American Elephants

Today is Deficit Day. The U.S. Is Out of Cash. by The Elephant's Child
September 24, 2013, 7:23 pm
Filed under: Capitalism, Democrat Corruption, Economy, Freedom, Health Care, Politics, The United States

The Treasury Department collects 2.7 trillion every year in the form of income, payroll, corporate, estate and excise taxes plus fees, tariffs and fines and whatever else, and they have run through all of it. Every dollar it spends from now to December 31 will be borrowed. Heck of a way to run a country.

They spend at the rate of over $10 billion a day. Imagine.  And they have no intent to stop or lower their rate of spending, and no interest in doing so. You  may sit at the kitchen table, pencil and scratch paper in hand trying to figure out how to cut your family’s budget back to meet the straightened circumstances the government has created for us.

Can you imagine borrowing $1,000 from your IRA and treating it as “income?” That’s what the government does. It borrows $33 billion from Social Security this year and treats it the same way it treats tax revenue, instead of the debt it actually is.

That’s the mindset.”There are no more cuts to make, the Cupboard is bare.” Well, that’s Nancy Pelosi, she tells herself nice stories so she can think well of herself.

The Congressional Budget Office (CBO) released their annual Long-Term Budget Outlook. It is a pointed reminder that government spending is still out of control. Budget chairman Paul Ryan responded:

“Are we going to get control of the debt before it reaches a breaking point? The President and Congressional Democrats want to wish the problem away. But that’s simply irresponsible.

The report reiterates the obvious Government spending, especially on health care, is driving our debt. And ObamaCare will not solve the problem. The law was a costly mistake. So we should replace it with real, bipartisan reforms.

Key points from the Long-Term Budget Outlook:

  • A Large Debt Hurts Jobs — Debt held by the public is projected to grow rapidly as a share of the economy in the years ahead from 73 percent today to 100 percent in 2038. CBO warns that “the high and rising amount of [projected] debt . . . would have significant negative consequences for both the economy and the federal budget.”
  • Spending Drives the Debt — CBO projects that government spending will increase as a share of the economy from 20.8 percent today to 26.2 percent by 2038—a nearly 26 percent increase. The aging of the baby-boom generation, rising health-care costs, and Obamacare are “expected to steadily boost the government’s spending.”
  • Obamacare Won’t Help — The report warns that the President’s health-care law won’t stop the explosion in health-care costs. Mandatory spending on health care will increase by 74 percent from 4.6 percent of GDP today to 8.0 percent of GDP over the next 25 years. Over the next decade, Obamacare expansions will account for over half the growth in government
  • Higher Taxes Will Cost Jobs — CBO warns that if we raise taxes, as the President and his party’s leaders insist, our economy will hit the brakes. The report says higher tax rates “would discourage people from working and saving, further reducing output and income.”
  • Entitlement Reform Still Necessary — Entitlement programs—namely Social Security, Medicare, and Medicaid—and interest payments are driving our debt. CBO projects that government spending in these areas will consume 100 percent of total revenues by 2043.

This is the liberal mindset. God is to be redefined as human freedom achieved through the right political organization. The State is the divine idea as it exists on earth. The Founders never intended for Americans to empower the government to control their health decisions, and what care they may or may not have. This is making the purpose of the state the perfection of humanity, What ever happened to liberty? Damn control freaks. They just can’t stop themselves.

1 Comment so far
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We had better get this country returning to the language and intent of our constitution and stop spending mostly on foreign projects, UN, and payoffs and spending on those who never contributed or who do not contribute toward their own support and that of the nation and soon or we will kiss country good by. Today, Russia is on the right track for success than we are as we are sliding down that slippery slope, thanks to our uniqueness.


Comment by fireboatman

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