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<blockquote data-quote="unionman" data-source="post: 679415" data-attributes="member: 21107">Re: Obamanation here today&nbsp;Democrats and Republicans alike share responsibility for running up the debt, but it falls upon Democrats to pass the measure since they control the government. It makes no difference that Republicans routinely backed increases in the debt when former President George W. Bush was in office.Republicans blame recent generous spending bills enacted by the Democratic-controlled Congress for driving up the debt. Those measures, however, are just one relatively small part of the problem. The far bigger element is a sharp drop-off in tax revenues because of the recession and the economy’s slow recovery, as well as higher costs, since more people are taking unemployment benefits and food stamps in tough times.As part of the debt ceiling bill, the Senate will also vote on new budget rules that would make Congress cover any increases in government benefits with either a corresponding tax increase, spending cuts elsewhere or a combination of the two. The same would apply for new tax cuts, such as the tax credit Obama proposed Wednesday night for small businesses that hire more workers. The tax cuts would have to be “paid” for with corresponding spending cuts or increases in other taxes.Senate Majority Leader Harry Reid, D-Nev., whose own re-election is in danger this fall, reversed course and came out in support of the new rules after moderate “Blue Dog” Democrats in the House insisted on them as condition for passing a new $14.3 trillion debt ceiling.</blockquote>

[QUOTE="unionman, post: 679415, member: 21107"] [b]Re: Obamanation here today[/b] Democrats and Republicans alike share responsibility for running up the debt, but it falls upon Democrats to pass the measure since they control the government. It makes no difference that Republicans routinely backed increases in the debt when former President George W. Bush was in office. Republicans blame recent generous spending bills enacted by the Democratic-controlled Congress for driving up the debt. Those measures, however, are just one relatively small part of the problem. The far bigger element is a sharp drop-off in tax revenues because of the recession and the [COLOR=#990033]economy[/COLOR]’s slow recovery, as well as higher costs, since more people are taking unemployment [COLOR=#990033]benefits[/COLOR] and food stamps in tough times. As part of the debt ceiling bill, the Senate will also vote on new budget rules that would make Congress cover any increases in government benefits with either a corresponding tax increase, spending cuts elsewhere or a combination of the two. The same would apply for new tax cuts, such as the tax credit Obama proposed Wednesday night for small businesses that hire more workers. The tax cuts would have to be “paid” for with corresponding spending cuts or increases in other taxes. Senate Majority Leader Harry Reid, D-Nev., whose own re-election is in danger this fall, reversed course and came out in support of the new rules after moderate “Blue Dog” Democrats in the House insisted on them as condition for passing a new $14.3 trillion debt ceiling. [/QUOTE]

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