CONGRESS PREPARES FOR YEAR-END SPENDING AND TAX CUT BAZAAR

The article Congress prepares for year-end spending and tax cut bazaar discusses how Congress focuses on the Senate votes to extend the Social Security payroll tax cut which Congress passed almost one year ago. The article basically sums up the butting heads of Republicans and Democrats.

It is quite sad that the holidays are the excuse that the Republicans and Democrats will work together. It should be like this year round, as we are one country. I do agree extending the payroll tax. Right now is not the time to cut taxes, but both parties need to be on point to be ready to offset the revenue with their own spending cuts. A household of $40k is going to save $800 next year if the pay roll tax cut is extended. That money is only going to go to the necessities that a particular family earning $40k needs and not increase any other spending. On the other hand it will give the working people confidence that the government is not going to take all of their money and play with it like monopoly money. 

This pay roll tax is a very short term benefit that will not have a large impact to the deficit in my opinion. The middle of the road seems like the easier answer, but here, less is more. If we are going to get out of a deficit it is simple economics; raise revenue, cut spending to a degree where the AMERICAN people win, not one party versus another. If a savvy CEO ran the government like a successful business (first I would fire everyone and rebuild competent people) to increase the bottom line profits you need to cut out parts of the business to make margin if you’re not growing top line. Then we need to reassess where we can be successful and invest as well as grow that part of the business or country to ensure we capitalize on our competencies that will get the American people working, spending, and exporting our goods. Congress has the power to make the right business decisions for the USA if they could put their parties needs on the back burner and the American people’s needs in the front. We can become a global power once again, and not use the excuse that the holidays are around the corner to act quickly on important decisions. That’s why we voted for these people in the first place, to make the right decisions for Americans, not their own political beliefs.