In response to:

How Congress Is Getting It Wrong

Wallyd9619 Wrote: Dec 11, 2012 12:04 AM
Why does this article suggest the leadership in BOTH parties are backpedaling??? The GOP has been preaching fiscal responsibilty for several years now and demanding that there be subsequent cuts in spending EVERY time we have to raise the debt ceiling, including NOW!! ....but they lost the election and the "annointed one" feels he has a mandate now and the GOP is boxed in over tax cuts fo the rich.even thought it will definitely lead to a recession and not resolve our income problem!! This ADMIN is suicidal over spending and apparently greater than 50% of the voting public is WILLING TO follow them over the cliff and the GOP can do nothing but stare in DISBELIEF or go EXTINCT!! What a wonderful WORLD!!

In the current debate over the lame duck deal, the focus seems to be solely on the issue of taxes. Raising rates or closing loopholes: which will it be? After all it’s essential that the federal government increase its revenues, right? Everyone knows the government has run out of money, and talk of another debt limit debacle is already surfacing.

Is the cause of the deficit declining federal revenues? Perhaps it's those pesky billionaires moving jobs and profits overseas? Or, there's always some way to blame oil companies or George W. Bush.

The reality is far less flattering for...