Yesterday we reported that our weekly poll question wants to know your opinion about how best to balance the Federal Budget.
As of writing this story, 51% of the nearly 300 voters feel that Congress should just make cuts in spending, and 42% voted that it should be a combination of both spending cuts and tax increases.
In our interview with Representative Rosie Berger over the weekend as she attended the National Conference of State Legislators, she responded to that question by saying it should be a combination of both.
Berger says that President Obama's proposed $3 billion plan and Representative Paul Ryan's $4 billion plan covers a ten-year period, but that still is less than a third of the current debt of $14.3 trillion. Berger says part of the problem is that none of us truly comprehend what a trillion is.
Berger adds that the revenue the Federal Government takes in is $.66 on every dollar that is spent. She expounds on the barrier of the debt ceiling.
Berger indicated that U.S. Treasury Secretary Timothy Geithner said last week that they could use the tools they have in place through July 8th in order to not have the Federal Government default.