Who can seriously put energy into dissecting the political divide at this point? When you are broke and in debt, options narrow. There's little left to spend, most of it going to Social Security, Medicare, defense and the like. The politics of austerity are not going to be v entertaining.

If they propose to take away my home mortgage deduction and cut my marginal taxes, or require me to work longer to receive full Social Security benefits,  I'm just going to need to sharpen my pencil or adjust my behavior, not my attitude.

[quote=Times7]

Who can seriously put energy into dissecting the political divide at this point? When you are broke and in debt, options narrow. There's little left to spend, most of it going to Social Security, Medicare, defense and the like. The politics of austerity are not going to be v entertaining.

If they propose to take away my home mortgage deduction and cut my marginal taxes, or require me to work longer to receive full Social Security benefits,  I'm just going to need to sharpen my pencil or adjust my behavior, not my attitude.

[/quote]

IMO these are not spending cuts, these are just ways of moving tax revenues from going back to the payor for potential over payment. If I pay in x amount and you are not going to return y back to me at a later date via "credit" or "SS payments" then that is a net tax increase on me.

This should not be considered a win by any means what so ever!!! The tax code needs a complete overhaul. Sliding the age of retirement up is barely a band aid.

Yeah, when you consider the time value of money, sliding the age bracket is smoke and mirrors.

I think the American people are getting it about potential credits vs. letting the money reside where it belongs with the taxpayers. I don't understand how any educated twenty year old could be a "progressive".

Wholesale spending cuts accross many programs is what is needed. Elminate 6% of GDP (about 900 billion) in spending per year and we're back on track. That puts our spending/taxing back in line with what it has always been.

This website shows just how many rediculous government agencies we have.

http://www.usa.gov/Agencies/Federal/All_Agencies/index.shtml