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Unread 09-18-2011, 11:39 PM   #1
ChroniC588
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Default $ 3 trillion by raising taxes and cutting spending

To be honest...I am interested in Obama's plan. Repeal the Bush era tax cuts...should be across the board, not just for those over 250k. Everyone needs to pony up for the bill.

And cuts in major programs. It's inevitable, and necessary. No one is spared.

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However...I find some of his projections unrealistic. They continue to assume they can squeeze savings in Medicare by demanding service providers provide more care for less reimbursement...that wont work.

Still the nightmare is even if he does figure out ways to save $ 3 trillion, that is just $300 billion/year when we are burning in excess of $ 1,500 billion/year. We still are overspending by a $ 1,200 billion/year and on course to double our national deficit to in excess of $ 25 trillion by 2022!

I remember when the national debt was just $ 1 trillion in the 1980s. We will hit $ 25 trillion by 2022!
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Unread 10-19-2011, 09:05 PM   #2
Nick
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I like the tax cuts, but the ones for those earners over 250K will be tough because sole proprietors of small business will fall under that one... While those who earn more than 250K should pay more taxes than what they are currently paying now, I do not think it should exceed more than 2% over the middle class rate now... As for the spending cuts, that will be necessary also, but a friend of mine pointed one more thing that is being pushed off to the side that should be done, and that is streamling government services and process to reduce wasteful spending in the first place...
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Unread 10-20-2011, 08:59 PM   #3
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heck, 3 trillion is nothing.

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