Quote:
Originally Posted by justplugit
Ya, hate to admit it but I have been thinking the same thing recently.
Cutting spending and raising taxes could bring both parties in Congress something
to bring them closer to action.
In a better economy it would be a no brainer, but in this economy
raising taxes is a two sided sword.
Iv'e got a feeling Obama will want to spend big now and raise taxes too.
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There is a place for raising taxes but it is after cutting spending and growing jobs. The problem is that Guvmint only knows how to spend, they don't know how to save.
The argument that sometimes you need to borrow more money than you take in to spur growth and get through bad times is valid but there needs to be a time when you cut costs and pay off some of that largess. Our deficit is forecast to be double out GDP during our lifetime. During WWII it was not double GDP. The politicians spending and promises of the last 30 years has gotten us here.