Debt Deal: Brace for massive spending cuts

Discussion in 'Politics' started by JimH52, Jul 4, 2011.

  1. JimH52
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    JimH52 Gold Member

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  2. The Rabbi
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    The Rabbi Diamond Member

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    What do I call $1T in budget cuts? A good start.
    Obama raised the budget by $1T with TARP continuation, ARRA, Cash for Clunkers. Cash for Caulkers, Cash for Unions Workers etc.
    Getting it back to something resembling reality sounds pretty good to me.
     
  3. JimH52
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    JimH52 Gold Member

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    This deficit is not all Obama's. There has been years of abuse by both parties. Like the war in Iraq that wasn't necessary. This deficit has been years in the making and it will take years to address.
     
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  4. Mr. H.
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    Mr. H. Diamond Member

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    Add to that:
    Let the Bush tax cuts expire.
    Go after the $300 billion in unpaid taxes each year.
     
  5. Avorysuds
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    Avorysuds Gold Member

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    As I said, Obama takes what the Reps give him or he defaults on the country. Good for the Reps if they do big huge cuts, if not, figures. We'll just have to see though.
     
  6. JWBooth
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    JWBooth Gold Member

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    The GOPers will cave first.
     
  7. iamwhatiseem
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    iamwhatiseem Gold Member

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    I don't think they will do it.
    I think if anything - both sides have agreed to give a little to each other and delay, delay and delay.
    In other words - small and meaningless tax hikes - and spending cuts that will sound big but be spread out over 10 years and not truly address the problem so we will be dealing with it again in only a few years.

    Sorry - I cast a vote of no confidence with either of these two.
     
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  8. JimH52
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    JimH52 Gold Member

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    I don't know. But I do expect some token revenue increases, with the elimination of some gaudy tax loopholes.

    But I do agree with Bill Clinton. Obama needs to stay his ground.
     
  9. JimH52
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    JimH52 Gold Member

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    It is terribly sad when the health of the "political party" overrides the well being of the country.
     
  10. uscitizen
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    uscitizen Senior Member

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    this is all fun to watch.
    And esp to watch who whines first about the results of cuts.
     

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