[kabar]

Here is the reality. We take in about $2.2 trillion in tax revenue from all sources. This just covers our entitlement spending and debt servicing costs. Our total budget is $3.5 trillion. The remaining $1.3 trillion to operate the entire government, including DOD, is borrowed.

So how do you balance the budget this year or next? We will have to raise our debt ceiling regardless. We need a long term plan to cut spending, but it will not happen overnight.

[marron]

We take in about $2.2 trillion in tax revenue from all sources. This just covers our entitlement spending and debt servicing costs. Our total budget is $3.5 trillion. The remaining $1.3 trillion to operate the entire government, including DOD, is borrowed.

What was our budget in 2008?

[MontaniSemperLiberi]

“We need a long term plan to cut spending, but it will not happen overnight.”

Why not?

At Obama’s spending rate we will reach the default limit for our debt in three years. At most Republicans’ spending rate we will do it in five.

How long is your long term?

To knowingly support either option while knowing the consequences is _ _ _ _ _ _?