As I watch the new political landscape unfold itself like a blooming flower, I am left with some questions. Well...namely one question. One really big QUESTION. How are we going to pay for it? We are going to cut the deficit in half by the end of Obama's first term. We are going to cut wasteful spending. But we are going to bail out companies. We are going to give medical help to people. We are going to help send people to college. All good ideas but how are we going to pay for this. In case you were unaware we are currently operating (we being the United States) in a deficit. In case you don't know that means we have more money going out than coming in. So that means a few things. To pay for these programs we are going to have to (either/or/and) raise taxes, cut spending, print money, borrow money. Cutting the spending is a good place to start. But since it looks like we are spending more than we are cutting I don't think this will make up the difference. What about raising taxes? President Obama just said that if you make $250k/year or less then you will not see your taxes go up. Which means that if you make $250k/year or more then you will see your taxes go up. In my opinion there is not enough money in the rich to cover everything. The really big earners will be smart enough to simply make less money or stop working all together. Which means the middle class will get taxed heavier or we will have to move to the third option, borrowing/printing money. In case you missed this last time I posted it...straight from the U.S. Treasury's website, the U.S. Debt. In case you missed it last time...who we owe money too. If we go about printing more money we will see big time inflation in a few years. Now, I'm no economist so this is just my opinion...but it'll still happen. That's what happens when we print money. The Big Mac holds it's value, but the dollar's value goes down. So the Big Mac has not changed, the dollar has changed. Also, at some point China is going to quit buying our debt and then we will really see some spending cuts...because we will have NO MONEY. Wait we already have no money. So I guess it just means that no one will be lend us anymore, having realized that we are not financially responsible.
(But what about the wreck less spending of the Republicans? This also goes for them. They had no problem with Bush's spending problem [see the wars, see the "security" programs, see the bailouts] but all of sudden oppose Obama's. You hypocrites.)
2 comments:
Saw a great political cartoon the other day that had an elephant waking up with bottles all around him labeled "spending", but ultimately seeing the "light" of economic conservatism. I chuckled. Great question. We will owe. Determining what goes into triage is tough. I do not envy Obama, and suggest a ready dose of prayer for him as opposed to Rush Limbaugh's hopes of his doom. A lot of good that will do us.
I completely agree. Being as I see government as the antithesis to freedom, I'm not crazy about all this government expansion either. However, Rush Limbaugh's idea of freedom and "protecting" the constitution, involves completely ignoring the constitution to put into place a government that only supports his morals and values. Which is completely adverse to the ideas of personal liberties. Basically, Mr. Limbaugh...you sir...are a fascist.
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