PRESIDENT BARACK OBAMA’S National Debt Crisis
President Barack Obama’s ‘’ National Debt Crisis ‘’
President Barack Obama’s ‘’ National Debt Crisis ‘’ has been on display all week since the President made remarks in his address to the nation on July 25,2011.The House of Representatives have approved a ‘’Cut, Cap and Balance ‘’bill that was sent to the Senate on July 19,2011. Senator Reid made a procedural move and the bill was tabled without getting to the Senate floor for a vote. Senator Durbin adjourned the Senate until Monday, July 25,2001
The House began working on revising their own bill, essentially negotiating with themselves, in order to accommodate changes that President Obama and the Senate requested. Speaker Boehner had difficulty getting the necessary votes to approve the Debt Reduction Bill to satisfy some Republican members. On Friday, July 29,2011, a vote was taken to approve the bill after revisions were made. The bill passed with a 218 yea vote. President Obama stated that he would not sign the House bill. Senator Harry Reid said that the bill would be dead on arrival in the Senate.
On Friday, the Senate produced the Reid Debt Reduction Bill. The immediate reaction to Senator Reid’s bill in the House was that the House would vote not to approve the bill. In the Senate , Senators predicted that Reid’s Bill would not pass. The 2nd approved House’s bill was sent to the Senate and it too was tabled. Tabling the 2 house bills did not allow elected representatives of the Senate to do their job of voting on legislation.
On Saturday, July 30,2011 the Senators voted on the Reid Bill shortly after tabling the House bill. The Reid Bill didn’t receive the necessary votes to pass, the vote was 58-42, 60 votes were required to pass. On Sunday July 31,2011, the Senate will bring the Reid bill back to the floor and the Senate will vote.
Watching the events on C-Span and other Cable Channels, truly one must wonder how our Congress ever can get anything accomplished. Back and forth negotiations between President Obama ,the Democrat leadership and the Republican leadership on arriving at a solution to raising the national debt limits prior to Aug 2,2011 appears to be like a three ring circus.
The President once said that he will bring transparency to his administration and the Whitehouse, somehow it doesn’t appear to be what we are witnessing.The innuendos of what was said and agreed to between the parties become accusations of each entity as to what was agreed to in the closed door negotiations.
President Obama and the Democrats want to raise the National Debt limits $2.5 trillion to pay future bills. They are agreeable to cuts(no plan is presently on the table) in spending. The Democrats will not agree to an amendment to the Constitution for a ‘’ balanced budget amendment ‘’. The Reid bill assumes a savings in the bill by ending the wars in Afghanistan and Iraq but no mention of the cost of the Libyan conflict or other spending liabilities in the world economies. The Republicans pointed out the phony math in the Reid bill assuming that the bill will be defeated when brought to the Senate floor.
The Democrat’s argument is that the government needs to increase revenue, tax the rich, remove tax loop holes of business and remove $4 billion of subsidies from the oil companies who are again making record profits. No mention was made of removing the $6.5 billion subsidies for the alternate energy industry. One must try to understand what profits really mean to the taxpayer. A percentage of the profits ( 40% ) go to the US Treasury ( the taxpayers ), profits mean a company can invest in equipment and the labor ( jobs) to use the equipment. The Obama Administration actions have virtually shut down oil production in the Gulf and Alaska with new regulations and the refusal to speed up the necessary permits. The cost to the economy is the loss of 100,000 jobs.
The Republicans state that excess spending , government waste and the size of government are the problems. Higher taxes is not the solution, more taxpayers is the solution. The economy and jobs are Republican goals in solving the deficits and National Debt. The House Republicans have approved a 2012 budget, passed Cut, Cap and Balance Bill and a second bill to resolve the budget deficit and the national debt limits discussions. It appears that members elected in both Houses of Congress by the tea party group are holding their positions of not increasing spending and of the government cutting waste and costs.
After watching the events of the past weeks, it is evident that each party has an ideology of its own. The ideologies clash and rightfully so because each has it’s own goals and desires to provide for the citizens. The outcome can be good when they debate , negotiate in good faith and can agree to a common good. In the end, we must always remember that the members of the three ring circus will eventually need to agree at some point so that a law can be made constitutional.
The events of the past months is truly a show of how our government is not supposed to work. The US Constitution has been the foundation of our government for the past 200+ years. The checks and balances in our government in most cases will produce good results. The end result is that majority rules and in some cases the minority also has power in deciding law and legislation.
It is shameful that some members of our government have ignored the oath of office in the performance of their duties. Those members are the cancer of our society, the corruption of our government and should be removed from office. Our government is corrupt when the laws of the land are not enforced by those who have been given the responsibility to enforce those laws to the fullest extent of the law. CONGRESS remaining silent and not telling the American people the Truth is a travesty
To be continued:
Your Author Jon Ewall
Jon's website http://www.chicagoconsultant.com/page1.php
Your author is a online marketing consultant of products offered on the internet. Jon’s website blog contains a variety of interesting subjects and articles that he has written