Quote:
Originally Posted by zimmy
Can you point out a relatively nonpartisan economist that thinks we can fix our debt problem at this point by cuts alone? I can't find it. I hear politicians say it, but that is mostly because they are looking to incite their voters. The #'s don't add up.
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That's a fair question, and the answer is "no", I haven't heard any leading economists say that. But I have heard conservative legislators say it, and I also trust my own common sense.
I see a small iota of that waste every day, and so does everyone else who has eyes. The entire stimulus bill ($800B) was essentially useless pork...it's not like lots of new highways or bridges went up.
Tax revenue in this lousy economy, I believe is around $1.5 trillion. The federal budget in 2000 was around $1.5 trillion. In other words, to balance the budget, we need to get spending back to what we spent in 2000.
Can that be done? Certainly. Get rid of wasteful defense programs, Medicare fraud, start cutting services to all the illegals. Reform the tax code so that EVERYONE pays SOMETHING. I think 35% of citizens pay $0 federal income taxes? The folks at the top of that range can pony up a little, they use the roads too, and they rely on the military. It won't be easy, but I am positive we can do it without raising taxes.
The homeowners deduction will not be eliminated while the GOP controls the House. They won't let it happen. Even if they had to filibuster it, they would do it.
I can't believe Obama is even considering that. He's amazing, he cannot even get one right by accident.