The big news in Washington D.C. is the stalemate between President Barack Obama and both parties on the new federal budget.

Currently as I sit typing this column the national debt is around 14 trillion 490 million and change. That is as accurate as a read as I can get on the debt at usdebtclock.org. Go a head and check it out. That thing is counting up like an electric meter tracking the powerconsumption at every residence.

The heads of both parties in D.C. have reached an stonewall on negotiations. At issue is cutting from the budget, reductions to entitlement programs, raising the debt celling by another $ 2.4 trillion and raising taxes on the rich.

Obama is doing the only thing he really can in trying to put together a bipartisan agreement, with the problem being that Democrats want no cuts to government services and entitlement programs and tax increases for the rich; and the Republicans want just the cuts and no tax increases for the rich.

This is the wall that Obama has ran into. The problem demands cuts along with an increase in taxes for the rich because the hole is over $ 14.25 trillion deep and going.

So, the solution is going to have to be substantial and painful.

The Republicans argument is that to raise taxes would kill job growth, but if the unemployment rate continues to climb and the economy continues to sag, the overall effect will be much worse than the effects of raising taxes. Anyway, the tax increase would not be set in stone and could be reversed with future legislation, if it were to fail to have the desired effect.

On top of generating more revenue we also must cut back on spending. This is going to be the most difficult part of the new budget to negotiate.

The simple fact of the matter is that senior citizens make up a devastating voting block and any attempt to cut back on their resources is a politically risky move, to say the least.

All the talk is that if the debt celling does not get raised in two weeks the federal government will default on it’s obligations.

But, is this really going to happen? I don’t think the government offices are just going to lock their doors if an agreement is not reached in time.

My greatest concern is with the new school year starting at the same time is that going to mean the Pell grants will not be dispersed, and if so, will Eastern waiver the cost of tuition?

Ultimately, Obama is putting together the only budget that can work and hopefully get our economy turned back around.

This may mean he will be doomed to be a one-term presidency, but he is making the tough calls and doing what he must.

Marcus Smith is a junior journalism major. She can be reached at 581-7942 or at DENopinions@gmail.com.