolonging unemployment benefits for the unemployed. Sorry to say, but it is of my opinion, and I am not alone, that President Obama should have let those unemployed suffer along with everyone else. Those tax cuts that he extended represented money that could have gone into the system and become available to aid the broken economy at least two years sooner. This would have been country wide... Not simply for a couple hands full of unemployed. These monies could have helped to create jobs that would have put some of these unemployed back to work. Most people would rather work for their pay than sit at home taking handouts! Furthermore... He would only be kicking the can down the road, something he said he would not do, by playing the Republican Tea Party's game again!
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