Obama charts middle ground on deficit
By Chad Mohammed | Apr. 13, 2011On the heels of an 11th-hour deal late Friday night that averted a government shutdown, the real debate has only now begun. Debate over the debt ceiling will be heating up; if we stay on the current course, the U.S. will reach the maximum borrowing limit of $14.31 trillion by mid-May. Additionally, the fiscal budget for 2011-2012 will be taking place. The reality of the situation is that the only remedy would be major cuts, coupled with tax increases. However, many on the right say we only have a spending problem and not a revenue problem, and many on the left refuse to cut spending in favor of only raising taxes.