Eric Cantor has walked away from the Debt Ceiling talks. He doesn’t want to be in a position to actually admit that raising taxes must become a reality if we’re serious about paying off the National Debt.
Unfortunately for Cantor and the other Republicans, their grass roots base and their big business base are totally against tax raises. However; we can pay money we don’t have. Rehauling medicare and cutting social security and education outlays are NOT going to make us debt free.
Welcome to the real world.
Just like I can’t cut my hours and still pay my car loan, the goverment cannot cut taxes and pay off the debt. Our federal taxes are the lowest they’ve been in fifty years. Our regulations on businesses are the smallest they’ve been in forty years and, still our national debt grows and our jobless jumped 9,000 higher last month.
Cutting taxes – which is the big plan of the Republicans – isn’t going to build a strong economy so far.
Cantor needs to come back to the table and face the music.
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