People we are only 2 and a half months away from the next presidential election and I have to admit I am somewhat confused about where each party stands at this point. So, I’ve decided to share with you all my top 10 reasons as to why I feel everyone should get out and vote.
(And by the way, they’ll be in no particular order… Just things I feel like you guys should know before you vote. )
Did you know that in the past 4 years the debt has increased by $4 trillion?
Financially, the nation is in shambles. Granted, we’ve accumulated debt for decades but never like this. Currently, the nation is $14.4 trillion in the hole — and steadily rising.
In President Obama’s presidency he has accumulated $4 trillion worth of debt alone. He is on track to supersede Bush 43 accumulation, which was $4.9 trillion by the end of his presidency. But the catch to it all is the fact that Bush 43 amassed his debt in 2 terms rather than Obama’s 1 term. So put that into perspective, look at it this way: Bush 43 was adding $51 billion/month and Obama has done $129 billion/month. That’s very troubling. Makes you want to reconsider voting for him….
What does Romney plan to do to solve this problem?
Romney is proposing to cut the top income tax rate from 35 percent to 28 percent and cut other tax rates by 20 percent(let the rich stay rich apparently). That would reduce revenue to the federal government and increase the debt and deficit. I don’t understand how this would ever cut the debt.
He also says that he will offset the loss of revenue by eliminating many deductions and loopholes in the current tax code, but hasn’t officially stated which ones he’d like to eliminate. Personally, I think he talks in circles and is very vague about what his alleged plans are. I know that by revealing the potential eliminations would possibly upset some people who use them yearly. But, again he needs to be clearer on his stance when it comes to how he plans to cut the country’s debt.
What suggestions do you guys have about the best way to help decrease the debt?
(Fatboysfavs is always trying to stay relevant. Yes this blog is supposed to be geared toward Fashion and great dining but there are a lot of important things in the world that I feel I must discuss. Thanks for reading.)
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