[Innovative]

Here come the tax increases...

[Lurker]

Wow. Nothing gets by the finely honed intellects over there at the CBO.

[KarlInOhio]

Sunset risks darkness at night.

[Mr. K]

So...

We are F*&^ed if we do and F*&^ed if we don’t?

Thats just F*&^ing great. Everyone have their torches and pitchforks handy? And tar and feathers?

[almcbean]

“That’s like having $50,000 in debt on a $50,000-a-year salary”.

That’s a wrong statement, and leaves the impression that it’s not that bad.

This is the federal government’s debt we’re talking about, and the author is comparing it to the economic activity of the entire nation. The Government’s “income” is currently about 2.3-2.4 trillion, and if its debt becomes equal to 100% of GDP, that debt is 14 to 15 trillion.

So it’s more like having a $350,000 debt on a $50,000 income.

[bolobaby]

That’s NOTHING like having $50k in debt on a $50k salary.

Here’s a more apt analogy.

It’s like working for a company that makes $1,000,000 a year, earning $282,000 a year, and having *$1,000,000* in debt.

See?

The government’s income is NOT GDP. The government’s income is the percent of GDP it taxes.

(According to the Heritage Foundation, U.S. taxes are 28.2% of GDP.)

[PubliusMM]

“He warned that making budget cuts too deep, too fast could be “disruptive” to the economic recovery at a fragile time.”

OK...I’ll buy that. Let’s spread ‘em out, then. Say, over the next two weeks?

[SaxxonWoods]

Our highways and bridges are falling apart and we are out of money.

What to do?

High Speed Trains!

[Gabrial]

There is no “risk” of a fiscal crisis - it is here already in spades.

[Gabrial]

There is no “risk” of a fiscal crisis - it is here already in spades.

[Gabrial]

We need to do massive cuts in government spending just like the Brits are doing now. They are cutting everything. Even funding for the BBC.

[Chode]

and America takes another one in the........

[Sparky1776]

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