Talking, or not, about the debt ceiling

July 13, 2011

So some members of Congress <<cough, Republican leadership, cough>> want to abdicate their roles in dealing with the debt ceiling issue.

That's not really surprising. During my many years of Congress watching, I've seen a lot of crazy things, including plenty of lazy lawmakers.

And at some points in our careers, we've all wanted to just throw up our hands and walk away.

But really, guys (and this time it is the men in ostensible charge who are futzing around, so there's no gender chauvinism on my part). You were elected to help run this country. If you really don't want to do the hard parts of the job, I suggest you follow Rep. Ron Paul's lead (although he has other reasons for his decision) and not run for re-election.

Right now, however, everyone needs to get back to the confrence table and start talking, like grown-ups, about the United States fiscal situation and how to deal with it, short- and long-term.

The problem with that, though, is that folks on each side seem to be speaking a different financial language.

The words — revenues, especially raising them; spending, in particular cutting it; tax subsidies; revenue neutrality and the like — apparently sound to the opposing party like the adult-speak in Peanuts cartoons.

May I suggest everyone on Capitol Hill get a dictionary, clean out their ears and get back to work. Aug. 2 and potential financial chaos is just around the corner.

Related posts:

Want to tell your friends about this blog post? Check out the buttons — Tweet, Reblog, Like, Digg This and more — at the bottom of this post. Or you can use the Share This icon to spread the word via email and other popular online avenues. Thanks!

Share:

The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

Latest Posts
Added summer income means more tax considerations

June 16, 2026

Many young people take food service jobs during the summer. It’s a good way to…

Read More
Tax Season 2026 Continues!

We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • It has been the law of the land since 1974 that the President must propose a budget by April 1 for the following fiscal year.
    Our Congress has not passed a budget since April 2009. The President has not proposed a budget since then.
    Most troubling is the President’s characterization of the debt limit issue as a zero-sum political poker game between himself and those evil Republicans.
    I don’t know if the President will win his ‘bluff’, but since he and the Congress are playing with our chips it is now certain that the American people are going to lose.

Comments are closed.