American Morning

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December 3rd, 2010
08:03 AM ET

Will Washington ever tackle the deficit problem?

President Obama's deficit commission released a final report Wednesday that recommends sharp cuts in military spending, a higher retirement age and reforms that could cost the average taxpayer an extra $1,700 a year. The panel's 18 members – 12 of them sitting lawmakers – are scheduled to vote on the report Friday.

Though many agree that the deficit is too high, why is it so hard to get everyone on the same page about fixing the problem?

Michael Crowley, TIME Magazine's deputy Washington bureau chief, joins American Morning's John Roberts to talk about why it's so hard to come to an agreement on a debt plan.

Filed under: Debt
soundoff (7 Responses)
  1. Lori

    This country has become like a car stuck in the mud just spinning it's tires over and over again! I voted for Obama and I still believe in his ideas but now I'm not sure if he's tough enough to face down the republican guard who keep holding up the show and bringing progress to a halt until they get what they want. Today it appears as if the Bush Tax Cuts for the wealthy will stay in place for another 2 years, Obama had to agree to that or else he wasn't going to be able to get what he needed. And I don't know that I could stand on principle either while the unemployment checks of millions of people hang in the balance, people with children, who have to live not to mention it's the holidays. If I were the president I would pick an issue and there are plenty and I would not compromise no matter what, he has to take a stand. When you are around a mean dog if you flinch you give the dog the upper hand, but if you show the dog you aren't scared or intimidated the dog will leave you alone and to me that is the situation the president finds himself in with the old republican guard. And one more thing, if I were one of the unemployed who was in jeopardy of losing my benefits because the republicans want their tax cuts for the rich I would be pretty mad, they should write to their republican congressmen and let it be known that they don't appreciate being kicked to the curb so that the rich can be taken care of.

    December 7, 2010 at 10:55 am |
  2. Average American

    Simple answer is NO.

    Need to change the whole system to a flat tax system where everybody pays the same % no matter how much they make. No refund, no tax credits, no loop holes. Period.

    December 6, 2010 at 8:49 am |
  3. globaltechfirm

    .. cut the military fundings??? of course, make cuts where its easiest and where it doesn't effect most average Americans, next everyones, we all suffer at the hand of the government financially. why in the world, should we continue funding the government financially? When all they continue to put the american people in debt. American citizens have fell victim to the political elitist seductive tactics. Its time for people to look outside the "box" to get their information from reliable sources; government play a huge role in these types of media arenas, which makes it hard to get the correct information, you can't believe everything someone tells you. Big Business influences big government; every time the government gets bigger... somebody is getting richer.

    December 4, 2010 at 5:44 pm |
  4. Mark

    Look. Our elected officials will not use any additonal funds raised by tax increases, tariffs, fees, etc. to bring down the deficit and debt. They wil simply spend whatever comes into the government coffers and then borrow more money to spend – driving us deeper in debt. Suppose you owe $100 to a loan shark and come to me for help. I give you the $100 to save you from a beating but instead of paying off the loan, you go out and buy a nice steak dinner for yourself and your friends. That is exactly what Congress will do no matter how much money they collect. Politicians stay in office by spending not by saving or reducing debt.

    December 4, 2010 at 1:41 pm |

    The BUSH TAX CUTS should NOT be extended for the top 2%; and that is, if they truly are concerned and working towards a solution to 'fixing' the deficit problem in our country and the world. We still owe CHINA! The POOR have never been given 'taxcuts'! For the 'taxcuts' to be repealed on the 'RICH', shouldn't even be considered as 'WE' are RAISING their taxes! But that they would now, FINALLY, be paying their 'FAIR TAXES'! They'd just go back to paying their 'TRUE TAXES' THAT'S NOT 'RAISING' THEIR TAXES!

    December 3, 2010 at 12:41 pm |

    Yes! If the senate and the house would come together and with an OPEN MIND, study and critique the report that's been drawn up by the 'cooler intelligent heads' and BIPARTISANSHIP of the National Commission of Fiscal Responsibility and Reform, without the stubborn stonewalling and biased, angry, destructive political attitudes that have been shown by the REPUBLICANS towards anything, since the inception of this administration. AMERICAN PEOPLE ARE SICK AND TIRED OF THE HATEFUL, DRAMATICS OF OUR LEADERS!

    December 3, 2010 at 12:16 pm |
  7. Mark

    We all know why everyone is not on the same page. You'all at CNN also know why, but you will not report the truth about Republicans,or Democrats. All you hear from our elected Republicans, is the (American People), put us in office to do this, or lected us to do that .They were elected to help, and I point out HELP, work together with Democrats to solve the problems with this country. You just reported this morning that 53% of Americans DO NOT support the tax cuts for the rich anymore. Only 29% support the tax cuts for the rich. You should also report on, how the rich find every loop hole they can to cheat the Goverment out of paying taxes. I am a Republican, but I am so sick of hearing over, and over again from our elected Republicans, as to what I ( One of the so called American People) elected them to do. We elected them to help solve the problems with the deficit, not add to the deficit with more tax breaks for the top 2%.

    December 3, 2010 at 9:33 am |