Skip to comments.The budget deal passed in the senate
Posted on 12/31/2012 11:12:25 PM PST by null and void
click here to read article
OH MY! Methinks you forgot the sarcasm tag :)/s
So when you don’t deal with the house it can still be called a budget?
It can be called anything Minitrue wants to call it.
They can all just KMA and BIH.
Nope. SS needs to be fixed. As it is, all the non-boomer generations have greater debt loads, higher taxes and lower compensation that boomers received.
Who’s going to pay for it all? Not us.
I hope you are right.
Getting rid of illigals child tax credits would be great.
According to the Wash Post they voted NO to their own raise.
Lotsa luck with that....
The eight who voted ‘nay’ are:
Three didn’t vote:
I’m disgusted both my senators (Alexander and Corker) voted ‘yea’. I had hope for Corker since he raised cain all day. Shoulda known he’d turn around and let us down.
I have zero hope for the GOP after this, none.
How about restrict it to those who are citizens?
There are about 2 TEA Partiers in the Senate and about 22 in the House.
I’m not surprised at all, that the GOP would rant and rave for our benefit and then cave completely.
How much does SSN add to deficit?
Tax cuts are permanent
I’m not surprised either, to be honest. But it would have been nice if just ONCE they’d followed through; done the right thing.
Too much to expect.
If you haven’t read this, you should.
Watch the numbers.
“In Fiscal Year 2011, the federal government collected $2.303 trillion in tax revenue.”
“Interest on the debt that year totaled $454.4 billion,”
That means that around 19.7 percent of the budget is eaten up by debt interest. The US is not yet bankrupt, yet. But we are getting there. It would be like earning 50k a year before taxes and paying some 15k in credit card interest alone.
“mandatory spending totaled $2,025 billion. In sum, mandatory spending plus debt interest totaled $2.479 trillion exceeding total revenue by $176.4 billion.”
Supposing Obama froze government spending to 2012 levels, we are still spending about 108 percent of the current budget based on mandatory spending alone. That’s a deficit of 8 percent. Not great but manageable.
“For Fiscal Year 2012 which just ended 37 days ago, that shortfall increased 43% to $251.8 billion.”
That’s a deficit of close to 12 percent. Unsustainable. That’s BEFORE all the discretionary spending.
“they could cut the entirety of the Federal Governments discretionary budget no more military, SEC, FBI, EPA, TSA, DHS, IRS, etc. and they would still be in the hole by a quarter of a trillion dollars.”
And that’s just the way things are now! SS and other entitlements are predicted to expand at twice the rate of inflation.
The young people are fucked. We are going to get crushed by either entitlements or debt. Or both.
I understand the budget. I have read the article. SSN is a losing argument because it is the ONE entitlement not adding to the deficit now. It is not expected too until 2030 or so depending on which numbers you are looking at. Medicare is a huge drain. Military also has to be cut if we are serious about reduction.
What a farce our Government has become.
God bless you for your vigilance over New Years Eve, null and void.
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