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President Obama Debt Panel Delays Final Vote


Our goal has been really simple: to start an adult conversation in Washington about the dangers of this debt.” Erskine Bowles said noting that no change will be easy.

In the Bowles-Simpson plan, they would reduce nearly $4 trillion from deficits over the next decade. The plan found ways to trim $200 billion from domestic and defense spending in 2015.

They also proffered changes to Social Security, to make it solvent for the next 75 years and recommended that taxes and spending be capped at 21% of the size of the economy.

He said a main feature of the plan is that it eliminates what he called “tax earmarks,” essentially expenditures in the tax code that amount to $1.1 trillion a year. “Tax earmarks are spending by another name, and they just drain America,” Simpson said, adding that it is now “sober-up time” for the companies that have benefited from them over the years.

This sounds like a great political speech, trim $4 trillion here and $200 billion there without actually showing a line-item draft of how you’re going to achieve this monumental task.

As I understand it, the new house has already expressed their displeasure in the plan proposing to take away their “tax earmarks.” That’s part of our perks! We won’t stand for it! Take another look at Social Security, Medicaid /Medicare; look at the Homeowners’ Tax Deductions,(they don’t need that!), tell them they need to sacrifice. Surely we can cut more from defense spending, anything, but keep our earmarks in place! Got It!!!I’ve got to take something back to my state to give to my supporters (all the companies that financed my campaign heavily) and I’ve got to appear to be working on behalf of all those good folks who put their trust in me. I need my earmarks! Got it?

Since the new government prides itself in being transparent, I would like to be able to go to a website to see the draft in its entirety of the proposed cuts. This is far too important and life changing to thumb through and randomly select easy program targets that you hope would get the least resistance from the general population.

This plan is too critical to the lives of the Americans to play along to get along. Every policy maker involved must inspect every single item that is up for consideration. Your constituents expect and deserve nothing less.

There will be thinkers, not just followers, who will be monitoring your every decision to determine if this plan and the plans in the future are indeed in the best interest of the people. Thinkers do not give credence to any political persuasion but rather is always focused on the best interest of the people, much like the role of the “Guardian ad litem” with respect to children.

Regardless of how many of the commission’s 18 member’s sign on the final report, “We won and we won big,” Bowles said at a press conference Tuesday. My question is at what cause to the public? Will these decisions and changes affect the powers-at-be at the same magnitude that it will affect the public? I find it’s much easier for the executives to make cuts when they’re not directly affected and have no vested interest in its outcome.

I propose that you delay the final vote for a period of two weeks to allow more inspection of the entire plan, since its outcome will affect the country for years to come.

Whatever you do! Make sure that this is the legacy that you, personally, can live with and still be able to look at yourself in the mirror the next day and not drop your head in shame.

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December 1, 2010 - Posted by | Business News | , , , , , , , ,

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