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Originally Posted by Hasbinbad
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That was a somewhat enlightening and very informative post Kraft. Thank you.
I propose we cut spending to the military budget and raise taxes on the highest brackets. That way we can stop owing our souls to China etc., and afford to buy some more asphalt.
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I concur in that we need to cut spending. Military spending in 2011 is ~$700B. But you know what else we need to cut, permanently? Obamacare. Medicare/Medicaid is already ~$800B this year (Social security is a nice #2 at $730B) and the insanity that is healthcare for everyone will cost us an arm and a leg. Military cuts and a stop to socialist policies will help reduce our spending and maybe, MAYBE, get us back to a surplus, or at least less of a deficit annually. But you know my opinions on government policies - cut, cut, then cut some more.
I'm glad I could help you visualize the importance of Debt/GDP though, knowledge is power.