Americas view on how the country should be run seems a bit out of reach, some would even say impossible. But we could come close, by limiting government spending, mostly cutting social programs, and by lowering taxes. This would be a survival of the fittest attitude but without anyone getting eaten by anyone else.
Wholl Pay the Piper?
Big governments big shortfall
By: Robert J. Samuelson
In Robert J. Samuelsons Wholl Pay the Piper he discusses Americas deficit and how we are just adding to it with the expected government spending of $45.8 trillion from 2011-2020. Samuelson starts off by saying there are crucial questions that hardly anyone proposed; what should the federal government do and why, and who should pay? He goes on discussing that there are three major figures [that] capture the essence of our predicament of debt.
First, in the next nine years the government will only receive $37.3 trillion in taxes and receipts but will spend $45.8 trillion. That is an $8.5 trillion difference, and that is A LOT of money. Its confusing how government will plan to spend so much even if they plan on not making that much, only putting us farther in debt. To me it seems really ignorant, its like buying things on credit and not having the money to pay it back, your interest goes up, your debt grows, and soon enough the bank starts taking things. Sadly in our case it wont be the banks, itll be all the countries we owe money to. Yet no one in the American government is thinking about that.
Second, $20 trillion of the projected $45.8 trillion will go to social programs, Social Security, Medicare, and Medicaid. This is the point that you see Samuelson is a republican by the way he talks about social programs. Samuelson gives a good point that the budget is mainly a vehicle for transferring income to retirees from workers, who pay most of the taxes. The bad thing is the ge View More »