Quote:
Originally Posted by slapass
Would you buy a bigger pipe? Do a little research. US budget roughly is -
1 - 25% debt interest
2 - 25% military
3 - 25% Social Security and Medicare
4 - 25% The rest
So figure out how to cut 10% if you can't cut the first three like the Republicans want? The Democrats won't cut 1 and 3 and are big fans of 4. Bernake already cut number 1. It is lower then it was in 2000 as a % of GDP. So number 2 needs to be on the table and deadly third rail needs to be finally dealt with.
OR the USA can go broke. The whole budget thing is a fight over the fact no one wants to touch number 3 one which is growing the fastest. Everyone knows it, and no one would reelect them if they cut it so we pretend to fight over number 4.
So yes, you raise the roof and hope you are out of office before the place fills up totally.
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Japan's debt over 200% of gdp and they survived. First world countries dont fail,people forget that.