U.S. posts 3 Billion Dollar budget surplus in January 2013
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February 14th, 2013 (2:32 PM).
Guide of Darkness
Join Date: May 2004
Location: Temple of Light
Originally Posted by
Obama never got his chance to get rid of the Bush tax cuts, so this isn't all Obama's doing. We had budget surpluses the last time had a Republican House and a Democratic President. Obama has consistently caved to Republican demands to cut spending, so we agreed to close some tax "loopholes" (deductions and credits) that were deemed wasteful. There's something about having a divided government that causes us to balance our budget. Maybe it's the fact that neither side gets to have everything their way. Let's also look at who these tax hikes will affect the most: the working and middle classes. Part of the Obama tax hikes is a 2% increase in the payroll tax, which affects every American who receieves a paycheck.
There's truth to that. Minority governments are a great byproduct of a parliamentary system. I quite like them. Actual negotiating and bargaining has to take place. Compromise.
I don't see a lot of that in the current US federal government though. Just deadlock that leads to nothing, and nothing leads to a lack of new spending, which leads to savings. But... if they're doing nothing, why are they there and getting paid?
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