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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.


Related Bing News Search Results

Commentary: Nation's Debt Ceiling Limit Increase - Newscast

The Federal Debt Limit

Fri, 14 Feb 2025 08:57:00 GMT The federal debt limit is not the same as funding the government. If the U.S. defaults on its debt, the ramifications are different than when ...

What Is The Debt Ceiling, And What Could Defaulting Mean?

Thu, 13 Feb 2025 01:00:00 GMT The debt ceiling is the legal limit on the total amount of federal debt that the US government can have outstanding. Read more here.

House Republicans unveil blueprint to extend $4.5 trillion in tax cuts and lift the debt ceiling

Wed, 12 Feb 2025 10:37:00 GMT WASHINGTON -- House Republicans released a budget plan Wednesday that sets the stage for advancing many of President Donald Trump's top domestic priorities, providing for up to $4.5 trillion in tax ...

House GOP takes first step toward tax cuts, debt limit increase

Wed, 12 Feb 2025 10:35:00 GMT The proposed budget, which Democratic critics pan as a "Republican betrayal of the middle class," would open up a $4.5 trillion runway over 10 years for more tax cuts.

House Republicans unveil blueprint to extend $4.5 trillion in tax cuts and lift the debt ceiling

Wed, 12 Feb 2025 09:25:00 GMT Sen. Jeff Merkley, the top Democrat on the committee, said the GOP effort would in the end drive the nation deeper into debt through massive tax cuts that he said primarily benefit the wealthy.

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