Tuesday, May 17, 2011

Know Your Limit

When reaching the debt limit really,
One must balance the budget ideally,
So the rich are more taxed
(With their conscience relaxed)
And the middle class needy, but steely.

Washington politics reached the borders of business as usual yesterday, with the news that the $14.3 trillion federal debt limit has been reached. Although it is possible simply to increase it, the Republicans in particular do not want to do so without a plan for drastic reduction of the budget deficit, expected to hit $1.5 trillion this year. The GOP and Democrats remain far apart over how (and to whom) the pain of budget-balancing will be administered.

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