Excellent job, President Obama. Let's fix the problem of too much debt by TAKIING ON MORE DEBT! Here, take this shovel, and dig more dirt to get out of the pit you are in...
Mari, I hate to break this to you, but my taxes should not be paying your medical bills. Pay your own! It makes me so LIVID to hear the current generation acting like the world and the federal government owes them a living and should pay for everything for them. BE AN ADULT! TAKE RESPONSIBILITY FOR YOUR OWN LIFE! I hate to come down hard like that, but it's a fact of life. No one seems to want to be responsible for themselves. Neither Obama, the House, the Senate, the Democrats, nor the Republicans should be your "sugar daddy." Don't fall into that mental trap. Everyone can succeed if they follow the advice of Thomas Edison: "The reason most people miss out on Opportunity is because it often comes dressed in overalls and looks like Work."
Thank God my family has been saving and paying all our debt off. At least when the REAL depression, hits, we'll be ready. The reason conservatives like Rush and myself want the plan to fail is because it is wrong for the country long term. Trust me, it would be nice if it would, but it is doomed to failuer. Bush 43 and Obama will have the legacy of learning that you can't spend yourself out of debt. His planned tax hike is a smokescreen. Soaking 'the rich' sounds so wonderful to those of lower income brackets, but it's a red herring. It won't raise diddly toward paying for all this spending, and will result in MORE layoffs, since that money that COULD have gone for salaries now has to go in taxes.
So, guess where the tax hikes will have to come from to pay for this. Yup, you guessed it, it will be US! Historically, that's where the money is. I don't believe he is even serious about this 'middle class tax cut.' Clinton made the same promise, and instead tried to pass retroactive tax hikes.
If Obama is TRULY serious about improving the economy, then either cut or do away with the capital gains tax. That will free much more money into investment and business recovery.
The best plan, Izzy, is to lay money aside into an emergency fund, the goal being 3-6 months worth of your expenses (Dave Ramsey Baby Step #3). That will gain you time for if he is laid off or bought off to be able to look for new employment without fear or hassle. That's what we are working toward.