Digging Even Deeper
Riddle me this....If a someone is $1.2 TRILLION in debt and you add another $1.3 Trillion in spending (TARP and Stimulus) what do you suppose you would get?
Now add another $4 TRILLION to the mix. Now can anyone tell me how we are going to CUT the budget deficit by half with all of this additional spending?
Chart courtesy of The Constant Broker
Now add another $4 TRILLION to the mix. Now can anyone tell me how we are going to CUT the budget deficit by half with all of this additional spending?
Chart courtesy of The Constant Broker
Labels: Deficit Spending
posted by The Lady Logician at
10:21 PM
7 Comments:
that's assuming that all the spending is continued and no other spending is cut.
almost like saying i bought a car this week, so now i've got to factor in $20,000 in expenses in my weekly bugdet from now on.
By
craig41, at 12:29 PM
Ahem... cough cough AHEM.
By
Jason The, at 1:33 PM
Actually Craig, if you finance you do have to figure at least $30,000 into your long term budget. However, in this case it is an ANNUAL budget and the total budget DOES take spending cuts into account. The budget includes cuts in military spending in Iraq. It DOES include spending cuts in a multitude of areas, but the spending INCREASES wipe all of those cuts out!
LL
By
The Lady Logician, at 1:51 PM
Jason,
Great graph, but Bush is no longer President and his spending is one of the MAJOR problems that fiscal conservatives (like myself) had with him. Therefore I have to ask....what's your point?
LL
By
The Lady Logician, at 2:24 PM
ok, but the 1 trillion (interest added number, from what i've heard, i haven't really looked) for the stimulus is still a one time expense to be paid for over the years. this can be offset by a combination of tax increases and/or spending decreases (most likely both).
you're treating this as though these will be in each years budget, i for one hope that we don't need anymore TARP/Stimulus like programs, realistically we might, but i certainly hope we don't need one per year over the next four years (if we do, the deficit will really be the least of our worries).
if they aren't needed, then cutting the deficity to 500-600 million, or half of it's 1.2-1.3 trillion level is entirely possible. my point was that your little graph here treats these one time payments as ongoing payments (thus the car example), but that's not the case, even before any cutting/taxing takes place obama is closer to his goal than you'll give him credit for. just pointing that out because it might not be what you want, you're actually lowering expectations, and if he pulls it off, making it a bigger accomplishment than it actually is.
By
craig41, at 4:48 PM
Wow. Makes the spending take practical shape. Thanks for the info, we can't get complacent when RINOs and radicals are squandering our future on temporary jobs and pork to establish power for themselves.
By
tsh, at 1:44 PM
We need to find ways to stimulate small and medium business in this country for the job crisis to be solved and to generate spending. Obama and the government needs to stop spreading doom and gloom about our economy and focus on individual Americans as the solution. Will this happen under a liberal socialist, though? I think not.
By
tsh, at 1:50 PM
Post a Comment
<< Home