Monday, November 15, 2010

The Conservative Dilemma

According to the Office of Management & Budget, the deficit is trending to $1 trillion, 171 billion.  While the accumulated debt is $13 trillion 727 billion.  That's $13,727,000,000,000.  So, while the new House Republicans are talking about $100 billion plus of cuts, they really should be talking about $500 billion to matter.  The with a lot of breaks, perhaps tax revenue will grow to get to a break even.  However, to pay off the debt requires a surplus in the range of $250 billion for 55 consecutive years.

I don't see how that happens without a lot more tax.  Otherwise, us Baby Boomers are taking it in, and our grandchildren get the bill - it is way to big for just our children...

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