President Obama has proposed a 10 year budget that calls for something like $10 Trillion in new debt.
Paul Ryan has proposed a budget that, for all the talk about slashing spending, calls for something like $5 Trillion in new debt over the next ten years.
Obviously, there are clear differences and major divergences worth debating. My question is...why are these our only choices? Why are we totally unwilling to demand that our leaders produce some plan that calls for ever balancing the budget? Where is the voice that is offering a 10 year budget that calls for $0 in new debt, or even retiring some of the debt we have?
Am I missing something?
Friday, April 08, 2011
Budget
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6 comments:
I COULDN'T AGREE MORE.
I'm really confused too.
I'm also more confused about why American Idol BS is literring the news when we're starring a potential gov't shut down directly in the face.
I really don't know how they work these things out but from what I do know I think it's actually impossible for a government not to have new debt. Everything they do costs money and to be honest I think they'd have to slash everything and hike taxes waaaaaay up to make them completely debt-free.
Laurwilk - Quit being a student and spend more time on gChat.
This is me - Good point...I thought that girl kinda sucked anyway:-P
Ys - It is very possible. Governments work just like you and me...if they spend more than they earn, they incur new debt. If they earn more than they spend, they retire debt. Ours currently has absolutely no intention of ever spending less than it takes in, and that is as obviously a problem as it sounds like. And you are right...there are only two ways to solve this: tax more and/or spend less. There are no other solutions!
I don't understand why a budget that creates more debt is unacceptable.
My checking account doesn't work that way!
Shame on mainstream media for not expanding further beyond telling us the budget calls for additional debt. Aren't they perfect channels to further educate us on what's clearly a very complex topic? Sigh. But, I do agree with you ... a balanced budget would be nice.
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