There were some recent stories about how the U.S. , particularly it's economy, was not functioning well.
Thus: Some great experts have opined that the U.S. couldn't come out of deficit until 2012, but only if the Bush tax cuts were dropped etc. etc.
But no one knows.
On a roughly $14 trillion economy a $1-200 billion deficit is --- chump change.
Thus: Some great experts have opined that the U.S. couldn't come out of deficit until 2012, but only if the Bush tax cuts were dropped etc. etc.
But no one knows.
On a roughly $14 trillion economy a $1-200 billion deficit is --- chump change.
posted by Ben Wattenberg at 7:42 AM
2 Comments:
$100 to $200 billion is not chump change, Ben. It's a sign of a poorly managed federal budget and it's a cruel tax on future taxpayers. It invites tax increases from future Congresses and future Presidents. It's nothing to be sniffed at.
Surely you can't be serious Ben. 2006's federal budget deficit was actually more than $400 BILLION, with a B, dollars. That brought our total national debt to $8.6 TRILLION, with a T. The interest payments on that amount are $406 BILLION dollars for fiscal year 2006.
We don't need to be adding any more debt to this $8.6 trillion total, Ben. That's the bottom line.
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