The debt ceiling debate rages on in Washington with each side apparently dug in.
The GOP doesn't want to raise taxes and wants to make serious cuts in spending while Obama and his party want to raise taxes and not make the same drastic cuts in spending. It seems that they are at a stalemate with the raising of taxes being the point on which they aren't willing to negotiate.
Now, the 'Gang of Six' has stepped up with a plan that would cut the budget by $4 Trillion over the next 10 years but would allow taxes to raise by cutting some of the tax deductions for things like mortgages and charitable donations. Another alternative plan was put forth by McConnell-Reid which would allow Obama to obtain the increase to the debt limit himself without the approval of Congress, while setting up a committee that would recommend ways to reduce the debt by a trillion or more in spending cuts.
At least these two plans are created through bipartisan compromise. However, when you look at these two plans it is obvious that Senators Mitch McConnell (R ) and Harry Reid (D) are just as wrong as the 'Gang of Six' Republican Senators Saxby Chambliss, Tom Coburn, Mike Crapo, and Democratic Senators Kent Conrad, Dick Durbin, and Mark Warner.
Where do the American people stand on the issue of raising the debt ceiling? According to a recent Gallup Poll, 51% don't want it raised without serious cuts in spending while 32% fear the economic crisis being threatened by Obama. Whatever those in Washington do now, they might want to keep in mind that 42% of voters said they want their representative to vote against raising the debt ceiling.
They might also want to remember that at a time when most of their constituents are cutting back it only makes sense that the government cuts back as well. It might be a bonus point for Congress if they cut Obama's 'vacationary' spending.
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