RSS

Well There’s Your Problem!

09 Mar

This doesn’t surprise me at all. The American Media and the Academy have been completely negligent over the years in teaching economics and reporting facts when it comes to what makes up the US budget and what items will cause it to explode beyond all reason now that the Boomers are starting to retire.

Check out this chart at Business Insider to get a good picture of what truly drives deficits in the out years. It’s the non-discretionary entitlement spending and the interest to finance the debt that’s going to kill us and not foreign aid or defense spending.

Please don’t get me wrong, I think we need true cuts (and not just reductions in the rate of growth which Dem’s call cuts) across the board in every line item. No department should be exempt. At the same time, we MUST reform the three big entitlements or they will eat us alive.

They are nibbling on our toes now. It won’t be long before they gnaw off one of our feet.

Advertisements
 
1 Comment

Posted by on March 9, 2011 in Business, Culture, Politics

 

One response to “Well There’s Your Problem!

  1. Steve

    March 10, 2011 at 6:43 am

    THANK YOU for posting this! I’m glad I found your blog!!

    Steve
    Common Cents
    http://www.commoncts.blogspot.com

     

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: