Record Deficit Requires Attention: No Kidding
The White House predicted that the budget deficit would reach $1.47 trillion this year; the government is borrowing $.41 for every dollar it spends. Next year it will be $1.42 trillion, which is $150 billion more than predicted.
White House budget director Peter Orszag said the numbers represent a “fiscal situation that requires attention.”
“A fiscal situation that requires attention.” If that’s the case, then a root canal provides some discomfort. The deficit requires a lot more than some attention. It requires cuts in spending. Most notably, it requires the gradual phasing out of the three socialist monstrosities set loose on this country by liberals: social security, medicare, and medicaid. As Obama’s debt commission has stated, those three entitlements absorb every penny of revenue. Get rid of them and start over.
Such responsible behavior won’t happen though. Instead, everyone can expect their taxes to go up. Why? Because that’s the government’s answer to everything. Keep in mind, those in all the leadership positions actually believe that “the Bush tax cuts weren’t paid for.” As if allowing us to keep more of our own money somehow equates to government spending.