You can do any number of things to slow the rate of spending, as has been pointed out taxing everyone making more than 200k a year at 100% would only raise 1.5 trillion, barely enough to cover the deficit. You can cut defense 100% and save a trillion, now we're getting somewhere although I don't know what all those ex military people will do for work.
Obviously neither of those are realistic so you could raise taxes a bit and cut defense a bit but probably neither will be enough. The truth is MANDATORY spending is rising faster than the economy and revenues. Mandatory spending is social security and medicare/medicaid both are on auto pilot and consume 2/3 of the fedetal budget. Now add in the 2.5 trillion dollar Obamacare entitlement and you have certain destruction, the strategy of the left to take power and create their liberal camelot!
Unless these entitlements are reformed we will implode. Whatever is done wont be popular and will probably cost politicans their jobs. It will take courage and persistance to get it done something lacking on the left side of the isle.
Cut all the entitlements you want, but it will never be enough. The expense of empire and maintaining the most powerful military machine in the history of the world is the greatest financial drain on our (or any) government. This is a law of history and it has brought down many kings and empires.
Obama is running around the country talking about millionaires and billionaires but wants to tax those earning over 200K. Once again his rhetoric and the truth are at odds with one another.
The most powerful military machine in the world makes sure that oil is traded in US dollars only.
by lady_love1585 years ago
http://www.speaker.gov/blog/?postid=240654We need to cut trillions not billions and unless we do we should not raise the debt ceiling! Obama is spending 4 trillion dollars a year even though historically revenues don't...
by Susan Reid5 years ago
From that bastion of lamestream liberalism, TIME. Mr. Klein puts it so darned well I couldn't resist posting the whole article. It's not very long. Enjoy!Oh, and as we all know, there WAS no vote today (Thursday). ...
by shazz011096 years ago
Any people who are part of the TEA Parties here, what is your issue/complaint with either or both of the major Parties?
by Poppa Blues6 years ago
I'm sorry but first the guy spends 787 billion on a stimulus bill that everyone on the right said wouldn't work and it didn't. Then he spends 2.5 trillion on a health care bill everyone on the right said wouldn't lower...
by preacherdon4 years ago
Let's go back to our pre-1940 ways and end government entitlements to all, except children. Let's end AFDC, TANIF, and Food Stamps. Let's tighten up on disability claims and child support. Make people work again for...
by logic,commonsense5 years ago
Read an article on MSN that the projected deficit for this year is 1.5 trillion dollars. Makes bush look like a piker with his measly 3-400 billion dollar deficits.Course there will be those that forget that bush...
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