Hope it's not all bluster. >>Sen. Rand Paul (R-KY) will soon introduce legislation that puts just about all other spending cut plans proposed by Republicans this Congress to shame. The bill, passed my way by a source, calls for $500 billion in specific spending cuts during Fiscal Year 2011 -- which comes to a close at the end of September, just eight months from now.<< http://tpmdc.talkingpointsmemo.com/...slash-spending-by-500-billion-immediately.php http://www.talkingpointsmemo.com/do...-slash-half-a-trillion-in-spending.php?page=1
The Dems had control of The Oval Office, Senate, and House for two years. They proposed no meaningful budget cuts. Now, they will have to accept a lot of Republican budget cuts they dont like.
These cuts appear to be significant but it's only a third of what is needed to balance the budget this year. I don't think people understand just how out of control our government is relative to spending and how screwed we are.
What.... no one thought the spending freeze over 5-10 years that would save $400 Billion would be enough... hahaha.... $400 billion.... Trillions being spent and they are talking about billions...This has got to be a joke!
Foreign Aid, military and non-military has also got to go. No mention of it on this bill. Even if it benefits americans, it's hugely debatable, so there's no strong case to not let it go.
Correctamundo! Rand Paul proposes $500B in cuts, but the OMB says "Fiscal 2011 = $1.5T deficit"... If I could get a bet down on this, I'd go for the "under".. that they don't get $500B in cuts. The House needs to GROW A PAIR.. and reject Odumbo's budget-busting spending plans.
The bill does propose cutting military spending by $47 billion. The very fact that Rand Paul's proposal seems extreme, yet still leaves us with a $1 trillion per year deficit, shows how utterly hopeless the fiscal situation really is. Anyhow give Rand credit for being willing to slay some sacred cows. Take the Department of Education (please!). It didn't exist when I went to high school (yes, I'm an old fart who attended high school in the early 70s). Public schools have become a lot more expensive since then (in inflation adjusted terms) but haven't got any better. So I am convinced that nothing too terrible would happen if the Department of Education were to cease existence, and education was left to states, local communities, and families, as intended by the Constitution. But watch the liberals howl about how Rand is "anti-education".
It's going to take two more elections, 2012 and 2014 midterms to get enough people in congress with the guts to fix this. Constitutional Convention is probably the best way to fix the mess since our system is out of control and needs to be re calibrated.
The Fed is buying $600B of the deficit for this fiscal year . The main question I have is who is buying the other $900B? I thought China was slowing down their purchases of US debt.
Whoever told you China was slowing down anything? It's just journalists getting it wrong, as usual...