Austerity in America is as distasteful to some as it is welcome to others in the United States. Well known is the deficit problem in the United States that it’s often the subject of talk around the world. The “Full Faith and Credit of the Federal Government of the United States” is also often cited by countries and nations when they hold a reserve currency of massive amounts of United States dollars.
With the economy of the United States being in an arguably precarious [albeit, improving for now] position, there are opinions upon opinions as to what to do about the problem that is the ballooning federal deficit in the United States.
The most popular is to reign in on federal spending while eliminating tax deduction and write-off loopholes. One would think this would be a fairly simple process; but apparently — not so much.
The Republican-controlled House of Representatives believes most of the cuts should come from federal spending, which also, oddly enough includes Congressional salaries, benefits and accounts. Recently, members of the House were found to have paid bonuses to their staffers and assistants, while calling for the Executive Office of the President to slash funds in any and all ways possible, particularly discretionary spending.
I [and I’m sure everyone else] am interested in particular how the Republicans will meet with the Democrats to help fix the situation. One party by itself can’t “fix it” with the other party controlling the other house. I like the split-house/split-party system. It may take a lot more time to get things done, but I think it’s generally more meaningful. Time will tell!
- Clinton: America’s Debt Problems ‘Can’t Be Solved’ With Austerity (thinkprogress.org)
- The Truth About Sequestration And Democracy, According to One Humble American (johnhaydeninmd.com)
- Greece strike under austerity as America faces sequester (thewiseme.com)
- Think the U.S. needs austerity? Look at this chart first. (washingtonpost.com)
- In The United Kingdom, Austerity Made It Harder To Reduce The Deficit (thinkprogress.org)
- We’ve reduced the deficit and hurt the short-term economy (washingtonpost.com)