Debt Debate Continues in Washington

The continues debate in Washington over raising the debate ceiling rages on with various proposals aimed at ending the impasse. Both sides agree that the debate ceiling needs to be raised, but are far apart on the details of raising taxes and reducing spending to go along with increasing the debt ceiling.

Last week, I wrote that one of the missing components of any deal is to increase revenue, and that means getting Americans back to work. You would think Washington would understand this concept, especially with last month's unemployment report, which showed that employment in America had stagnated with only 18,000 jobs begin created. This minuscule hiring increased unemployment to 9.2%, this after having the country has spent nearly $5 trillion dollars in the past three years.

If Washington wants to reduce the federal debt then it needs to get America back to work. The country can't afford to have around 14 million people unemployed, plus millions more unemployed.

Whatever economic policy Washington is currently operating under, it's clearly not working!

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