$5 Trillion Price Tag for Public Pensions~ When is enough enough?

[the2real4mafol]

mrstickball said:

Wh1pL4shL1ve_007 said:
Tax cuts was what bought USA to deficit. Obama can do whatever the hell he wants to dig USA out. Be it tax rise.

Not quite true.

Federal tax revenue is at about 16% of GDP - down from a 50 year average of about 18.5%. Spending is at 26% of GDP - up from an average of about 19% of GDP.

Tell me, which one do you think causes more deficits? Revenues being down 2.5% from their historical average, or spending being up 7% from historical averages?

It's a clear a combination of tax cuts and higher spending, proved disastrous for the debt in the US, higher taxes and lower spending (eg army) are needed