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View Diary: We have a revenue problem, not a spending problem (67 comments)

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  •  If a business lost revenue at a rate like this (10+ / 0-)

    it would close its doors, and the free-marketeers would say, well, looks like those in charge just didn't know how to run the business.

    But since it's the federal government that's lost revenue at such a rate, the same free-marketeers who presided over the loss in revenue want to stay in control and continue bleeding revenue.

    •  Interesting info... (2+ / 0-)
      Recommended by:
      Pilotshark, JeffW


      Entitlement spending has increased at a greater rate than even the military. Revenues have dipped. I read that the Bush tax cuts on the wealty only would be 70 billion/yr. On everyone it would be 370 billion/yr.

      So in theory if the Bush tax cuts were never implemented,and military had stayed the same,we would be coming up about 560 billion short this year instead of 1.3 trillion. Realistically,defense was going to go up some after 9/11...something that big does not cause a reaction,but if we had stayed out of Iraq,and concentrated on Afghanistan, it could have bee a lot lower cost than it is right now.

      We do need to the economy to grow,somehow,to get close to a reasonable annual budget deficit. If it was 600 billion in a recession it is probably somewhat acceptable but 300-400 billion is where it needs to settle in average years.

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