Treasury Secretary Timothy Geithner shuttled among congressional leaders yesterday with a plan to trade $1.6 trillion in tax increases for $400 billion in unspecified entitlement program cuts. The GOP will reject this plan - this does nothing to address the debt, i.e. spending. Lets see Obama actually come up with real spending cuts. Cut out NPR, PBS, Planned Parenthood, ACORN, funding for the ARTS, useless research Grants, "solar energy" grants to his supporters, etc. There's plenty of real useless fat we don't need that can be permanently cut from the budget. Obama won't do it. He'd rather fail again and blame someone else - as usual.
What are you going to do with the unemployed soldiers? Your plan to give money to solar plants to make jobs has not been working out real well....in fact the policies of your religion seems to be crushing job growth.
won’t waste my time replying to imbecile like Billy so Unc I just have to say I just don’t understand you liberals at all. With the facts staring you in the face you have to know (if you are intelligent and not some zombie of the left) that it is going to take large amounts of cost cutting and spending reductions as well as any revenue increases to put a dent in our debt. I as a conservative I can agree to some revenue increases. I’ll even go along with increasing taxes on the rich as you call them which to me is people making over $1 million a year. They helped vote Obama in knowing what he wants to do so that’s fine with me. But a lousy $400 million in spending reductions is a joke and we all know it. It’s a low ball opening gambit. That number will have to come up significantly if both sides want to make any progress and the revenue number will probably have to come down too. You cannot fix our economy just by increasing taxes. It hasn’t worked for your state or any state that has done it as a factual example.
Entitlement programs cover around 62% of the Federal Budget, that’s around $2.6 trillion. The next largest is National Defense at around 19% at about $684 billion. And the remainder going to other things. These are ruff figures The 800 pound gorilla standing in the room is entitlements for everyone to see yet you turn a blind eye to it.
Federal spending will exceed Federal revenue by over 1.0 trillion dollars this year alone And contrary to your belief increasing taxes on the rich alone is not going to cover that gap. The 800 pound gorilla pounding his chest has to be handled and caged.
Why are you so blind or so afraid of the gorilla and refuse to seriously address it when you see we are a trillion dollars over our current revenues this year not to mention the previous trillion dollar short fall the last 3 years now? Surely you realize we cannot do this forever. You see what is happening in Europe because they went down the path we are headed down now. Do you really want us to end up like them? It's inevitable this will happen if we continue like this. You would have to be a complete myopic fool to think otherwise. The USA is not bullet-proof