[quote=briansd1]Back on topic, the debt growing is not what we need to worry about, at this time.
We need to get the economy back to sustained and consistent growth. Governement policies should be targeted to that goal.
Tax cuts for the richest Americans will not put more money into the economy.
There is right now $2 trillion in the banks ($20 trillion in potential loans) and $1.8 in corporate treasuries. Getting that money invested into the economy requires a rebound of consumer confidence and spending. And since consumers are tapped out, the best way to get them spending again in to put money in their pockets.
The structural deficit in a different thing. Putting aside the stimulus spending necessary to get the country out of the financial collapse, longer term, spending needs to match revenue through a combination of tax increases and spending cuts.
What I’m saying is that we need to look at two issues independently:
1) What do we need to do now to get the country out of economic malaise and recover from the financial collapse?
2) What needs to be done, longer term, to get rid of the structural deficit. Permanently extending the tax cuts is not the way to do it.[/quote]
While I agree with you 100% on these tax cuts not doing anything beneficial at all, we disagree about the deficit.
We certainly need to raise taxes and cut spending, and it needs to be done now. IMHO, there are areas that can be cut rather significantly AND (most importantly), things can be made much more efficient and less corrupt, which would save money without harming the economy. There is a LOT of corruption and back-room dealing which sucks up more money than most people would expect, IMHO. We need to hold our representatives accountable for where our money is going.
As everyone knows, I don’t have a problem with “entitlement” spending for the poor. I have a problem with “entitlement” spending for the rich — which doesn’t benefit our economy or our social structure in any way.
