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News Commentary

Some of our past commentary articles.

Commentary: Nation's Debt Ceiling Limit Increase

The Nation's Leader Obama, will present a news conference Friday July 15th, to deal with the status of discussions to improve the country's debt ceiling.

It will be the president's second news conference on the subject which has consumed official Washington and be among the greatest preoccupations of Obama's presidency. The debt ceiling is assigned at $14.3 trillion and also the administration states that if it's not elevated by August. 2 the federal government would default on its obligations.

Not only will the US default on its obligations, it will also have a large impact on the financial decisions we make. It will be hard to get a loan, buy a house with increased interest rates. It will also increase the amount we all pay for products and services.

The President is asking for a small increase on taxes for the people making more than $200,000 a year. The GOP rejects this option, citing it will "kill jobs". What jobs? If we don't have enough jobs now, we are not going to have jobs with an increase in taxes. What is happening right now is not helping. We need to take different steps and make a new plan. Tax increases are inevitable. Everything is going to cost more in the future. As populations increase all over the world, demand for food and energy will skyrocket. It is just the way the world is becoming. If we make small tax increases now, it will save us all money in the long run.

The more money a person or business makes, they should pay more in tax percentages than those making much less or some making nothing at all with unemployment rates so high for so long. Tax brackets are the most fair way in getting much needed revenue into the system. The GOP, is watching out for the rich, stalling on the deal, and embarrassing the country. The whole world is watching and waiting to see how all this unfolds. By not raising taxes at this time is going to have very bad effects, later on. Bill Gates and Warren Buffet have no problems in paying more taxes. They are the most generous in charities. Why? "What goes around, comes around." They are well off, because the give a lot back to the world. It is that simple.

This tax increase is so small. There are companies making huge profits due to the recent layoffs. Google just announced 9 billion dollar profit in the second quarter. Now that says a lot.

We are America. We need to do what is right. We need to do this debt ceiling deal today.

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Commentary: Nation's Debt Ceiling Limit Increase - Newscast

Here’s Why You Should Be Worried About the $33 Trillion National Debt — No Matter What Joe Biden and Janet Yellen Say

Wed, 20 Sep 2023 08:35:13 GMT After weeks of debates and delays, the U.S. Senate passed bipartisan legislation to lift the federal debt ceiling just days before the June 5 deadline set by the Treasury Department.

The Debt Ceiling: America's Zombie Politics

Tue, 12 Sep 2023 17:00:00 GMT I'm referring, of course, to the debt ceiling ... U.S. Treasury can borrow to pay the nation's bills. It does not (and I cannot emphasize this enough) limit government debt, it limits who holds ...

The Debt Ceiling: What It Is, Why It’s Important and How It Affects You

Mon, 17 Jul 2023 06:22:00 GMT which enables a larger national debt. In December 2021, for example, Congress increased the debt ceiling by $2.5 trillion to a limit of $31.4 trillion. But that was far from the only occasion.

Federal debt explodes by $1 trillion in five weeks since deal suspending limit became law

Mon, 10 Jul 2023 10:50:00 GMT The U.S. national debt has increased by $1 trillion in the five weeks since President Biden signed a bill into law that effectively turns off the debt ceiling until 2025. According to Treasury ...

US debt ceiling - what it is and why there is one

Fri, 02 Jun 2023 20:48:00 GMT Also known as the debt limit, this is a ... as well as interest on the national debt and tax refunds. Every so often, US Congress votes to raise or suspend the ceiling so it can borrow more.

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