Monday, January 9, 2012

The deficit again rears its ugly head

The bulging deficit is raising it's ugly head again. There is another push to increase our deficit to over $16 Trillion. Wasn't it just a few months ago we were debating increasing the deficit to $15 Trillion. When will this madness end? This administration and Congress, regardless of political affiliation, are more interested in getting re-elected and keeping their party in power. So we continue to spend money we do not have to buy votes by using taxpayer dollars. The legislative and executive branches of government for years have never seen a dollar they could not spend.
We cut payroll taxes under the illusion this will put more money into the consumers pocket to spend. But where are all the seniors that have been crying "don't touch my Social Security", when the payroll tax cut actually decreases the amount of money being deposited into the Social Security fund, depleting the available funds faster. But we should not worry, since the Fed will print more money. If we continue down this road of deficit spending and printing money, we will need a wheelbarrow of money just to buy a loaf of bread. Remember what happen in the Weimar Republic in the 20's. We have a spending problem and our elected officials lack the courage to actually address our spending to decrease our deficit. Better to just increase the deficit and remain in office. God forbid we actually make spending cuts that would be effective immediately rather than 10 years down the road.

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