The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retire Early CampFIRE


Subject:  Re: Income Tax Revenue and Deficits Date:  12/5/2012  8:10 PM
Author:  telegraph Number:  658486 of 794736

It's hopeless.

THe folks in DC are arguing about a few tens of billions a year while they are running a 1.4 TRILLION dollar deficiet.

They won't address the entitlement programs which will go over half of all government spending in 10 years.

They aren't even talking about cutting spending....but they are talkiing about cutting the rate of INCREASE of the part ABOVE the BASELINE increases that will happen no matter what.

In other words, spending is going up 8% a year, and now they are talking about the spending OVER that 8% a year that they will 'cut back' somewhat...say from only 2% over that 8% to 1.7% above the 8% already automatic baseline spending increase.

They have NO intention of cutting anything today.