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Posted: 3/16/2011 2:28:08 PM EDT
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 2:30:26 PM EDT
[#1]
Well clearly we need to raise taxes on the rich
Link Posted: 3/16/2011 2:33:23 PM EDT
[#2]



Quoted:


Well clearly we need to raise taxes on the rich


Absolutely.  The spending must go on.  



 
Link Posted: 3/16/2011 2:33:38 PM EDT
[#3]
Link Posted: 3/16/2011 2:37:52 PM EDT
[#4]
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 2:39:39 PM EDT
[#5]
damn, only 50 years?

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

Link Posted: 3/16/2011 2:42:06 PM EDT
[#6]



Quoted:


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 2:45:44 PM EDT
[#7]





Quoted:



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 2:52:13 PM EDT
[#8]
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 2:53:43 PM EDT
[#9]
This is my shocked face.

Link Posted: 3/16/2011 3:21:15 PM EDT
[#10]
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 3:31:50 PM EDT
[#11]

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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