Deficit Limit a Charade
OK, let’s do the math. I mean let’s compare what’s being discussed one year at a time.
A 10 year $1.5 trillion cut in spending is $150 billion A YEAR. Chump change. The interest on the $14.5 trillion debt is more than that!!!!!!!!!!!! You need a $4.5 trillion cut in the spending over 10 years to save about $500 billion for the debt interest we already have.
$150 billion is easily handled with a minimum in disruption in what the Democrats/Obama are already doing. And they want ANOTHER $1.5 trillion deficit budget for 2012.
The interest on the debt will be around $400 billion this year – and Social Security only costs $600 billion a year. So Social Security can be fixed simply – stop spending, lower the debt and thus save the interest on the debt.