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News Commentary

Some of our past commentary articles.

Commentary: Nation's Debt Ceiling Limit Increase



The Nation's Leader Obama, will present a news conference Friday July 15th, to deal with the status of discussions to improve the country's debt ceiling.

It will be the president's second news conference on the subject which has consumed official Washington and be among the greatest preoccupations of Obama's presidency. The debt ceiling is assigned at $14.3 trillion and also the administration states that if it's not elevated by August. 2 the federal government would default on its obligations.

Not only will the US default on its obligations, it will also have a large impact on the financial decisions we make. It will be hard to get a loan, buy a house with increased interest rates. It will also increase the amount we all pay for products and services.

The President is asking for a small increase on taxes for the people making more than $200,000 a year. The GOP rejects this option, citing it will "kill jobs". What jobs? If we don't have enough jobs now, we are not going to have jobs with an increase in taxes. What is happening right now is not helping. We need to take different steps and make a new plan. Tax increases are inevitable. Everything is going to cost more in the future. As populations increase all over the world, demand for food and energy will skyrocket. It is just the way the world is becoming. If we make small tax increases now, it will save us all money in the long run.

The more money a person or business makes, they should pay more in tax percentages than those making much less or some making nothing at all with unemployment rates so high for so long. Tax brackets are the most fair way in getting much needed revenue into the system. The GOP, is watching out for the rich, stalling on the deal, and embarrassing the country. The whole world is watching and waiting to see how all this unfolds. By not raising taxes at this time is going to have very bad effects, later on. Bill Gates and Warren Buffet have no problems in paying more taxes. They are the most generous in charities. Why? "What goes around, comes around." They are well off, because the give a lot back to the world. It is that simple.

This tax increase is so small. There are companies making huge profits due to the recent layoffs. Google just announced 9 billion dollar profit in the second quarter. Now that says a lot.

We are America. We need to do what is right. We need to do this debt ceiling deal today.


Related Bing News Search Results

Commentary: Nation's Debt Ceiling Limit Increase - Newscast

Congress is on the clock to raise the debt ceiling to avoid default

Fri, 28 Mar 2025 14:19:00 GMT The consequences of failing to raise the debt ceiling are astronomical and could cause the government to miss payments on its debt once it runs out of funds through the “extraordinary measures” ...

GOP lawmakers’ budget framework will raise debt limit, pass Trump border, energy and tax bill all before June

Fri, 28 Mar 2025 11:20:27 GMT A House GOP aide told The Post that the “target cuts” for both chambers of Congress will be reconciled — with at least $1.5 trillion or more in the total reduction to government ...

Senate Republicans warm to hiking the debt limit in their sweeping party-line bill

Wed, 26 Mar 2025 12:33:00 GMT WASHINGTON — Senate Republicans are warming to the idea of including a debt ceiling increase in their ... that he’s now open to raising the debt limit in a broader spending package, according ...

US could run short of money to pay its bills by August without a debt limit deal, CBO says

Wed, 26 Mar 2025 11:57:00 GMT The nation has been through several protracted debt ceiling fights between congressional Democrats and Republicans, including in 2011 and in 2023 when lawmakers suspended the debt limit through ...

US could run short of money to pay its bills by August without a debt limit deal, CBO says

Wed, 26 Mar 2025 07:41:21 GMT The United States is on track to hit its statutory debt ceiling — the so-called X-date when the country runs short of money to pay its bills— as early as August without a deal between lawmakers and ...
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