Quote:
Originally Posted by Schneed10
I agree with this.
The real interesting thing coming out of this debt ceiling debate is that spending cuts are coming as a result. A lot of spending cuts, reportedly $1.0 trillion being discussed so far, with the Republicans pushing for more.
When the specifics come out as to what programs are being axed, the Republicans are going to be challenged to defend their stance that the wealthy should not keep certain tax breaks and deductions. Americans don't have a good feel for what $1.0 trillion in cuts really means. When they hear the specifics and realize that programs they rely on are taking a hit, it will then be on the republicans to explain why the rich should keep their hedge fund tax deductions while education funding, for example, has to take a hit.
Obama will have plenty of ammo to fire back with.
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I agree thye Rep. have to agree to raise the taxes on the rich even if they believe it will hurt the economy.