Posted on 12/10/2010 11:42:41 AM PST by Free ThinkerNY
WASHINGTON (AP) -- The federal budget deficit rose to $150.4 billion last month, the largest November imbalance on record.
And the government's deficits are set to climb higher if Congress passes a tax-cut plan estimated to cost $855 billion over two years.
(Excerpt) Read more at hosted.ap.org ...
Oh? Are rates going to be decreased from their current levels? I didn't know that was under consideration.
maybe they shouldn’t spend money they don’t have like most Americans who live within their means...
Looks like the new congress will have to cut 100 Billion a month!!!!
One of the first things they teach you in English class is that you do not start a sentence with a conjuntion.
Do these ‘journalists’ not learn anything?
Low taxes and high spending won’t bring down a deficit? Who new?
Sorry -—
Do these ‘journalists’ learn anything?
Even the Romers knew if you increased taxes, you lower GDP, meaning you still collect less!
The evil side of me wishes they would raise taxes on us all just to prove my point! (But that would be breakin’ the law! -Hauser’s law that is!)
word is that a new agreement on the tax bill will add a bunch more spending to it. If the republicans vote for it then they are dirt in my book too.
Notice the POLITICIANS and social dependents are sacrificing NOTHING. They get to keep their mansions, fine wines, steak dinners, and limousines. The lazy, do nothing welfare slugs still get their free apartments, free food, free clothes, color TV's, computer access, medicine, education.......
The ONLY people being forced to sacrifice are the ones who carry all the weight for the rest! Shouldn't it be the other way around? Shouldn't government and social dependency be cut BEFORE the tax payers are asked to help?????
“...And the government’s deficits are set to climb higher if Congress passes a tax-cut plan that’s estimated to cost $855 billion over two years.”
Maybe I’m missing something here, but didn’t the House just pass a 1.2 Trillion dollar budget deficit for 2011? But of course, to the AP, it’s “tax cuts” that get all the blame for rising deficits.
Hold on now. How are the increases in deficit related to passing a compromise that keeps current rates the same for the most part?
“And the government’s deficits are set to climb higher if Congress passes a tax-cut plan estimated to cost $855 billion over two years.”
The lies continue from the leftists. Might want to cut spending to get back into compliance with the Constitution.
My thoughts:
This article ought to be used to hammer home the essential point about this whole issue that just isn’t being made. This isn’t a revenue issue and has never been a revenue issue. It’s a SPENDING issue. With the exception of a few GOP Congress controlled years, in the last 60 years our government has consistently spent more than it has received in revenue. It basically makes revenue irrelevant in the equation; it doesn’t matter how much or how little the government takes in, they will spend more than that amount. If they project a revenue increase of X with a tax hike, they will wind up spending 2X or 3X more the following year. And of course, the tax hike will never bring in X, it will bring in .7X because the increase depresses economic activity and they are using phoney-baloney numbers anyway.
Taxes and revenue are irrelevant to what should be the focus of this debate because Congress has made them irrelevant. Of course, our Congress wants it that way.
This was breaking news on MSNBC....apparently now they will outraged over deficits since we didnt raise taxes.
In a single month, every American borrowed another $490, plus the present value of the interest that we’ll pay on this amount for decades.
Also, it means that we are right on schedule to hit a total national debt of $14 trillion right around the end of this month or the beginning of next. (We were at $13,846,494,847,569.86 as of December 9th.)
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