I think the populace realizes that the good ole U.S.A has a giant deficit problem. Our government is addicted to spending. So far, the only budget cuts that have been offered are to decrease the escalation of future spending. Really? That’s the best congress and the president can do! They’ve decided to not increase spending as quickly as originally planned. Isn’t that special! Here’s an interesting perspective, from the Daily Paul, that presents our budget and deficit problem in simple, terms.
Why the US was downgraded…
U.S. Tax revenue: $2,170,000,000,000
Fed budget: $3,820,000,000,000
New debt: $ 1,650,000,000,000
National debt: $14,271,000,000,000
Recent budget cut: $ 38,500,000,000
Let’s remove 8 zeros and pretend it’s a household budget:
Annual family income: $21,700.
Money the family spent: $38,200.
New debt on the credit card: $16,500.
Outstanding balance on the credit card: $142,710
Total budget cuts: $385.
Thankfully, there is a man running for the Republican nomination for President that has presented a plan to cut 1 TRILLION dollars from the budget during his first year in office. Dr. Ron Paul’s “Plan to Restore America” is truly revolutionary. I encourage everyone to go to the congressman’s website and read his entire plan. Ron Paul presents the following overview of his proposed spending cuts:
Cuts $1 trillion in spending during the first year of Ron Paul’s presidency, eliminating five cabinet departments (Energy, HUD, Commerce, Interior, and Education), abolishing the Transportation Security Administration and returning responsibility for security to private property owners, abolishing corporate subsidies, stopping foreign aid, ending foreign wars, and returning most other spending to 2006 levels.
Wow! Now we’re talking. A common sense approach to reducing federal spending from the champion of Liberty! Take a look a Ron defending his plan.