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Congress passed on the task of cutting $1,200,000,000,000 from deficit spending OVER THE NEXT 10 YEARS to the "Super Committee".
Obama will blow that amount this year alone.
It is a small deficit spending REDUCTION, and Democrats still can't agree to get serious about a spending problem.
Somebody had better fix this soon.
This whole thing is proving to be just what I thought it was from the beginning. Yep, it is a Democrat tool aimed at being able to blame Republicans for the failure.
Think about the amount they have been told to cut. $1.2 trillion over 10 years sounds like a lot until you notice that it is only $120 billion per year and that doesn't amount to anything at all. I guess it may amount to what will be taken from Medicare and defense for the whole thing but that just doesn't sound like much to me.
When these politicians start talking about savings over a decade only a pure fool would accept what they are offering. We have got to stop taking those tiny numbers as anything but a means of fooling the people.
The only spending problem we have is on handouts to bankers and military contractors. The rest of it is a revenue problem. Tax, tax and more tax I say.
The only spending problem we have is on handouts to bankers and military contractors. The rest of it is a revenue problem. Tax, tax and more tax I say.
I am not sure you know the difference in spending and taxing so more can be spent. Do you?
I am not sure you know the difference in spending and taxing so more can be spent. Do you?
The Republican Study Committee's budget plan saws federal spending down to the bone at 18% of GDP. We currently tax at a rate of 14% of GDP, so even with the most conservative federal budget in place, we would still have to raise taxes to balance the budget.
The Republican Study Committee's budget plan saws federal spending down to the bone at 18% of GDP. We currently tax at a rate of 14% of GDP, so even with the most conservative federal budget in place, we would still have to raise taxes to balance the budget.
Yep, our expenditures have been near 18-20 percent for about 50 years, and axing the government by 25% would push unemployment to 20% (dumping a sea of very educated and qualified people into competition the unemployed), and destroy consumer demand and property values across the country, but our Republican legislators would rather bend over for Grover Norquist than balance the budget and serve the people.
Doesn't matter what they cut or what they increase taxes to. Until the insane spending is STOPPED none of it will do any good. Anything based on a ten year period is ludicrous. More kicking the can down the road. They've already kicked it past the election which was the main goal to begin with.
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