Let's CUT Spending!

Published on November 30, 2007 By COL Gene In Politics

I suggest we CUT the interest in the budget from about $500 Billion per year to back where it was in 1981 which was $50 Billion.

How did our spending on interest jump by 10 times over the past 30 years?

Reagan is responsible for $150 Billion per year

Bush 41 added about $50 Billion

Clinton added about $50 Billion

Bush 43 another $200 Billion.

That is a total of $450 Billion since 1981 of which $400 Billion was added during Republican administrations.

For all those Conservatives clamoring for spending cuts - Pony up and pay down the debt and you can have you wish!

Comments

Gideon MacLeish

on Nov 30, 2007

Good work, Col! It's nice to see you acknowledging the problem goes beyond George W.

terpfan1980

on Nov 30, 2007

Good work, Col! It's nice to see you acknowledging the problem goes beyond George W.

Wait for it.... wait for it.... (you know it's coming....)

What are we waiting for? SHOUTS and DEMANDS that we raise taxes (supposedly on the rich) to fund the paydown of the debt. Never mind that the money that gets raised will never go to that, and instead would just feed the bureaucratic monster with new spending as just about any sane individual knows that sending even $0.01 more to Washington means it'll get spent somewhere.

Like Gideon, I give a little credit to the original article here for pointing out how long this has been a problem, but in the end the answer isn't simply to raise taxes, and simply cutting the spending on paying back the national debt will certainly lead to whining from parties like the original author who constantly complains about the size of the national debt.

COL Gene

on Nov 30, 2007

Reply By: Gideon MacLeishPosted: Friday, November 30, 2007Good work, Col! It's nice to see you acknowledging the problem goes beyond George W.

I have said in the past where the debt came from. The issue is how to come up with the CASH to repay the debt. It will not come from spending cuts given all the other issues we face. For example we will be faced with $700 Billion in added VA Costs and another $200 Billion to replace the equipment destroyed in Iraq. We are faced with the added cost to secure our border - The Fence as well as the added manpower required. We are in the process of increasing the size of our military by 80,000.<

Island Dog

on Nov 30, 2007

It will not come from spending cuts given all the other issues we face.

It certainly can.

danielost

on Nov 30, 2007

we can get rid of the debt in three years.

all we have to do is stop the auto. increases.

cut all unnecassary spending.

the only we should really pay is the military, social, and medicare/caid.

the states can handle education for three years,.

COL Gene

on Nov 30, 2007

Reply By: Island DogPosted: Friday, November 30, 2007

It will not come from spending cuts given all the other issues we face.

It certainly can.

You do not know what you are talking about. There are no combinations of Discretionary spending outside of defense and homeland security, which make up the bulk of discretionary spending, that are large enough to both Balance the Budget and generate a Surplus to pay down the debt! You do not have the option of cutting entitlements, pensions or the interest on the debt. Last year we spent $500 Billion more then we taxed and if you add another $200 Billion to be paid on the debt you need cuts of $700 Billion. That is NOT POSSDIBLE!

You may be able to CUT $100 Billion of things that the majority would agree to eliminate.

Island Dog

on Nov 30, 2007

You may be able to CUT $100 Billion of things that the majority would agree to eliminate.

We have shown you gene many times how you can do this. You keep talking about the "majority". It doesn't work like that.

COL Gene

on Dec 01, 2007

Reply By: Island DogPosted: Friday, November 30, 2007

You may be able to CUT $100 Billion of things that the majority would agree to eliminate.

We have shown you gene many times how you can do this. You keep talking about the "majority". It doesn't work like that.

In a democracy it does work JUST LIKE THAT. The ONLY way to balance the Budget and pay down the debt with spending cuts would be to fail to keep the commitments in some of the entitlements or stop paying the interest on the debt. That will not happen and any elected member of Congress that would try that would find themselves OUT OF POWER!

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