Posted on 04/20/2011 10:22:20 AM PDT by bestintxas
“$ 55 Billion is chump change.”
I agree that $55 billion is a rather small part of the budget picture. However, $55 billion represents a very large problem because SS was supposed to run a surplus until 2017. In addition, SS expenditures have been moderated for several years due to no COLA. SS expenditures will soon become a major driver of government spending especially as inflation accelerates. SS and federal pension COLAs will explode spending in these two areas.
My head is exploding over the enormous amount of government spending. I just wish that the majority would see the light.
This piece is such a detailed analysis that it will take a week with no sleep, and straight out rereading, to absorb and understand.
Bookmark.
Actually very easy to understand.
Quote from a business radio show. Paraphrased.
“When your expenses outstrip your income, your upkeep becomes your downfall.”
“piece is such a detailed analysis that it will take a week with no sleep, and straight out rereading, to absorb and understand.”
I did read some of it, got a headache, but was interested in the fact that it points to Obama as the point of entry when the debt became heightened to unmanageable, as some out there are saying Bush caused the deficit...no surprise. Want to go over it more thoroughly at my leisure, in between headaches from it, of course;)
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