In this Article, Obama gives suggestions to what should be done in terms of government spending and tax reforms. He talks about how the economy is beginning to recover but more and more disputes over spending cuts and taxes threaten to delay or alter the improvement.
"President Obama on Tuesday called on lawmakers to quickly pass a new package of limited spending cuts that can head off the automatic, across-the-board reductions that are set to take effect on March 1."
“They should at least pass a smaller package of spending cuts and tax reforms” to put off the automatic cuts, Mr. Obama said Tuesday, adding that there is no reason to put at risk “the jobs of thousands of Americans.”
What do you guys think? Do you agree with Obama or do you have another solution?
Cuts to specific functions of government is a lot more proactive, than across the board cuts to everything. With this, our government can focus in on our 'spending problem' in areas that are the most dire, and frivolous in their nature.
ReplyDeleteI don't believe anyone wants to see the actual sequestration take place. It was most likely set as a cliff ahead, to force Congress to act.
I find myself increasingly confused as to the problem with military spending cuts. We spend an insane amount of money on our military as it is. Most of this is directed toward the Middle East. As we pull out of that region, doesn't it make some logical sense to tighten the related budgetary reins as well? I don't believe military cuts would be as 'devastating' as some fear-mongerers would have you believe.
I think that Andrew makes a very good point in that this way the Government has a guide line to follow and the proper programs can be cut. It will help ensure that programs that are very significant to our growing economy are not touched or cut in a way that does minimal damage to our recovering economy.
ReplyDeleteIn my opinion, Republicans and Democrats should stop thinking in their interests. They should take serious decision. It is not a game where who shouts highest will win. Thousand of people are in the expectation of what will happen with their life. Thousand of people depend on that decision. In this regard, the politicians must be able to combine micro-macro politics in order to control the budget into the limits. US government must start thinking in cost-benefit. So, invest in areas where could be profitable.
ReplyDeleteI agree that cutting specific sectors of government makes a lot more sense then just cutting "across the board". Once they examine which sectors that could survive with less money supporting them, we can slowly help the deficit issue, and start to control the governments spending issues. "Democrats say the cuts favored by House Republicans would unfairly target domestic programs..." but "Senate Democratic leaders want a three-month replacement bill, just long enough to move the showdown past other budget deadlines like March 27, when the current stopgap law financing the government expires, and April 15, when the Senate and House must produce budgets." Can they come to some sort of compromise? Or will on side have to give into the other... The article also says that the deficit will continue to subside in the next year, but in the future the economy will get worse with the new cuts and health care prices... better now worse later? I'd rather get the worst over with...
ReplyDeleteMaking small or big spending cuts, cuts are going to be needed in the end. Jobs might be lost in the process but if its going to improve our economy in the long run I don't see a problem with bigger cuts in government spending. I agree with evaluating what government sectors to cut some funding for. I think the government needs to figure out what it really needs instead of wants. I' anxious to see what the economy is going to do in the next few years with the new health care reforms and cuts in the government. Once again, they need to figure this situation out fairly quickly.
ReplyDeleteI agree with Priscila. Regardless of party affiliation, congress has to figure out the economy. I also agree with Obama in that we shouldn't risk the jobs of thousands of Americans. He seems to put the American people first, which is something that many people in his position in the past didn't do very well.
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