Posted by
Tim Blessing on Saturday, February 16, 2008 7:04:24 PM
Deficit Spending is an ongoing curse of the Federal Governemt.
Prior to Roosevelt II, it was used mainly to finance wars.
Roosevelt II to Reagan, it was used to get the economy out of recessions.
Clinton nearly eliminated the national debt.
Bush II has set us back to pre-Clinton National Debt Levels.
Right now, the national debt stand's at $9.5 Trillion roughly.
People are basing their economic decisions on their credit cards.
The Federal Budget stands at $ 3 Trillion.
Then there is inflation, which all levels of government use to justify spending increases.
Can you slow the rate of government without harming anyone politically?
It depend's on what level of crisis we are at financially.
First, Bush is absolutely useless when it come's to spending. If we stopped our participation in the Iraq War it would save us a lot of money.
Second, each Senator and Congressman has their own pet projects
Third, every special interest group has their pet projects.
Fourth, the American Public is not interested in solving the budget problem because it doesn't fit simply into Television.
I wonder if Congress could freeze spending at current levels for one year to see if the deficit come's down.
Fifth, business has got to get out from under all these complex regulations placed on them by the government agencies. That would allow companies to generate more profits, which could generate more revenue for the Federal Government.
Sixth, I know the Social Security, Medicare, and Medicaid funding problem has been solved through the gas tax.
Bush I called for a Flexible Freeze in terms of the Federal Budget.
What I suggest? Is a one year freeze based on last year's budget or spending levels.
The national GNP stand's at $13.5 Trillion. What's needed is to reduce the national debt back to a tolerable level. Right now, it stand's at 60% of GNP. A more tolerable level would probably be at 30%.