Jim began this edition of Crosstalk with word that S.598, which carries the deceptive title, Respect for Marriage Act (An attempt to repeal the Defense of Marriage Act or D.O.M.A.), could be voted on by the Senate before Thanksgiving or immediately after the holiday. It could be offered as an amendment to the Defense Authorization Bill. Jim encouraged listeners to call their senators in regard to this pending legislation at 202-224-3121.
Jim noted that as of broadcast time, the U.S. debt was over 15 trillion dollars. This means the debt per citizen in the U.S. is 48,090 dollars. In response, Washington legislators formed a “super” committee to see what could be done in regard to a debt and deficit reduction plan that would cut 1.2 trillion from the budget. They have admittedly failed and now the blame game has started across party lines.
In light of our current deficit amount and the fact that our highest tax rate is at 35% of income, it’s certainly a travesty when our leaders can’t agree to cut 1.2 trillion from the budget over the next ten years. Everyone from the legislative participants to the unions have weighed in on this and so did Crosstalk listeners. Get the details when you join Jim Schneider for this critical broadcast that looks at the state of the American economy.