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Reply #1: Once recession is over we need to get back to managable spending levels. [View All]

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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-31-10 09:17 PM
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1. Once recession is over we need to get back to managable spending levels.
I never considered the $1.8T budget by clinton "too small".

Adjusted for inflation today that would be $2.24T.
http://www.usinflationcalculator.com /

US Federal outlays (expenses) has grown at a rate 50% higher than inflation in last decade.

That isn't sustainable. Even worse receipts (taxes) hasn't kept up with this staggering growth.

Cutting budget & raises taxes in recession is a bad idea but eventually 2012-2013 IMHO I think we seriously need to consider something that will be universally unpopular:
a) cut the budget, put caps on expenditure growth, and institute paygo
AND
b) raise taxes

You can not keep spending money you don't have. If we do someday when the system breaks down and US defaults or it buried by rising interest rates on federal debt people will look back and wonder how stupid we were to think we could keep spending money that isn't ours forever and without consequences.
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