It is hard to grasp the enormity.... but in this graphic, King Kong looks tiny on the Empire State Building, next to the towering debt.
So much circling around.... they are now spending the morning in the House of Reps pledging to cut spending by 5%.
Question is, will they address the elephant in the room (war spending). ... or go after education, Soc Sec & Medicare, Senior programs etc.
I've read if they don;t raise the debt cap (over $14.3 trillion) we would default & it would be catastrophic. At some point we have to pay the piper & shut down this magic credit card that has no limit to overdrafts.
What a joke. The federal budget is about 3.5 trillion dollars. 5% of that is 175 billion dollars. They originally pledged to cut 100 billion but backed away from that number when pressed as to where those cuts were coming from.
Now they want to cut 175 BILLION?!?
I think all they are going to show is that they are all rhetoric and no action.
i love how rethugs love to disparage low-income people who were bamboozled into getting mortgages they couldn't afford, while they spent money like drunken sailors when chimpy was in office, and they had control of congress and the pursestrings.
For all the talk about free market economics that dominates discussion, Americans are and always have been wildly ignorant of basic economics. We get stupid right after supply and demand.
7 comments:
One trillion dollars is a very hard number to get ones head around. A million is a big number and a trillion is a million million.
It is hard to grasp the enormity.... but in this graphic, King Kong looks tiny on the Empire State Building, next to the towering debt.
So much circling around.... they are now spending the morning in the House of Reps pledging to cut spending by 5%.
Question is, will they address the elephant in the room (war spending). ... or go after education, Soc Sec & Medicare, Senior programs etc.
I've read if they don;t raise the debt cap (over $14.3 trillion) we would default & it would be catastrophic.
At some point we have to pay the piper & shut down this magic credit card that has no limit to overdrafts.
What a joke. The federal budget is about 3.5 trillion dollars. 5% of that is 175 billion dollars. They originally pledged to cut 100 billion but backed away from that number when pressed as to where those cuts were coming from.
Now they want to cut 175 BILLION?!?
I think all they are going to show is that they are all rhetoric and no action.
I'm sure these pledges will come back to haunt them as they splice this pledge footage with the actual spending to come.
I can hear the circus music in the distance.
i love how rethugs love to disparage low-income people who were bamboozled into getting mortgages they couldn't afford, while they spent money like drunken sailors when chimpy was in office, and they had control of congress and the pursestrings.
Republicans are experts at spending money they don't have. Democrats may be "tax and spend", but that is better than "cut and spend".
Nearly inconceivable.
For all the talk about free market economics that dominates discussion, Americans are and always have been wildly ignorant of basic economics. We get stupid right after supply and demand.
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