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PS: I expect USA to do the same thing, a minor tweak to our spending and taxes can quickly stop deficit spending. The Congressional Budget Office predictions w
by shpxnvz 17y ago
PS: I expect USA to do the same thing, a minor tweak to our spending and taxes can quickly stop deficit spending.
The Congressional Budget Office predictions were for the combined deficit for the next 9 years to be $9.27 trillion, and half of that from new spending. Those "tweaks" you are counting on to stop deficit spending don't seem to be so minor, and aren't even going in the right direction.
- Retric 17y agoStop fighting wars in the Middle East and then double check those numbers. http://www.usgovernmentspending.com/federal_deficit_chart.html http://www.usgovernmentspending.com/federal_deficit_chart.ht... http://www.usgovernmentspending.com/defense_chart_30.html http://www.usgovernmentspending.com/defense_chart_30.html Also breakeven is having the national debt grow as fast as inflation even though CBO considers that a deficit. 12 trillion * .03 = 360 billion / year. PS: There is still a gap but doing things like increasing the SS minimum age by 1 year and cutting back on defense spending might hurt but they don't exactly break our society. Next up remove the tax break on charitable donations.
- shpxnvz 17y agoSo, then, the "minor tweak" you are relying on is for the U.S. Government to pull out of Iraq and Afghanistan tomorrow? I don't see any indication of that happening. When the government actually puts any of those ideas into practice I'll be elated. Until then it's nothing but fantasy, and sure as heck no reason to expect that our deficit spending is under control.
- Retric 17y agoI don't expect anything to change quickly. The US federal government is a long way from a true crisis and without that impetus it's far easier for politicians to keep spending silly amounts of money. However, when looking at budget projections you need to realize there is no mandatory spending. “Fixing” SS seems like a deal breaker but we have already increased retirement age with few real grumbles. In the past we drastically cut defense spending with few problems. And despite all the fear pulling out of Vietnam was hardly the end of the free world. So, yes, I think we will pull out of the middle east within 10 years but a few trillion her or there is not going to break the US economy assuming the government can keep paying such low interest rates. The important thing is adjusting future spending so we can keep those low interest rates.