FedGov receives about 2 Trillion in tax revenue.
They spend 3.5 Trillion, which means the difference is borrowed or printed.
Look at the cumulative of Entitlements, Interest on the Debt, and "Other Mandatory" spending: It totals more than 2 Trillion.
If we immediately cut Entitlement programs, the deficit would go away tomorrow.
Yes, there would be pain. Yes, we would have to find a way to make sure our oldest and most vulnerable do not go hungry as they have come to rely on their FedGov handouts.
But the pain today will be far less than the pain of doing nothing until the entire system collapses under its own weight.
Then, everyone will taste of Death.
Now consider if FedGov only spent what was Constitutionally enumerated...
Kerodin
III
If Medicare Medicaid, Social Security, and Discretionary Spending were cut 1/2 that would be a saving of 1,077 BILLION. Now if these cuts were only 1/4 we would save 538.5 BILLION and if we were to cut Defence by that same 1/4 172.25 BILLION it would be a total savings of
ReplyDelete710.75 BILLION. And people are crying or celebrating 100 BILLION in cuts that will not in reality appear.
Dennis
III
Texas