Cut Spending starting in 2012?

It's hard to believe that President Obama would want to cut spending on anything considering all the healthcare talk these past few years not to mention the bailouts.  But with all things to consider could we have afforded to let the banks fell? You think that by now after 70 years we could truly analyze the problems of the great depression and even though the problems today are not like the ones in the past, we should by now have some idea on how to keep the economy from spiraling down.  However Obama is not going to have a choice but to cut spending we have a deficit we cannot maintain.

Its seems like our only hope of stimulating the economy is by looking to the federal reserve who from there look to one man Ben Bernake and like his predecessor Alan G. his only solution is to create more money..  In itself this is a broken system because no one man should have the power to try to solve such an unpredictable problem.

Fortunately the fiscal commission announced today a proposal by Senator Simpson and Senator Bowls to cut the spending deficit by 4 trillion dollars beginning in 2012.  This kind of talk sounds real familiar oh ya Ron Paul has been talking about this for over twenty years.  Well I guess when you run a credit bill like the U.S. government you have to start thinking when do we run out of money?? Unfortunately both senators are being highly criticized but that is to be expected no one wants their funds cut.

Well here is the link to an article explaining the cuts in spending a few important ones are: cut in defense spending, domestic spending and raising the Social Security age... They even propose changing the tax code to lower percentages including corporate taxes and simplifying tax expenditures... but I’ll just have you read the article.

like always post some feedback very interested on your thoughts on the matter.


http://money.cnn.com/2010/11/10/news/economy/fiscal_commission_prelim_report/index.htm?source=yahoo_app




video links


http://money.cnn.com/video/news/2010/11/10/n_fiscal_comm_simpson.cnnmoney/