Do you think we can fix the current fiscal situation?

We have the means to do it, but do the free spending politicians have the will to do it? They're all so afraid of getting voted out of office if they vote to make actual cuts, they may not have the political will to take steps to get spending under control. They're not spending like drunken sailors though, at least drunken sailors only spend their own money.

This whole debt-ceiling debate came at a VERY VERY bad time...

I hold that although raising taxes may not be good during bad economic times - cutting government spending IS ALSO bad... because essentially they are the same - taxes however have a more immediate effect so they are more attention-getting to the public.

Still - a balanced way of tackling this problem involves a slow phasing out of certain government programs (yes we do need to cut spending) - but we also need a source of revenue - either we do taxes or we de-privatize some things (and make them government revenue generating things). The latter would be socialism (and that won't gain support at all) - so the only way to go is the former (more taxes)...

Either way - S&P thinks taxes should go up - most economists think taxes should go up - we need revenue - its the only way.

From an economic and political standpoint both - its a very ugly problem - and the only solutions to it are going to be ugly and unpleasant - but so is going to the dentist... America is overdue for its annual dental checkup - and it needs a root canal (which sucks - but is necessary).

Either way - we shall see... I hope we can come up with a viable solution.

http://www.prnewswire.com/news-releases/the-mack-p...

Balances the budget by:

* Cutting total federal spending (not base line spending) by one percent each year for six consecutive years,

* Setting an overall spending cap of 18 percent of gross domestic product in 2018, and

* Reducing overall spending by $7.5 trillion over 10 years

* It would only require an additional $1 trillion in additional borrowing power, current budget requires an additional $8 trillion over the next decade.

Considering federal spending was increased 28% in the last two years 1% a year for six years isn't that much.

I could give a go at it. If i was in power in any sort of way, i would want to pass a budget plan that would cut spending and increase taxes across the spectrum.

You could tax the entire nation at 100% and you still couldn't repair our debt situation. Its mathematically impossible. A correction will happen and since the government has decided to keep printing money rather than take the medicine and make the necessary cuts, we're all going to be poorer thanks to the coming inflation.

With responsible leadership, anything is possible.

Not with 0bummer in office.