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Debt deal done

HERB BOYD Special to the AmNews | 8/3/2011, 12:36 p.m.

Sadly, the budget problems we are having in Washington are a reflection of the problems that exist in Albany and here in the city. The rich and moneyed interests have been allowed to convince too many Americans that having them pay more would be a tax on everyone, despite the fact that 98 percent of us would not be affected.

"By strategically replacing 'rich' with 'job creator,' the Republican right has duped the American public into giving up on shared sacrifice in this deal," Williams added. "In this sense, President Obama and congressional Democrats have so far failed. It seems that the nation has to learn yet again that trickle down economics does not work.

"My only hope from this agreement is that the joint committee, which will be recommending new deficit reductions, leads to more equitable reforms that ensure all Americans, not just the middle and lower classes, share the burden."

Obama shared Williams' concern, noting, "It's pretty likely that the uncertainty surrounding the raising of the debt ceiling for both businesses and consumers has been unsettling, and just one more impediment to the full recovery that we need."

There is much work to be done, Obama declared, but many Americans would just like to have some work.