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April 29, 2005

MORE Debt

-- by Dave Johnson

Congress Passes Budget With Cuts in Medicaid and in Taxes.

$106 billion MORE tax cuts for the rich. Massive borrowing. Massive debt. Massive interest payments that you and I and our children and their children will have to pay -- one way or another.

Posted by Dave Johnson at April 29, 2005 9:44 AM

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Comments

State and local governments have to either immediately make up for those medicare cuts or let people die. So our local taxes have to go up.

Posted by: MJ at April 29, 2005 10:51 AM

I've got an idea. Let's simply not raise the budget again for the next 10 years. Let's spend NO MORE money. If we do that, what kind of CUTS will you call that?

Refusing to increase spending is not cutting anything. Only liberals would take a huge percentage increase target, miss the target, but still spend more money and call it a cut!

My greatest concern is not that liberals are complaining about cuts, but that Republicans have become so fat and happy that they won't recommend a true 25% reduction in spending. That would take it from 2 trillion to 1.5 trillion. If liberals are going to complain about cuts, then congress and the president should give them something real to complain about.

Posted by: Alan at April 29, 2005 11:03 AM

Alan! I'm with you! Let's cut the bloated defense budget by about two-thirds, end all subsidies and give-aways to corporations, stop giving tax money to religious organizations to the votes of the piously insane and we'll be right about where you want us. Let's DO IT! Alan, you're a genius!

Posted by: richard at April 29, 2005 3:58 PM

If the Federal Government is running a deficit, 'tax cuts' are NOT tax cuts - they are reductions in the payments we make on our credit card.

Somebody will still have to pay back every red cent, with interest (Hint: it won't be the people whose tax bill goes down).

Why isn't this obvious?

On the other hand, you have payroll taxes, which working stiffs have paid in EXCESS every day for the last 20 years (to the tune of a trillion and a half bucks, and running).

THAT money doesn't count, because 'it's already been spent'.

Oh, wait. It's just dawned on me. We can spend as much as we want, and if we collect no taxes, we won't have to pay it back!

No wonder those Republicans call themselves 'conservative'. By this logic, they could be abolishing ALL taxes.

Posted by: s_bethy at April 29, 2005 5:40 PM

Alan, the charge of innumeracy isn't so black-and-white as you claim. Even if the total amount in the pot goes up, if the population to be served increases faster, then the amount available per person goes down, sometimes dramatically and often with drastic consequences.

In any event, the deficits we're running now are so large that they cannot be eliminated purely by spending cuts because Americans, for better or worse, have decided that they're pretty comfortable with spending what we're spending on discretionary items like national parks. So even if we were to find, say, $100B in pork in the current year's budget and eliminate another $100B in unwarranted tax breaks for corporations (a measure Republicans might well oppose), we'd still be left with huge cuts to defense, entitlements and/or interest on the national debt. And the biggest entitlement, Soc Sec, is self-funding.

So ... what're you going to cut?

Posted by: Lex at May 5, 2005 6:14 AM

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