Page 53 - Deficit Problem News Today

Tax increases as the solution to the deficit problem, whether or not there really is one. so other than asking superman to go to another planet and find the money, what would be the one and only remaining option to make up that shortfall? >> well, that -- thats as leading a question as the way the fiscal commission was set up, right? >> yes, exactly. im applying for the job on the next one. >> thats right. well, the answer is slashing spending. and slashing spending in ways, particularly going a...

Prescription occurs in the outer year, closer and beyond 2016, but for those who want to see us move in the right direction and get the deficits under control your group acknowledges that they will get worse before they get better, but, that is what worries folks. >>guest: if we cut the deficit immediately, we are actually going to be prolonging our fiscal imbalance because the problem, the reason why we are in the deficit problem right now, the vast majority is because of a recession. so, if we...

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You are right or left on this issue, but, clearly, we see big socialist government in europe trying to take away the apron strings or the big nanny government and in the case of france, raising the retirement age from 60 to 62. but they are in the doing it in a draconian fashion but the response tends to be violent. what happened here? >>guest: well, in some ways it is different. a lot of the polls are showing you look at earmarks, used to be popular, and now in this country there are more peopl...

Have a deficit problem thats structural. he he was bequeathed to him as a result of two wars we cant pay for. president bushs 48% increase in discretionary spending and passage of the medicare prescription drug program, with three tax cuts. what we have is a situation where what we bring in, we spend more than that amount and yes, we need to get out of it. do we need to get out of it right now and possibly, you know, go into another double-dip recession? i think thats a bad idea. >> mike: i now ...

We have a deficit problem that is structural. it was bequeathed to him as a result of two wars we cant pay for, bushs 48% in discretionary spending increase and passage of the medicare program. we have a situation where what we bring in, we spend more than that amount. yes we need to get out of it but do it now to go into a double-dip recession? bad idea. >> mike: i knew george w. bush would be blamed for this. he is responsible for spending more than he took in and ill agree with you on that. i...

Agency concerns, but also concerns from international -- corporate international investment. also, theres a domestic angle to this. british consumer confidence and british business confidence, you know, i think had this black cloud hanging over it, which is we know theres this huge debt problem, we know theres this huge deficit problem and there was a bit of a drum roll, at some point its got to be dealt with. i wanted to say this is the plan. its staggered over four years, doesnt take effect im...

Before and after. if you want to go further out, there was one study that says millionaires from 2003 to 2006, their tax burden went up to 274 billion-dollar from $137 billion. a will the of people benefited from the bush tax cuts, including this country. i think it was obvious in jobs, gdp and tax receipts to the treasury. >> the speakers premises is if you raise taxes on the rich, you lower the deficit, also, by cutting taxes on the rich, we inaccuracied the dest. you re-elect both. >> absolut...

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