The debate over how to deal with the growing national deficit and debt is all the rage in the United States Congress as of late.
It took nearly half of fiscal year 2011 to figure out how to set up the budget for fiscal year 2011. The fight over how to plan things out for fiscal year 2012 is more than likely going to be even more difficult and complicated, as Republicans and Democrats want to move things in two completely different directions.
Right now, members of Congress are looking to negotiate about how to go about fixing the debt situation.
Not surprisingly, the Speaker of the House of Representatives, Republican John Boehner, has made it completely clear that he will stand his ground on the cuts he feels are necessary and does not plan on compromising his beliefs one bit.
Boehner is making it perfectly clear that the size of the budget cuts must be notably larger than the increase of the debt ceiling.
He said, “Without significant spending cuts and the way we spend Americans’ money, there will be no debt limit increase. And the cuts should be greater than the accompanying increase in debt authority the President (Obama) is given.” Boehner made the statement in New York at the Economic Club.
The House Speaker went on to say that the cuts being made could not simply be in the billions of dollars, but that for true progress to be made the cuts need to be in the trillions of dollars.
Boehner said, “They should be actual cuts and real reforms to these programs, not broad deficit or debt targets that punt the tough questions to the future. And with the exception of tax hikes, which in my opinion will destroy jobs, everything in on the table.”
John Boehner did not say exactly how much he was hoping to cut, but many are expecting the cuts to be close to two trillion dollars in total.
While Boehner’s words are inspiring and make it seem like reducing the debt and deficit is doable and easy, the cost he is speaking of is dangerously high.
Can we really afford to cut and reform the programs and change the way we run things on so many different levels as a country so much and still live comfortable lives?
Sure we can restore the economy in terms of international standing and debt, but at what cost would it be to the average American citizen?