Time for a New, New Deal?

[abelenkpe]

Time for a New, New Deal?
http://philsbackupsite.wordpress.com/2010/08/15/time-for-a-new-new-deal/#comment-5024

What are people thinking?

It is interesting to see so many of the same people calling for a “double dip” recession while at the same time railing against government spending. The US Government is spending $3.5Tn this year. Admittedly that’s $1.5Tn more than they have, but it’s quite a lot of money no matter how you look at it. Conservative, born-again deficit hawks (they were born-again the day Obama was elected) will tell you the solution is to cut taxes and let corporations trickle their wealth down on the bottom 99%, well over 20% of whom are unemployed or under-employed.

The Big Lie being told by the right is that we can solve our problems by cutting spending and (ROFL) lowering taxes. Let’s put lowering taxes over to the side and look at cutting spending. By far, our single biggest discretionary line item is Defense, at $782Bn a year. The sum total of all other discretionary spending is only $437Bn so cutting 100% of non-defense discretionary government spending would knock not even 1/3 off our $1.5Tn debt.

What exactly would be included if we make all or part of those $437Bn in cutbacks? Here’s a great chart from Wallstats on Death and Taxes, which I think every deficit hawk should buy the poster of (6 square feet) and put in their office with red lines through all the programs they can do without. Try it, it’s fun – see how much money you can save!

(more at link)

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Sweet article! Check it out if you can. Enjoy! :)

[Steely_Dan]

1. Nice Find

Thanks

[Edweird]

2. Long past time, but don't hold your breath.