Let this article sink in
If true then - well then I don’t know what happens. We sink
Scary
Large as “cuts” of $2.9 trillion might appear, in fact they’re minuscule compared to Washington’s embedded (“baseline”) plan to spend $45.8 trillion over the coming decade (2011-2021), as recently forecasted by the independent Congressional Budget Office (CBO). In the past decade (2001-2010) Washington spent $28.3 trillion, so “baseline” outlays in 2011-2012 would entail a decadal increase of 62%. That’s not the biggest spending boom in U.S. history, but neither would it be anything close to “austerity,” as many critics claim.
Even the most “radical” GOP plan, to “cut” $9 trillion, would boost federal outlays by 30% in the coming decade versus outlays in the past decade, while the most modest GOP plan, to cut a mere $2 trillion, would boost outlays by 55%. Yet Democrats lambaste GOP plans as “Draconian,” prone to trigger a “depression.”
http://blogs.forbes.com/richardsalsman/2011/07/29/washingtons-budget-cuts-would-boost-spending-50/
“Let this article sink in
If true then - well then I don’t know what happens. We sink.”
http://blogs.forbes.com/richardsalsman/2011/07/29/washingtons-budget-cuts-would-boost-spending-50/
I agree. Unfortunately people are so busy celebrating “a deal” that they don’t look at what the deal really is.
We are on a downward spiral and unless we elect a fiscally responsible president and Congress, who also have some courage, we may be passing the point of no return to become a third world country and nobody will bail us out, you can be sure of that.