How bad is it?

[tmleadr03]

[lifeon2]

I think his outlook is too simple you need to look at each expenditure in separate pieces rather than its lumped total. I would be willing to bet that there are more ways to cut spending than he has looked at. The pens used by the potus cost between 100 and 200 dollars. http://www.cross.com/catalog/collect...ookieSupport=1

Since he uses several pens per signature http://washingtonscene.thehill.com/i...gn-healthcare-

In this case 20 lets give it an average of 150 per pen that is 3000 dollars of tax money used to sign one bill. How often he signs is not something I care to look up but you can bet his pen spending is in the millions by the time he leaves office.

It is my opinion that the budget can be balanced but it would have to be pulled apart into each separate expense which would probably take several years.

[tmleadr03]

I think his outlook is too simple you need to look at each expenditure in separate pieces rather than its lumped total. I would be willing to bet that there are more ways to cut spending than he has looked at. The pens used by the potus cost between 100 and 200 dollars. http://www.cross.com/catalog/collect...ookieSupport=1

Since he uses several pens per signature http://washingtonscene.thehill.com/i...gn-healthcare-

In this case 20 lets give it an average of 150 per pen that is 3000 dollars of tax money used to sign one bill. How often he signs is not something I care to look up but you can bet his pen spending is in the millions by the time he leaves office.

It is my opinion that the budget can be balanced but it would have to be pulled apart into each separate expense which would probably take several years.

3000 dollars is 1.875 x10 to -10 of the debt. Unless you are talking about the unfunded liabilities then it is an even smaller number.

[cstone]

This video presents a very simple explanation. Here is an even simpler solution: When you find yourself in a hole, and you do not wish to go deeper, the first action must be to stop digging.

I will never be happy about paying higher taxes. I will never be willing to pay higher taxes to support more spending and borrowing.

Stop spending what we don't have. This should stop borrowing. Once this happens, then talk to me about what I need to pay to make things right for my children.

Be safe.

[lifeon2]

I was actually using that as an example of making small cuts add up to larger cuts. I am sure there are much better examples of flat out waste spending.

[cstone]

I was actually using that as an example of making small cuts add up to larger cuts. I am sure there are much better examples of flat out waste spending.

I believe the point is that we cannot cut discretionary spending enough to fix the problem. The interest on the debt, which most of us look at as a mandatory expense, takes almost a third of our annual revenue. Without looking at operating expenses, which is where everyone agrees there is some waste and redundancy, we must look at the other mandatory expenses. The principal categories are Social Security, Medicare/Medicaid, and pensions for retired federal employees. If we can't agree to cut one of these three "sacred cows" then we will NEVER be able to restore fiscal solvency in this nation.

The fate of Greece will make our future look like a match next to a bonfire.

In the words of the dolphins; "So Long, and Thanks for All the Fish."

[tmleadr03]

I believe the point is that we cannot cut discretionary spending enough to fix the problem. The interest on the debt, which most of us look at as a mandatory expense, takes almost a third of our annual revenue. Without looking at operating expenses, which is where everyone agrees there is some waste and redundancy, we must look at the other mandatory expenses. The principal categories are Social Security, Medicare/Medicaid, and pensions for retired federal employees. If we can't agree to cut one of these three "sacred cows" then we will NEVER be able to restore fiscal solvency in this nation.

The fate of Greece will make our future look like a match next to a bonfire.

In the words of the dolphins; "So Long, and Thanks for All the Fish."

The answer to our problems is 42.

[spqrzilla]

The mantra "cut waste" is all well and good and there is plenty of waste. But the government is currently spending such immense amounts of money in excess of tax revenue that you could zero out the defense budget and still not be in "balance".

Large amounts of social spending will need to be dealt with by controlling its growth or outright cutting of benefits very soon.

The Democrats are hiding this fact from the American public by refusing to even pass a budget (because part of the overall budget process includes 10 year window deficit projections).

[tmleadr03]

The mantra "cut waste" is all well and good and there is plenty of waste. But the government is currently spending such immense amounts of money in excess of tax revenue that you could zero out the defense budget and still not be in "balance".

Large amounts of social spending will need to be dealt with by controlling its growth or outright cutting of benefits very soon.

The Democrats are hiding this fact from the American public by refusing to even pass a budget (because part of the overall budget process includes 10 year window deficit projections).

According to the video the mandatory spending is larger then the entire revenue the federal .gov takes in.

I just went to the historical tables on Whitehouse.gov and it looks like for 2011 we are only overspending by 36%. So if EVERY department took a 30% cut this year and then held to a growth in spending of 3% for the next five years and we saw an increase of revenue by 5% each year in five years we would be over spending about 255 Billion each year and still in debt by over 120 Trillion in unfunded liabilities. Not to mention our regular debt of 16 Trillion would not have gone down either.

We have unfunded liabilities of 120 Trillion. To cover that we would need to see a cut in spending of 50% and a growth of 10% a year for the next 60 years. I am not actually going to work an excell spread sheet for the real numbers to be able to cover all the debt right now. But you get the idea. It isn't happening.

[cstone]

Our government has over promised and over obligated our economic future. We cannot pay everyone we have promised to pay. IMO we have to cut spending on one or more than one of the following:

Social Security
Medicare
Medicaid
Federal Pensions
Interest on our current debt

While we are trying to figure out the cuts we need to make, lets stop borrowing more for current spending. More borrowing only increases the interest on the debt. No more debt ceiling increases!

There are no good choices, only choices which hurt different people differently. The cows are coming home and it doesn't matter whether we want them or not. To do nothing is to admit defeat and invite destruction.