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Thread: Americans Blame Wasteful Government Spending for Deficit

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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by Goldenboy219 View Post
    2010 federal revenue @ 14.7% of GDP = $2.16 trillion ($1.29 trillion)

    2010 federal revenue @ 17% of GDP = $2.48 trillion ($0.976 trillion)

    2010 federal revenue @ 20% of GDP = $2.92 trillion ($0.536 trillion)
    So what? You want to raise taxes by 33% to still run a half trillion dollar deficit and somehow have an economic recovery? ****ing ****t.
    Last edited by reefedjib; 05-05-11 at 08:44 PM.

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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by UtahBill View Post
    Don't be fixing what isn't broke. The War on Terror is OUR war, the war on Iraq was Bush's war. OTOH, God told him to do it, so he doesn't have to take all the blame...
    Bollocks, he led us there, but we own it. We re-elected him. It turned out pretty well, too. I am glad we did it. I mean, surely you don't think all of the current turmoil in the ME/NA is a result of Al Jazeera, do you?

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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by washunut View Post
    Why do you mention that social security is taxed and should be viewed seperately, but not medicare which is also taxed seperately?
    You're correct. Medicare is funded, in part, by a payroll tax. It's not enough, however, to cover the cost of health care provided to Medicare beneficiaries.

    Quote Originally Posted by washunut View Post
    Also your claim about apathy for medicade because it helps the poor, are you saying that NE legislators which are predominately democrats as well as in Calif care little about the poor?
    Even Democrats are politicians. While they're better than Republicans, they'll abandon their constituencies when they have to. Look what Clinton did with TANF and Obama did with the Bush tax cuts for the rich last December.

    Quote Originally Posted by washunut View Post
    In an earlier post you stated that taxes need to be increased. So what percentage of GDP should federal revenues be? It is running about 14-15%, the norm is about 18-19% and federal spending is currently about 24% of GDP.
    Revenue should match spending. Spending at 24% should be funded by tax revenue at 24%.
    Proud to be a tax and spend leftist.

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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by pzycho View Post
    ****ing idiots tend to separate SS into a separate budget item, as if the growth in cost of SS were covered by a "small" tax increase of FICA and a small adjustment to eligibility. Plus, you are counting all those IOUs from the general fund as continuing to fund SS. It is an accounting trick and the reality is we need to look at total revenue and total spending, AND where the GROWTH in spending is and cut. Don't ever think for a moment that the IOUs from the general fund to SS do not represent the fact that SS costs more than FICA taxes are taking in.

    We need to aggressively cut SS, Medicare and Medicaid.
    SS, Medicare and Medicaid are sacred. Any politician who tries to cut them should be treated as all traitors are treated.

    IOUs are what guys give other guys when they can't cover their losses in basement poker games. The securities in the SS Trust Fund are not IOUs. They're US Treasury securities backed by the full faith and credit of the United States of America. They were purchased with funds collected from the American People and we expect to be repaid in full and with interest.
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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by pzycho View Post
    Bollocks, he led us there, but we own it. We re-elected him. It turned out pretty well, too. I am glad we did it. I mean, surely you don't think all of the current turmoil in the ME/NA is a result of Al Jazeera, do you?
    there are several other countries on the other side of the world that are unstable and being led by a dirtbag,
    when do you propose attacking them?
    Oracle of Utah
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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by UtahBill View Post
    there are several other countries on the other side of the world that are unstable and being led by a dirtbag,
    when do you propose attacking them?
    I don't. None of them are strategically important.

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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by Joe Steel View Post
    SS, Medicare and Medicaid are sacred. Any politician who tries to cut them should be treated as all traitors are treated.

    IOUs are what guys give other guys when they can't cover their losses in basement poker games. The securities in the SS Trust Fund are not IOUs. They're US Treasury securities backed by the full faith and credit of the United States of America. They were purchased with funds collected from the American People and we expect to be repaid in full and with interest.
    US Securities are IOUs. If we can manage to keep our credit rating high, dollars will be cheaper.

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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by pzycho View Post
    I don't. None of them are strategically important.
    The stability of the Middle East should be accomplished by the Middle East, not the USA or the UN.
    Certainly the Suadis have the strength militarily, politically, and economically.
    We really are not THAT dependent on ME oil...
    Oracle of Utah
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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by pzycho View Post
    US Securities are IOUs.
    Then any and all financial assets are IOUs. Would you prefer surplus SS funds be invested in any other IOU?
    Proud to be a tax and spend leftist.

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    Re: Americans Blame Wasteful Government Spending for Deficit

    Quote Originally Posted by Joe Steel View Post
    Thanks for the links but I have to disagree.
    i notice that you disagree; but don't address the actual issue which is that there simply isn't enough rich people to balance the budget on their backs

    One of the links you provided included a link to Reducing the Deficit: Spending and Revenue Options. Figure 1-2 in that document (page 19 of the .pdf) is quite enlightening. If we do nothing, over the next 10 years, current law will increase revenue significantly and somewhat decrease expenditures.
    : somewhat decreases expenditures? "current law" includes the notion that we can lower Medicare reimbursement rates by 25% without seeing what the Medicare Actuaries tell us will be the widespread de facto destruction of the program. current law is a joke designed to give politicians sound bites - not a real budget.

    The effect will be to return the deficit to just slightly above its average of the last 40 years as a percentage of GDP.
    until the early 1920's, at which point Medicare and Social Security explode, meaning that those two programs with Medicaid will suck up every single tax dollar.

    In fact, it is the revenue.
    there is no possible way in which we produce over $100 Trillion in revenue above what we already are. The money just isn't there. There isn't enough money in the world to meet our unfunded liabilities. not only is it not the revenue, there is no chance that it could be the revenue.

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