Look for HUGE future Budget Deficits adding to the National Debt

[Care4all]

Unless some miracle happens, look for government layoffs....streamlining.

It is going to have to take place because this world wide recession is here for a while and this means less taxes will be collected by our government which is already running at least a $500 BILLION yearly deficit as is....

And the States will have less money also, due to the recession....and they have to balance their yearly budget, I believe, so there is no means to over spend their revenues, unless the Fed gvt bails them?

Anyway, government benefits will be next...like SS and medicare...

but it should be the gvt employees that get hit first with downsizing imo, like with any business...payroll is a huge portion of company expenses...sure, we can pinch here and pinch there in the budget to get some savings, but employee cuts are the quickest way to reduce overhead...

Now is not the time to increase taxes...but how else will government get the money for the necessities or the mandates? continue to borrow?

What a dilemma!

care

 

[Truthmatters]

Yeah they really screwed the pooch huh?

 

[editec]

Yes, the neo-cons dream of starving the beast seems to be working.

I wonder how many current middle class supporters of the Masters who are starving the beast will continue to support their libertopian nightmare when they realize the full implications of their federal, state and local governments going belly up?

Very few, I imagine, very few, indeed.

 

[Care4all]

Yeah they really screwed the pooch huh?

yep! and still screwing it...tm

 

[Truthmatters]

The pooch screwing that will last a generation.

I wish this meant the edn of trickle down economics and deregulation.

Unfortunatley some people like to be peed on while someone screws them.