The real problem with the dficit is not spending; we have a revenue problem. Sorry to go against the conservative narrative that at times passes for generally accepted wisdom. This thanks in part to wimpy Obama who probably knows better but thinks he is playing it smart pretending that cutting spending during a severe recession is somehow good or middle of the road. zero % social spending cuts 50% war "defense" spending cuts Use the 50% war spending cuts to rebuild American infrastructure instead of Iraqi and Afghan infrastructure we destroyed. No need to keep replacing the inventories of cruise missiles at one million a piece. A return to tax rates pre-Reagan or those of middle of the road Euro social democracies Use the increased taxation to start a crash renewal energy program, start subsidizing public education including colleges as was done pre-Reagan. If the increased taxation is not enough to rapidly start the switch to renewable energy borrow a couple of trillion more per year on the bond market. Again contrary to prevailing conservative wisdom some infrasture borrowing is very sound finance. The resulting employment and savings will more than help pay for the increased debt.
Depends on if your definition of the American dollar after borrowing "a couple of trillion per year" fits as money. also, to the best of my knowledge, photoshop is still not a crime.
Didn't I read somewhere we still looking for Billions lost in the recent war effort Much that is .. unaccounted for . . . We need better government accountants Rocket River
It's actually both. Revenue is a problem in that we're in the lowest levels we've had in a long while. But spending and the size of government is currently set up to skyrocket over the coming years - far bigger than it's ever been before relative to the economy (outside of WW2, I believe). You can't fix the problem without both. Obama hasn't proposed spending cuts in the middle of a recession - in fact, he's railed against that. His focus has always been long-term spending cuts but nothing significant short term.
I agree completely that this country needs to greatly reduce military spending. As for the social spending, the people who have become completely dependent on welfare programs are going to be the people who are hurt the most when this country does go bankrupt. I honestly do not see how the country can stay solvent with the massive debt and endless deficits. People who rely on the government for everything will be in the most trouble when the government goes broke and can't support them any more.
Ethanol subsidies were proposed by and for the Archer Daniels Midland Corporation. With a fiat currency, where you print the world's money, you don't ever go bankrupt, you just print more money; the consequence is inflation, not insolvency. The Military spending is how you ensure that you remain the world's currency.
