Quote:
Originally Posted by Jag_Gator
Some Austerity
by Michael D. Tanner
"The Reid plan would theoretically cut spending by $2.7 trillion over ten years. Even if that were true, it would still allow our national debt to increase by some $10 trillion over the next decade. But, of course, the $2.7 trillion figure is mostly fiction. About $1 trillion of the savings would come from the eventual end of the wars in Iraq and Afghanistan, savings that were going to occur anyway. Senator Reid might just as well have added another $1 trillion in savings by not invading Pakistan."
This is what I'm talking about. Token cuts. This is all for show. America needs to stop trying to be the policemen of the world. It has helped to bankrupt the nation--along with corporatism.
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Haven't read the whole article yet, but that point is bunk, and if it's reflective of the author's general thinking, you can dismiss the article..
If you're $1 Trillion in debt and you can show that an eventual end to an ongoing expense will save you $1 Trillion, then your books are, to some extent, balanced.
If you're $1 Trillion in debt and you decide not to spend another $1 Trillion on another expense, it doesn't help balance your books, it just notionally helps you avoid going further into debt.