Quote:
Originally Posted by Flames Fan, Ph.D.
Agreed. There hasn't been a money tree for years now.
I think that both parties will try to take credit for reduced deficits in the next two fiscal years due to a reduction in stimulus spending and an increase in tax receipts as the economy slowly improves.
Ultimately you can't get out of the US's fiscal mess without a combination of reduced military spending, reduced entitlement spending, and raised taxes. All the other programs are drops in the proverbial bucket and are simply mentioned to rile up specific constituencies (decrease foreign aid!).
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If I'm reading this right I have two issues:
1) military spending isn't that bad, Think of it this way, the business center isn't located in Vietnam or India like Nike and Microsoft. So in affect keeping the money at home. It doesn't mean that you have to be at war, but being ready for action would be nice too. (thanks Clinton)
2) Raise taxes? really? haven't we learned enough from history about raising taxes? Romans did that and the rich took their money elsewhere. When the money and the rich are gone and your "tax profit" is down due to the people that did have money are now gone.
Mr. Obama and his 200 million/day trip to Mumbai are great for the deficit too....