Please don't do me any favors! Tea Party people want to save the country by making cuts to government with no revenue enhancement. Are these people economic experts? Did they get any input into the consequences of such a policy? Some even went so far to say that default would not cause any problems to our economy.
Look at what has happened to the Stock Market when Standard and Poors did a simple downgrade from triple A+ to double A+. The Market reacted with a dismal drop, mortgage rates will rise along with credit card interest. All of this is a reaction to the stubborness of a small group of irrational Tea Party members elected by a "mandate" of a small group of voters.
This chain reaction of making an issue out of a routine rise of the debt ceiling caused a drop in the stock portfolio of thousands of dollars to most Americans. So the Tea Party prevented a rise in taxes on the wealthy and I'm out thousands of dollars in my portfolio! I would have been better off paying a higher tax rate, so please don't fight so hard for most of the middle class people invested in the Stock Market! We lost way more because of the irresponsibility of a few radicals in the House of Representatives.
Cutting government spending translates into cutting government jobs in the public sector. This economy is too fragile to take such a position. Putting more people out of work can never be a good thing during a recession. Causing a debt crisis will put even more people out of work when their portfolios get trashed.
We need to raise revenue to be specifically used to create jobs along with closing the loopholes in the corporate tax structure so that it doesn't add to the debt. This would allow our country to grow our way out of this debt crisis. Wake up America!
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