Skip to comments.Debt leaders paint gloomy picture for governors
Posted on 07/11/2010 1:36:48 PM PDT by NormsRevenge
BOSTON The heads of President Barack Obama's national debt commission are painting a gloomy picture as the nation struggles to get its spending under control.
Republican Alan Simpson and Democrat Erskine Bowles told a meeting of the National Governors Association on Sunday that everything needs to be considered including curtailing such popular tax breaks as the home mortgage deduction.
They say that without radical changes, debt will destroy the country like a cancer.
(Excerpt) Read more at news.yahoo.com ...
simple answers are tough for most politicians to understand. what’s in it for them? is all many care about..
The blind speaking to the deaf. Yeah, this should work out. /s
This is a great way to make sure housing gets flattened even further and longer. It’s hard to say, just with AP reporter excerpting what they say, but it seems old Simpson’s a lot more willing to put the heebie-jeebies in homeowners than he is to put public employees on edge about their salaries, benefits and pensions, which is the direction he should be going.
Cut spending, morons.
Why no mention of Obamacare, Mr. Simpson?
Simpson is exactly the kind of senile old fart Vichy “Republican” that Ubama and the rats love to put on tax-hike “commissions” like this one. Simpson has no shame at all, allowing himself to be used like a prison bitch by those animals.
Notice none of these Jerks suggest cutting spending and paying down debt. Their solution is taxes, more taxes and no deductions.
Does anybody need to know anything more about that sick scumbag?
What is the incentive to own a home. Cutting a deduction that been on the books for ever is the same as raising taxes. I bet they never considered reduce spending.
they’d better keep their pea-pickin’ hands off my mortgage deduction if they know what’s good for them
“instituting a financial trigger mechanism for gaining Medicare coverage.” Does anyone know what this might mean?
I take it to mean that people will be mean tested for medicare but arent we all supposed to be on it since we now have national healthcare-So we get to pay into the fund like we do with SS but wont see any of it if we have more the 1.00 in the bank is does this just about sum it up
Oh this commission will recommend slashing this and slashing that, and proposing all kinds of "draconian" spending cuts, blah blah blah. You can count on that. They know it's the only way they'll ever be able to sell the massive tax hikes.
And it will all be fake. A con job.
This "commission" is spending 95% of its energy on tax hikes, and 5% on scheming up fake "spending cuts".
I hope people are ready for a real revolt.