Its sad when a coutry has roughly a 1.3 Trillion $ deficit. last numbers I saw U.S. Government Revenue is around 2.16 Trillion $, but Expenses are around 3.45 $ Trillion. This is bascially like saying...
"From my monthly income I make $2,100, but in terms of my bill sand purchases Im spending $3,400." Any normal person would be in a huge mess with this kind of budget. Would you live your life like that?
There is NO WAY the government can Tax the difference out of the people. The figures and tables do not add up. Even if you were to raise the top tax bracket from 35% to 70%, and even raised all taxes across the board by at least 10% you would not make up the difference. Not only would the revenues fall short, but you would also spiral our economy into a very deep depression, because the rich will hot create jobs and will even cut jobs to keep things as stable as possible. People would spend less money, because they have less money in their pockets. No my friends raising taxes will not solve this huge deficit gap. We must come to grips that our government has a huge spending problem. These are the totals of what the U.S. spent in 2010: Medicare and Medicade $793 Billion, Social Security $701 Billion, Defense $689 Billion, Discretionary Spending $660 Billion, Other Mandatory $412 Billion, and Net Interest on debt $197 Billion. These numbers are absurd. Something HAS TO BE DONE, or its going to get much worse.
Real cuts have to take place, because we cannot sustain this even with increased taxes which would just slow our economy down even further. We are becoming more and more dependant on entitlement programs. I personally dont think that is what Governments role is. Its not what most of the founders of this country believed in. I dont think you can really just look at this and say, "Ok, then lets just cut Medicare/medicade and Social security from the picture." I think our country has gotten so intertwinned with those programs that doing that would crumble and destroy many American lives. I think there initially needs to be some painful cuts in some of these programs, but also keeping them sustainable. I think we need to look at alternatives, and seriously fixing this.
We have two options. Either continue down this road and pile on debt and deficits farther than can ever be sustained, or we begin to make real painful cuts in a responsible manner. Too many people think that the United States is an endless bank with all the money any country could need. Far be it from the truth that we think ourselves in that regard. The United States is on a path of toppling over on its face if changes are not made. I know some countries are cheering for that, because they are tired of seeing the United States so prosperous. Well, over the past couple of decades we have been hiding our problems by spending money we dont have. This is serious.
