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Originally Posted by zimmy
Pesc. I am pretty much right in line with you on what you said. Only thing I want to add is that non-defense discretionary spending is under 500 billion. When party leaders say publicly they are going to cut 1trillion from the budget, but not cut military spending, they can't explain how to do that. Again, it is something that sounds good, but it isn't possible. they aren't going to cut 500 billion, as that is all non-defense discretionary spending and they certainly aren't going to be able to cut 1trillion from the budget. The deficit is going to grow and tax loopholes for big business are one thing that needs to be fixed. You make good points about how the taxes can affect other revenues, but from a true competitive free market standpoint, it is an uneven playing field that benefits certain companies and industries more than others. I believe the groups with true independent or libertarian leaning should want this problem fixed as much as they worry about some of the other stuff.
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Defense spending is expected to be cut between 5-10% per year for the next 5 years. The actual cuts will be deeper as many programs that were maturing to IOC have been cut or moved to the right. Major programs.
Not to mention these programs were "jobs programs" that many congressfolk are trying to keep.
As for the free market, how is the playing field level? China plays with their currency, the EU subsidizes Airbus and other programs. I could go on.
WE, the USA, have a spending problem and we have a buying problem. We spend more than we take in, and as consumers we buy too much from overseas.
Big business fighting for the bottom line ships jobs overseas. Big workers keep their pay and benefits at very high levels. Big population is addicted to government handouts. This is not sustainable. Something has to give.
One of my clients, good people, union shop. Awful lot of foreign cars in their parking lot. I'm driving my creaky old Ford.