Quantum Windbag
Gold Member
- May 9, 2010
- 58,308
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I detect a certain measure of glee in this fact....As if to say; "well, we can never really pay it back, so fuck it let's party".This imaginary '20 percent across the board' would not alleviate the need to raise the ceiling.
No, it's a wholesale rejection of the argument that "Instead of raising the ceiling, let's just cut spending 20%." The math just don't work out.
Taxes must be increased if we're going to get out of this. It's inevitable. I support cuts too, but we can't exclusively cut our way out of this. There's not enough to cut. A majority of the "Spending" are mandatory obligations.
The only thing that is inevitable is the crash if we keep doing the same thing. The bipartisan commission mapped out a way to reduce the deficit without any major cuts or tax hikes. They mostly eliminated loopholes and tax subsidies and credits, and made some modest and comparatively simple cuts in planned spending. Nothing the proposed would require drastic action, and nothing near a 20% across the board cut.
Yet both sides of the debate ignore that report because it does not fit their preconceived ideas. You should check out their report before you declare what is, and is not, inevitable. We need to fix taxes before we raise them.