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Originally Posted by DudeRick
Quote:
[The debt ceiling deal] is akin to a family ?saving? $100,000 in expenses by deciding not to buy a Lamborghini, and instead getting a fully loaded Mercedes, when really their budget dictates that they need to stick with their perfectly serviceable Honda.
- Ron Paul
Sadly, thats about right. Hope they get the Balanced Budget Amendment passed!  |
A) won't happen even so would take YEARS to get passed. Try to understand how Constitutional Amendments become law.
B) Such a thing would be a disaster right now. Just to get to a balanced budget, which doesn't even allow for any money to go towards paying off the $14 trillion we already owe, we would have to cut EVERYTHING( including military, SS medicare etc etc ) by 40% if one insists on not raising taxes. Even if you repealed the Bush tax cuts for everyone not just the rich, we'd still have to cut EVERYTHING by 20%. And as I said that just keeps the debt at $14 trillion is doesn't actually reduce it.