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“Negotiate” means talking about ALL options

Golly.  The GOP still hasn’t figured out what’s driving the federal debt?  Let’s try… lack of revenues.

Federal revenues, as a percentage of the country’s economy, are at the lowest point since Harry Truman was President.  (And that was before Congress enacted Medicare, and added Medicare payroll taxes to the federal revenue mix.)

Corporate taxes, in particular, are at record-low levels.  (Just look at the olive-green areas on this graph.)

Federal Revenue Sources as percentage of GDP

The GOP insists on “concessions” from President Obama, in exchange for not driving America’s economy totally off the cliff.

They are insisting on cuts to Social Security and Medicare before they will consider acting on the debt limit.  “My goal here is to have a serious conversation about those things that are driving the deficit and driving the debt up,” according to House Speaker John Boehner.

But will they discuss restoring revenues, as a way of cutting the deficit?  Not a chance, the GOP says.

Wow.

Is Speaker Boehner really contemplating a “conversation”?  (Or is he just expecting the Democrats to surrender?)

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See the data I used in my graph here.

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About Liz Iacobucci

Liz Iacobucci is the former Public Information Officer for the State Employees’ Association of New Hampshire, SEIU Local 1984. Over the past three decades, she has served in government at the federal, state and municipal levels; and she has worked for both Democratic and Republican politicians.
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