Stalemate on debt limit negotiations is not acceptable

Let us hope that the problems get resolved as the negotiations proceed to increase the U.S. debt Limit, which both sides say has be to resolved by August 2.

On entitlements: One side says they are off the table. The argument is that they are promises to the people — there is truth in that; the majority of the people say "hands off." The other side says doing nothing will increase the debt, and there has to be reform, that we cannot afford entitlements at the present level — and there is truth in that.

While it seems both sides are right, something has to be done — a stalemate is not at acceptable!

The disconnect is that doing nothing on entitlements is that one position can be supported in argument only as a want, whereas both sides admit that Medicare is just about a certainty to go broke. The promise for reform is about the only sensible answer for now. The problem will be to balance costs and revenues to maintain an acceptable level of benefits of entitlements.

On taxes: One side says that if off the table. The argument is that an increase during a recession will cost jobs — there is probable truth in that. The other side says the public is already suffering enough from the lack of jobs — there is certainly truth in that; and that there has to be an increase in taxes (remove subsidies on corporations, etc.).

While it seems both sides are right, something has to be done — a stalemate is not at acceptable!

The disconnect is that doing nothing on taxes since both sides seem to admit that taxes will have to be raised sometime, that normal increases from a recovering economy will not be enough, at least for some years. The promise for reform is about the only sensible answer for now. The problem will be to balance revenues and costs to help create jobs.

The final disconnect is that taking both issues off the table — entitlements and taxes — will lead to unknown, but almost certainly enormous, consequences.

Richard Allchin, Cockeysville