Guest
07-14-2011, 11:39 AM
From Associated Press, July 13, 2011...
...The powerful Business Roundtable sent a letter signed by more than 470 CEOs to every member of Congress and the White House urging action on the debt ceiling and expressing support for deficit reduction...."We’re not going to comment on each volley, but we’re trying to make it clear there is no other path other than raising the debt ceiling. Any movement in Europe, any kind of banking problem, any credit diminution could easily begin a chain of events that could be very, very negative to the economy at a time when economy watchers aren’t sure which side of the swing we’re on—up or going down", said the Roundtable’s Johanna Schneider.
James Dinegar, president and CEO of the Greater Washington Board of Trade has also had enough. "“Even if we get a deal, the hit to our reputation has been irreparable. The whole world is watching, and you do lose the confidence of the Chinese at a time when confidence is everything.” (He was referring to the fact that the funding of our government is heavily reliant to China continuing to buy our debt in large amounts.)
The Republicans are holding steadfast to the ideology that any increase in taxes (including closing loopholes or eliminating unneeded subsidies) would hurt the "job creators" of our economy. They've even rejected the proposal that the tax code be reworked to include a reduction in corporate tax rates! But 500 or more of the CEO's of America's largest job creators are telling Congress that they need to both increase the debt limit as well as balance the budget and begin to pay down debt. Obviously, they expect that a part of that formula would be an increase in revenues, if not in the form of increased rates, at least in the elimination of tax loopholes, subsidies and the like. The arithmetic of the fiscal crisis we face can't have it any other way and the CEO's are acutely aware of that.
So who are these "job creators" that John Boehner and Eric Cantor keep ranting about and protecting their interests? Certainly not the local hardware store or hot dog stand. They're not the ones who either create lots of jobs or would suffer from the elimination of loopholes and subsidies. So who is it that the GOP is speaking for, and in the process putting the country and our economy at great peril?
Or is it nothing more complicated than partisan politics?
Somebody tell me?
...The powerful Business Roundtable sent a letter signed by more than 470 CEOs to every member of Congress and the White House urging action on the debt ceiling and expressing support for deficit reduction...."We’re not going to comment on each volley, but we’re trying to make it clear there is no other path other than raising the debt ceiling. Any movement in Europe, any kind of banking problem, any credit diminution could easily begin a chain of events that could be very, very negative to the economy at a time when economy watchers aren’t sure which side of the swing we’re on—up or going down", said the Roundtable’s Johanna Schneider.
James Dinegar, president and CEO of the Greater Washington Board of Trade has also had enough. "“Even if we get a deal, the hit to our reputation has been irreparable. The whole world is watching, and you do lose the confidence of the Chinese at a time when confidence is everything.” (He was referring to the fact that the funding of our government is heavily reliant to China continuing to buy our debt in large amounts.)
The Republicans are holding steadfast to the ideology that any increase in taxes (including closing loopholes or eliminating unneeded subsidies) would hurt the "job creators" of our economy. They've even rejected the proposal that the tax code be reworked to include a reduction in corporate tax rates! But 500 or more of the CEO's of America's largest job creators are telling Congress that they need to both increase the debt limit as well as balance the budget and begin to pay down debt. Obviously, they expect that a part of that formula would be an increase in revenues, if not in the form of increased rates, at least in the elimination of tax loopholes, subsidies and the like. The arithmetic of the fiscal crisis we face can't have it any other way and the CEO's are acutely aware of that.
So who are these "job creators" that John Boehner and Eric Cantor keep ranting about and protecting their interests? Certainly not the local hardware store or hot dog stand. They're not the ones who either create lots of jobs or would suffer from the elimination of loopholes and subsidies. So who is it that the GOP is speaking for, and in the process putting the country and our economy at great peril?
Or is it nothing more complicated than partisan politics?
Somebody tell me?