Europe's killer debt
NY Times:
Since the 1980's Democrats have squandered their credibility on spending cut agreements and therefore, can not get a bipartisan tax increase through Congress. Typically they blame this on Republicans, but the reason the tax pledge has become important to GOP candidates is that Republican voters do not trust Democrats to really cut spending and Obama is doing what he can to validate that belief.
If Democrats do not get serious about dealing with the spending problem, we can expect to see similar problems crop up here.
It is a very predictable crisis for this country, but Democrats are unwilling to address the chief drivers of the debt crisis. Instead of dealing with entitlements head on, they are inflating the economy and changing the COLA rules to make the entitlements worth less while going for tax gimmicks that do nothing of consequence to deal with the real problem.Suicides ‘by Economic Crisis’ Worry Europe
In countries hardest hit by the downturn, small-business men and entrepreneurs are taking their own lives.
Since the 1980's Democrats have squandered their credibility on spending cut agreements and therefore, can not get a bipartisan tax increase through Congress. Typically they blame this on Republicans, but the reason the tax pledge has become important to GOP candidates is that Republican voters do not trust Democrats to really cut spending and Obama is doing what he can to validate that belief.
If Democrats do not get serious about dealing with the spending problem, we can expect to see similar problems crop up here.
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