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November 12th, 2012
04:39 PM ET

Alan Simpson talks 'fiscal cliff'

With time running out before we reach the 'fiscal cliff', many wonder if our political leaders have what it takes to strike a deal. Former Wyoming senator Alan Simpson is one these people. Ted Rowlands' speaks with Simpson about why our political leaders need to remember that they are 'Americans first, not Republicans or Democrats'.

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Filed under: Anchors • Brooke Baldwin • CNN Newsroom
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  1. Glen overbey Arkansas

    You know what i thank people. concearning what's causeing america to plunder. as the simple fect that our goverment is seting back & allowing or oil company's to create inflation to rise up over all of or head's to the exsent the poor people can't afford noting. any more. its Driving up the cast of living not only on the people. but on the company as a whole. im affrad if this big problem aunt resoved. america will keep plundering. till there's noting lift. and thats the road were headed on. you cut the poor cut america out. and thats my bottom line.

    November 13, 2012 at 7:25 am |
  2. Dave T

    It was the strong housing market led the way to balanced federal budgets in the late 1990's. How can we repeat this today?
    First, the mortgage rates are currently at an all time low. Thus people have extra cash to spend on the economy after paying these low mortgage payments. Please, allow "underwater" homes to be refinanced with these loans, as well.
    Secondly, create new tax credits for those who make their homes more energy efficient (better windows, furnaces, insulation?) It would lower everyone's energy bills. Then more cash would be made available to spend after these lower monthly energy bills.
    Third, According to econ 101, whenever you lower the price of something, you will sell more of that something. Thus your total net profits will rise. Currently, to sell your home it costs is 6-7 percent of the price of your home. Can they lower this price so it will sell more homes for the same amount of time? With today's digital technologies, they no longer need to print expensive pamphlets. Can new tax credits be given to reduce this price to sell a home to let's say 3-4 percent, instead? Then this would help stimulate the housing market.
    Fourth, education is the key to reduce the dependency on entitlements. College costs were a lot lower in the 1990s than compared to today. Today, graduates have record high student loans debt. This decreases the ability to buy new homes and cars after graduating. Thus, harms our economy to achieve full employment like that of the 1990s. Please give tax breaks for excessive tuition.
    Fifth, Encourage residential property tax cuts to stimulate the economy. It must be passed onto its renters, as well. Then this extra cash could be spent to help stimulate the US economy even more.
    "Who's going to pay for these ideas?" For every one-dollar spent on these programs, will result in multiple amount of both tax revenues increase and entitlement decrease in the long run. ...Then we all win.

    November 13, 2012 at 8:58 am |
  3. williamhoward

    Hope and Direction, The dogmas of our quite past are inadequate to the stormy present, the occasion is piled high with difficulty and we must rise with the occasion. As our case is new so we must think anew an act anew we must disenthral ourselves an save our country. Let us hope congress and the executive branch can discover the qualitys inside themselves to lead this great country to a more perfect realization of its sacred promises. ~Abraham Lincoln

    November 14, 2012 at 6:50 am |

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