The Treasury Department announced that the Obama Administration has added $3 trillion to the national debt so far, with no end in sight. That’s after 22 months in office, compared with Bush’s addition of $5 trillion over eight years. As of October 15th, the total stands at $13.666 trillion. Obama is spending at a much faster rate than Bush did.
How long will this madness continue? This is totally unsustainable.
If the budget is $1.7 trillion out of whack, then they need to make a minimum of $1.7 trillion in government spending cuts. Discretionary spending needs to be cut, and they need to stop this talk of printing up more money to artificially prop up the economy.
If they want more Americans back to work, then they need to renew the Bush tax cuts for businesses. Small business owners aren’t hiring because they don’t know what the Obama tax rates will be.
If the Republicans win big in a couple of weeks, and they DON’T take IMMEDIATE steps to stop the out of control spending, then they’ll be voted out AGAIN!
And their tax cuts had better not include borrowing money from the Chinese to pay for the cuts. If they want to cut taxes by $700 billion, that needs to be cut from the government budget…no more of this “cut taxes but don’t cut expenses” business that both the Democrats and Republicans have engaged in while they were in the majority.
And the Obama Administration needs to cancel/stop whatever they’re planning on with 401K Plans. Those should stay in the private sector. Federal, state and local governments have made a mess out of their own retirement plans, so they should stay out of the 401Ks.
Start cutting!
No comments:
Post a Comment