Political Party Views of the Debt
The political issue of the day, for both parties, is the faltering economy; and at the top of the list of economic issues—the runaway debt. Who is to blame for the massive $16 trillion debt and the foreboding $1 trillion plus deficits? Both political parties share some culpability.
Political Parties’ Plans to Reduce the Debt and Deficit
While Republicans and Democrats both express grave concern over the debt, attempts at compromise have largely failed. If an agreeable plan cannot be implemented to tame the debt, then beginning in 2013, automatic spending cuts take effect. The spending cuts are expected to achieve ...