How will whom ever is elected our next president deal with the budget deficit?
Currently our deficit is $9.5 trillion more than double what it was when the chimp took office. Does our deficit matter? Currently nearly one fourth of our budget goes to service (pay the interest) on the debt. Only two other items on the budget are larger. 1.) Defense and 2.) Entitlement programs (Medicare and medicaid). The rest is discretionary spending. No one evens mentions repaying Social Security which will have to happen eventually. I think my last statement said by 2042 my benefits’ may be reduced.
McCain says he'll reduce the deficit by keeping the tax cuts in place and by cutting wasteful spending. Is there $482 billion in wasteful spending?
Obama says he'll reduce the deficit and pay for new programs by taxing the top 5% at a higher rate while keeping taxes on 95% of Americans the same or reducing them. Can we really get $482 billion out of the top 5% of tax payers?

Once all the smoke clears and mirrors are gone how can we reduce the deficit or will we continue to spend beyond our means and leave our children and grandchildren our I.O.U.s

Who ever is elected will inherit the largest annual budget deficit ever, $482 billion.


http://www.latimes.com/news/nationworld/nation/la-na-deficit29-2008jul29,0,4458909.story

http://www.msnbc.msn.com/id/23596092/

http://www.cbsnews.com/stories/2008/02/12/national/main3822385.shtml

So what say you. Is the deficit a problem. If not why and explain

No. Neither one will truly tackle our deficit problem.

Just like neither candidate will truly tackle the Social Security or Medicare/Medicaid/Healthcare crisis in the US.

Honestly, I'm not too sure those problems can be tackled, short of them just "going away" after our nation collapses someday.

What I *can* see changing, if Obama is elected, is US getting out of the Iraq war within 4 years, as well as improving global perceptions/relations with the rest of the world.

I also see our economy, housing market, and US Dollar changing for the better, but that will happen regardless of who is elected.

Hmmm, I agree with Parker.

Neither will touch illegal immigration either.
What a joke.

You really believe that socialist programs are going to improve the economy, housing market and the US dollar? Please enlighten me. The housing market fell of it's own weight by idiots believing they could afford more houses than they actually could and liberal assholes forcing the institutions to grant loans so everone could realize the American dream. It's coming back of it's own accord and I'm sure if Obama gets in he will take credit for it.

I'm tired of bailing out losers. I gave 8 years of my life in the military when chicken [censored] draft dodgers did everything they could to avoid the military and gloated over their successes. Hard work and perseverance gave me a retiremnt in the 6 figure range. I don't particularly want to give that to some piece of crap that would rather spend their allotment on fancy wheels for their mud machine and live in a single wide. To date I have "loaned", and will never expect to see it back, several hundred dollars to friends who just can't seem to make it or afford $30 bucks a month to buy State provided medical. "I can go to the E room for free" I have offered their dead beat kid a chance to pay his medical premiums by doing yard work. No thanks!

If Obama Lama Ding Dong gets in and starts taxing to pay for socialist programs, I might as well just cash in and join the crowd. I have always purchased my own medical and prefer to leave it that way. And I prefer to not pay for late term abortions.

All the Social Security system needs is to raise the level of income subject to tax. I know that's a tax increase but it doesn't apply to pensions. But I'm sure another 8 years of Democrat rule will figure out some way to get those pensions taxed. After all Clinton and Gore were the ones who instituted tax on Social Security benefits. See that's how we Dems balance the budget! Tax the rich my ass!

Obama is now taking credit fro the fact that a timeline is being discussed in Iraq, due to the fact the surge worked! The surge that he was against! Biden so eleoquently explained that the other night, how the adminstration is now looking at a timeline and it is because Obama suggested it first. Talk about snake oil sales! What a tool!

In case you haven't noticed the dollar is gaining. Probably in anticipation of the Dems taking office!

The $10trillion debt won't seem so bad once inflation really gets cranked up.

You are right about that. The $4 trillion Regan ran up in the 80's really is only costing us 40 cents on the dollar in todays dollars. Inflation will really help us repay that debt faster when the dollar is worth 1/10 the value of the Euro or Yen. When our money has to have a few more zeros added to each denomination to buy anything our current $9.5 trillion won't seem like so much.

Parker is right in that no candidate will touch any of those things. They are "third rail" issues that you are damned if you do and damned if you don't. They may talk around the subjects but no one will give any specifics. That would be political suicide.

In spite of the hype, the "surge" didn't do fuckall.

The entire point of the escalation was to create breathing room for political changes to happen in Iraq...we sent over a few thousand more troops, cracked down on the fighting, created the space...and nothing happened with it.

The "surge" wasn't the end all, be all...it was a tool to do some actual good, and that actual good didn't materialize at all.

What good is the escalation when the very goal it was supposed to reach didn't even glimmer on the horizon?

We could send 500,000 more troops over there, put a dude with a gun every ten feet on every road, and shoot the hell out of anyone who steps out of line...and unless the political things change over there and they start getting on track to have a country without us running it for them as an occupying force, it won't matter one single little bit. It will just be more American money, and more American lives spent for no reason whatsoever.

When the escalation was being sold to us, it was just like virtually every other product in Iraq they've been trying to sell us...here's what we'll do, and here's what we'll get!...only, just like the others, we did it just fine, and didn't get the happy ending.

Fish on...

Todd

Gee thanks for your usual accurate analysis. I'm sure General Patraeus will note your keen observations. As usual you are right and everyone else is wrong. Talk about a fuckall! Hey how come you can use that word and I can't use chicken $hit? It must mean something good!

'sh!t' is off limits.

It's a shame because it really limits my delivery sometimes.