Looks Like the Public Isn't Interested In Cutting Spending

[Synthaholic]

Clearly, people support Socialism until we lose our credit rating, run out of money and pay $8/gallon for gas, then it's "what the fuck were we thinking???"

I don't think you know the definition of 'Socialism'. If you did, you wouldn't be associating it with Obama.

 

[The Rabbi]

Clearly, people support Socialism until we lose our credit rating, run out of money and pay $8/gallon for gas, then it's "what the fuck were we thinking???"

I don't think you know the definition of 'Socialism'. If you did, you wouldn't be associating it with Obama.

I thin he does. I think the association with Obama is pretty spot on.
Under socialism doesnt the gov't have a major say in corporate governance? Yep, I think so.
Obama administration attempting to force out CEO over marketing violations « Hot Air

 

[Big Fitz]

No. The goal should be to bring the deficit below projected GDP growth, about 400 billion. The cuts in the deficits can be spread over 10 years. It took us about 10 years to get into this mess, so I think that is the appropriate time table to get us out. Also the current and projected growth in GDP will increase tax revenues. I think a 450 billion/yr cut plus 450billion/yr increase in revenues from tax is need.

Where, exactly do you think you can get +$450B/yr in revenues?
Lay our the income brackets and the tax rates.

Also, your idea leaves $600B in deficits.

By just allowing the Bush tax cuts to expire, the CBO projects a Deficit in 2014 of 533 billion down about a trillion dollars from 2011 and rising to 739 billion in 2020. If we got out of Afghanistan and Iraq this would cut another 150 billion/yr. The deficit is a very solvable problem. We just have to decide on a plan.

The CBO's baseline budget outlook has the United States posting a deficit of no less than $533 billion between now and 2021. The outlook looks like this:

2011 - $1.48 trillion deficit
2012 - $1.1 trillion deficit
2013 - $704 billion deficit
2014 - $533 billion deficit
2015 - $551 billion deficit
2016 - $659 billion deficit
2017 - $617 billion deficit
2018 - $610 billion deficit
2019 - $696 billion deficit
2020 - $739 billion deficit
2021 - $763 billion deficit

According to the CBO, the projections "are based on the assumption that tax and spending policies unfold as specified in current law. Consequently, they understate the budget deficits that would occur if many policies currently in place were continued, rather than allowed to expire as scheduled under current law."
CBO: $1.48 Trillion Deficit Expected For 2011

You don't get the connection between raised taxes and decreased economic growth, do you.

Second, every plan that does not reduce the deficit to a NEGATIVE number is a failure. Till you do that, the debt will grow.

Do you understand that?

The deficit in the following years according to the CBO (assuming straight line growth of the economy AND no effect of the lapsed Bush taxcuts) would have the federal debt to increase to somewhere around 20-22 trillion dollars.