[quote=no_such_reality][quote=CA renter][quote=no_such_reality]BS. Show is how the debt spending is actually increasing employment, it’s not. A balanced budget would do more to instill confidence and stimulate hiring than an faux job from debt spending.
As for Greece, well burning and destroying seems to be the response to not enough government spending. Truely pathetic.[/quote]
It’s the response to broken promises and the feeling that citizens are being shafted in order to benefit the financiers.[/quote]
It’s shame they’re too stupid to realize they aren’t going to have their cake and eat it too.
But, we’re doing the exact same thing in the US.
Since 2001
Annual US population growth 0.8%
Annual US Inflation 2.0%
Annual US GDP growth 3.1%
Annual US Federal Tax Revenue growth 3.6%
Annual US Federal Spending Growth 5.95%[/quote]
Here’s where most of that money goes. Where would you make the cuts, and how would you implement those cuts?
………..
“As shown in the graph below, three major areas of spending each make up about one-fifth of the budget:
Defense and security: In 2010, some 20 percent of the budget, or $705 billion, paid for defense and security-related international activities. The bulk of the spending in this category reflects the underlying costs of the Department of Defense and other security-related activities. The total also includes the cost of supporting operations in Iraq and Afghanistan, which totaled $170 billion in 2010.
Social Security: Another 20 percent of the budget, or $707 billion, paid for Social Security, which provided retirement benefits averaging $1,175 per month to 34.6 million retired workers in December 2010. Social Security also provided benefits to 2.9 million spouses and children of retired workers, 6.4 million surviving children and spouses of deceased workers, and 10.2 million disabled workers and their eligible dependents in December 2010.
Medicare, Medicaid, and CHIP: Three health insurance programs — Medicare, Medicaid, and the Children’s Health Insurance Program (CHIP) — together accounted for 21 percent of the budget in 2010, or $732 billion. Nearly two-thirds of this amount, or $452 billion, went to Medicare, which provides health coverage to around 47 million people who are over the age of 65 or have disabilities. The remainder of this category funds Medicaid and CHIP, which in a typical month in 2010 will provide health care or long-term care to about 60 million low-income children, parents, elderly people, and people with disabilities. Both Medicaid and CHIP require matching payments from the states.”
