Quote:
Originally Posted by JimJoe
The sad thing is that both the Dems and Repubs are lying to us. These proposed 4 trillion dollar deals are over 10 years.. that is means IF and they wont.. but if those were true cuts, the deficit continues to grow... and grow..
It cannot be solved, until the budget is frozen, and they reduce the budget an additional $300 billion each year until the budget is balanced.. and then we must begin paying off the 14.3 trillion debt.
It will never happen because that means the federal budget must be reduced by 40%..
JJ
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You're right JJ. Even if the most aggressive proposal mentioned so far--a $4 trillion reduction in the deficit over ten years--
the national debt would still increase by about $6 trillion over that period.
Beyond that, all that people want to talk about is the $14+ trillion national debt. That number represents borrowed money, but it does not include any of the unfunded liabilities of the country (for Social Security, Medicare, the prescription drug plan, Medicaid, etc.). If you add in the unfunded liabilities our actual debt is about $54 trillion. That's more than four times our gross domestic product. Put another way, if our deficit spending were simply stopped right now, everyone in the country--people, companies, everyone--would have to work for more than four years with all their pay going to the government just to pay off our existing debt!
I guess I'm just flabbergasted that so many people--many here on this forum--simply refuse to recognize the dire circumstances we face and continue to want to make this a political or ideological argument. It's not that at all--it's simply
arithmetic!