With the looming threat of a government shutdown averted, Americans certainly dodged the bullet last Friday at around 11:30 pm when government finally reached an agreement on the budget.  The fact that a disagreement between both parties on what amounted to .008% of the nation's budget allocated to Planned Parenthood is indeed a scary sign of the obvious dissent in Washington.  While both parties may have felt a sense of victory we can hardly share their enthusiasm as now we have another serious hurdle to push through.  Yes, I’m talking about the nation’s debt ceiling.  According to recent reports in the news, we could reach the debt ceiling as early as next month.  Some may wonder what does this mean?; In laymen’s terms, it means that America’s virtual “credit card” will have a zero available balance and we will not be able to borrow money in the world market.  It also means that we may not be able to meet/pay our financial obligations to debtors.  I’d like to say "welcome to the club" as this is the sad reality of millions of Americans today.   However, if America reaches the debt ceiling, this would affect a heck of a lot more people than the eight hundred thousand government employees that last week’s debacle was estimating.  In order for America to be able to avert this financial crisis; shared sacrifice is required for ALL.  However, when you have companies like GE reporting $14 billion in profits who reportedly are paying zero taxes, thanks to having a team of over 900 accountants.  The idea of shared sacrifice seems a bitter pill to swallow.  I say, how about starting with raising taxes for these giant conglomerates that generate billions in profits yet don’t have to pay taxes.  Also, higher taxes for the big executives who receive million dollar bonuses along with their high salaries, seems pretty fair.  Once that is done we, the little guys can pick up the rest of the tab.   Bottom line is that the concept of shared sacrifice is not a bad thing, as long as it represents a fair distribution of hardship on all.  When you think about how an increase in taxes will affect a family that is struggling to pay their bills and keep food on the table versus a wealthy individual who may have to give up their private jet or vacation in the Riviera who do you think should be taxed more?

US National Debt
Debt Celing: Battle heats up