"Reducing spending while still investing in the future is just common sense," "That's what families do in tough times. They sacrifice where they can, even if it's hard, to afford what's really important."
The last-minute agreement reached Friday to keep the government funded for the next six months would cut approximately $38.5 billion from the 2010 budget baseline, officials said, and $78.5 billion from Obama's 2011 budget proposal. - ABC News
HAASE - In just the month of March, the US government spent $1.1 TRILLION dollars.
And these are considered "cuts" after doubling trillion dollar spending in a few short years?
ARE THESE PEOPLE AWARE THE "INTEREST ON PUBLIC DEBT" WAS OVER $104 BILLION FOR JUST DECEMBER?For those of the public who are completely oblivious of a problem...
Federal debt service may do a disservice
» Interest paid on federal debt in 2009: $202 billion
» Projected interest in 2019: More than $700 billion
» Current federal spending
» Military: $664 billion
» Social Security: $644 billion
» Medicare and Medicaid: $632 billion
The National Debt is $14.2 Trillion and we can not even pay back the "interest alone" the reason is simplicity itself: if you borrow $1 and promise to pay back $1.05, it is one thing, but if everyone borrows $1 and promises to pay back $1.05, then it is quite another!
Obviously, a lot of people are going to have to borrow $1.10 to pay back the $1.05, and then they have to borrow $1.16, then $1.22, then $1.28, all the time getting worse and worse and worse.
And now that government (local, state and federal) spending comprises HALF of all spending in the USA, the system has hideously mutated into a giant corrupt cesspool that is totally dependent on borrowing to support government spending.
U. S. Treasury Department report to Congress: U.S debt to rise to $19.6 trillion by 2015.
The Obama administration has been sounding hazard warnings all year on the need to raise the U.S. debt limit, but it has yet to deliver the worst news: Congress may have to raise it by more than $2 trillion
Neither the administration nor lawmakers in Congress want to talk about it, but an increase of at least $1 trillion is needed to keep the government running through the end of the fiscal year on Sept. 30, an analysis of deficit forecasts and U.S. Treasury borrowing needs shows.
To last until the November 2012 presidential election, the increase would need to be well over $2 trillion. - CNBC
GM "When the U. S. Government loses $84 billion, it's a big success."- Office of Management and Budget miscalculate budget for 2012. Budget proposal off by $2 Trillion!
- The U. S. Debt jumped $72 Billion on 15 March 2011. That same day, Congress voted to cut the spending by $6 Billion. How does that help?
- Evaluating the proposed spending cuts: $61 Billion. What will be the impact?
- China is the largest holder of our National Debt, and more than previously reported.
- Do you question or debate Flat Tax versus Fair Tax? They are totally different. Check this.
- President Obama submitted his budget proposal for FY2012, $3.7 Trillion, says it has over $1 Trillion in cuts, where are they?
- Announced late last year, but now updated: Social Security goes bankrupt.
- Where did the stimulus money go? What did it get us? Your kids will pay for it anyway.
