11-11-2010, 08:53 AM | #1 (permalink) | |
Junkie
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Bipartisan Deficit Panel Recommendations
Obama appointed a bipartisan deficit panel to make recommendations for how to lower the deficit to 3% of GDP. They have completed a draft which has been released and it is a mix of across the board spending cuts including entitlements and defense and broad changes to the tax code (tax increases). It will be interesting to see how this plays out. I think we're screwed. People want to cut the deficit but nobody wants to make a sacrifice.
Deficit Panel's Leaders Push Cuts - WSJ.com Quote:
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11-12-2010, 05:43 AM | #2 (permalink) |
immoral minority
Location: Back in Ohio
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I'm going to look into this and read it this weekend. But, I think we need to do everything. Eliminate all the tax cuts, lower SS payments, means test some benefits, reduce the costs per student in schools, reduce medical payments by getting healthier, cut 25% of the military (close bases, bring troops back,...) etc...
It is just like losing weight. A person can stay the same weight by doing a little, but to change your weight you need to do more. Our debt is obese and just doing a little will only keep it around 14 trillion. I just wonder (and China is too) if we are devaluing our currency in order to pay off the debt. (I'll make a new thread about this tomorrow). |
11-12-2010, 07:36 AM | #3 (permalink) | |
Junkie
Location: Greater Harrisburg Area
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Quote:
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11-12-2010, 09:44 AM | #4 (permalink) |
Junkie
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The SS changes are only for keeping social security solvent and don't affect the overall budget.
Once concern I have is if they get rid of the mortgage deduction what happens to families that have a mortgage and are counting on that deduction to pay their mortgage? Do we begin another round of foreclosures? |
11-14-2010, 08:54 PM | #6 (permalink) |
Junkie
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I think it is only fair that everyone should have to pay more taxes in order to get things straightened out. I also agree with cutting entitlement benefits but I think the cuts should start now, not decades from now. The baby boomers got us into this mess, they can make a sacrifice to help get us out of it.
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11-16-2010, 08:35 AM | #7 (permalink) |
Junkie
Location: bedford, tx
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I find it hilarious that all the talk of cutting spending is focused on cutting spending for entitlements to the people, but these government schmucks are avoiding cutting their own budgets like it was the plague.
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"no amount of force can control a free man, a man whose mind is free. No, not the rack, not fission bombs, not anything. You cannot conquer a free man; the most you can do is kill him." |
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bipartisan, deficit, panel, recommendations |
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