1.5 trillion dollar deficit

http://www.msnbc.msn.com/id/41272983/ns/politics-more_politics/

The US budget deficit is set to hit 1.5 trillion dollars.   That is insane.  The US government will borrow more money and increase the gross national debt which is already at 14 trillion dollars.  Thankfully there is a legal cap at 14.3 trillion dollars ( $14,300,000,000,000) so they cant really increase it more.  The budget deficit was increased by $400 billion dollars by extending tax cuts for the higher income folks, extending umemployment benefits, and a payroll tax decrease.  I feel like extending tax cuts for the rich/business owners was something that should not have been done.  I know they can argue that they need the extra money to help stimulate business, and generate money and then in turn hire more people.  But in the past two years this hasnt happened.  Companies are still not hiring enough and I dont think they will start hiring siginificantly more, anytime soon.  We are still in a recession or in the tail end of a recession at best and every company is going to be very cautious about hiring and expanding at this point in the game so that they dont suffer the same kinds of losses that they faced in the brunt of the recession.  Another point one could argue is that why should we punish people who are successfull/rich, more by taxing them more.  It would be like punishing them for using their brain and skills and ingenuity, with higher tax penalty.  I agree with that.  But it was a "tax cut" that was extended.  During the Bush era, the tax cut was offered as a temporary break from their normal taxes.  I think its now time to go back to the "normal" and tax them at their normal rate.  The country needs it. Neither party is willing to budge on this which is why we are in this mess.  All we keep getting is a compromise between two party ideals that is not good for the people.  I support President Obama.  He is trying.   He has said numerously that both parties need to work together.  I think the president needs to be a little more hard nosed and stand his ground against people that want to look after their own interests rather than the people of this country. 

Something needs to be done.  Increasing the deficit and debt is not going to get this country back on track.  We have to face the fact that things are different now.  They must be done differently now than they were before the recession.  Some of the government programs and luxuries that were there before need to be eliminated or put on hold.  Aid to other countries needs to be put on hold as well.  Government spending needs to be limited, and the Government needs to find a way to generate income and not anymore debt.