Talk of The Villages Florida - View Single Post - Do We Realize How Deep The Doo-Doo Is?
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Old 03-20-2009, 08:40 AM
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Ironically, there are several sources of federal revenue to pay down on the debt other than taxation of the citizenry, but these sources require less tree-hugging (or equivalent) and more pragmatism.

New Oil leases (off-shore and fedral reserves) are a prime example.

Equalized trade agreements (especially with communist regimes) are another.

I'm sure we can all think of several more such options.

As one learns in personal finance, there's more than one way to balance a budget, and one cannot expect a "raise in pay" from the employer (in this case, more taxes paid by the citizenry) to do it. Spending reductions, new sources of income, and other trade-offs must work in unison to achieve fiscal solvency.

It's really that simple - and requires discipline. However, politicians base their election campaigns on the precept that the public wants everything, and also wants it to be paid for by someone else. Just tell them they can have it all with the "other guy" picking up the tab, and you too can have 15-20-30-40 years as a congressperson!