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<blockquote data-quote="klein" data-source="post: 851593" data-attributes="member: 23950">Re: ObamanomicsOkay, lets go to the revenue problem:Since Clinton, no budget surplus, only debt accumulation since !Bush gave tax cuts and medicare part B without any sort of funding (= more debt ).Now , just like a credit card, more on interest needs to be paid for the major debt (where is that suppose to come from) ? (= more debt).With over 9% unemployment that equals to less taxable income = less government revenue (= more debt)You have a huge shortfall of revenue now, and if spending is the problem - then you&#039;ll need a huge cut in spending (2 Trillion per year, about the entire cost of medicare and SS combined) to balance the budget.Just remember the $548.000 every American household owns in National debt and liabilities, and figure out the interest payments on that alone.If you owned that personally, you would probably need to get a second job to increase your own revenue.Eating beans and wieners and KD dinner daily won&#039;t even help you out of that mess, because the interest on your debt alone will exceed your income needs.</blockquote>

[QUOTE="klein, post: 851593, member: 23950"] [b]Re: Obamanomics[/b] Okay, lets go to the revenue problem: Since Clinton, no budget surplus, only debt accumulation since ! Bush gave tax cuts and medicare part B without any sort of funding (= more debt ). Now , just like a credit card, more on interest needs to be paid for the major debt (where is that suppose to come from) ? (= more debt). With over 9% unemployment that equals to less taxable income = less government revenue (= more debt) You have a huge shortfall of revenue now, and if spending is the problem - then you'll need a huge cut in spending (2 Trillion per year, about the entire cost of medicare and SS combined) to balance the budget. Just remember the $548.000 every American household owns in National debt and liabilities, and figure out the interest payments on that alone. If you owned that personally, you would probably need to get a second job to increase your own revenue. Eating beans and wieners and KD dinner daily won't even help you out of that mess, because the interest on your debt alone will exceed your income needs. [/QUOTE]

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