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Posted: 3/16/2011 1:28:08 PM EST
We have now gotten to the point — as I noted yesterday — where if national defense, interstate highways, national parks, homeland security, and all other discretionary programs somehow became absolutely free, we’d still have a budget deficit. The White House Office of Management and Budget projects that in the current fiscal year (2011), mandatory spending alone will exceed all federal receipts. So even if we didn’t spend a single cent on discretionary programs, we still wouldn’t be able to balance our budget this year — let alone pay off any of the $14 trillion in debt that we have already accumulated.


http://www.weeklystandard.com/blogs/mandatory-spending-exceed-all-federal-revenues-fiscal-year-2011_554659.html
Link Posted: 3/16/2011 1:30:26 PM EST
Well clearly we need to raise taxes on the rich
Link Posted: 3/16/2011 1:33:23 PM EST

Originally Posted By Phil_A_Steen:
Well clearly we need to raise taxes on the rich

Absolutely. The spending must go on.
Link Posted: 3/16/2011 1:33:38 PM EST
Link Posted: 3/16/2011 1:37:52 PM EST
Virtually all politicians are panty-waisted softies who don't have the backbone to trim, trim, trim.

Let's get rid of Bureau of Labor & Statistics. They're all liars anyway who cook the books to deliver the desired political results.
Let's get rid of the Department of Education. Education has been going downhill since the government got involved.
Let's get rid of the TSA. Privatize them.
Let's get rid of the Dept. of Energy. Since its creation by Carter, dependence on foreign oil has increased.
Let's get rid of FEMA. Let the states handle it.
Let's privatize social security or allow those who want to to opt out.

So many places to cut, so few politicians willing to do it.
Link Posted: 3/16/2011 1:39:39 PM EST
damn, only 50 years?

that ain't that long......

Link Posted: 3/16/2011 1:42:06 PM EST

Originally Posted By 4v50:
Virtually all politicians are panty-waisted softies who don't have the backbone to trim, trim, trim.

Let's get rid of Bureau of Labor & Statistics. They're all liars anyway who cook the books to deliver the desired political results.
Let's get rid of the Department of Education. Education has been going downhill since the government got involved.
Let's get rid of the TSA. Privatize them.
Let's get rid of the Dept. of Energy. Since its creation by Carter, dependence on foreign oil has increased.
Let's get rid of FEMA. Let the states handle it.
Let's privatize social security or allow those who want to to opt out.

So many places to cut, so few politicians willing to do it.
we HAVE to cut entitlements. it really is the only way
Link Posted: 3/16/2011 1:45:44 PM EST

Originally Posted By xwarp:
damn, only 50 years?

that ain't that long......


Actually, it's worse than that...

The White House Office of Management and Budget projects that in the current fiscal year (2011), mandatory spending alone will exceed all federal receipts.

The drain, we are circling it...


Link Posted: 3/16/2011 1:52:13 PM EST
[Last Edit: 3/16/2011 2:32:42 PM EST by Mach]
I am a little confused.

The entitlements already pay out more than all of the federal revenue and that was for 2010.

SS, Medicare, Medicaid and welfare was 2.3 trillion in 2010.

All fed revenue was 2.1 trillion.

Am I missing something?

ETA: yea, I am missing what the article said. I misunderstood it.
Link Posted: 3/16/2011 1:53:43 PM EST
This is my shocked face.

Link Posted: 3/16/2011 2:21:15 PM EST
It's cool, nothing to worry about.

We can't pay for hand outs (please stop calling them entitlements, no one is entitled to anything)

And soon we won't even be able to pay the INTEREST on our debt.

Joy.

Link Posted: 3/16/2011 2:31:50 PM EST


You guys worry too much.

Just enjoy your free Obamacare.

We'll print whatever money we need. A loaf of bread my cost $1000, but hey, we'll be able to pay the interest on our debt.

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