Musicmystery
Posts: 30259
Joined: 3/14/2005 Status: offline
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quote:
Political brinkmanship at the expense of the nation as a whole. I believe that many (most) liberals - including Obama - have zero understanding of the economy, or where "money" actually comes from. They seem to believe that just because they've always been able to "find the money", that they always will be able to "find the money". Reality will likely teach them some cold hard facts. But probably not. Eat the seed-corn, and burn the crops that feed everyone to teach those bastards a lesson! Grasshopper, meet ant. And this applies equally to Republicans and apparently, House leadership. Cut taxes and the money will just be there. But for 30 years, more excuses about why it isn't there, as the debt continues to balloon. And that's their "plan" now---kick it down the road ten years, with a few cuts, and the magic money will just appear. Meanwhile, we'll just borrow more of it. Starve the beast...sound familiar? But they don't...they just live on more and more taxpayer credit. Cuts will have to be made, yes, and to the big three, yes. That STILL won't balance the budget, let alone start to address the debt. It's going to take raising taxes as well. On everyone, yes, including the wealthy. You could eliminate ALL discretionary spending and eliminate medicare completely---and you STILL wouldn't have a balanced budget. You could eliminate all discretionary spending and completely cut social security--and you STILL wouldn't have a balanced budget. You could slash defense, social security, medicare, medicaid, and discretionary spending by a third--and you STILL wouldn't have a balanced budget. You could eliminate all discretionary spending and slash defense spending 80%--and you STILL wouldn't have a balanced budget. Spending cuts alone are NOT going to do this! The House is in Disneyland. Spending cuts alone, even as severely overstated as above, as NOT going to balance the budget. Plans to rely on cuts alone, even severe ones, are going to STILL leave us with climbing debt, year after year after year. Argue about what KIND of revenue increases, which taxes, on what, on whom, fine. Eliminate the Bush tax cuts--for everyone. Add a VAT. Raise payroll taxes a half a percent (after eliminating the one year cut). Because without revenue increases---and not the fantasy "Oh we'll just grow our way out of a $1.27 trillion deficit" (let alone reducing the debt)--debt will continue to grow, year after year, and interest rates and inflation in its wake.
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