Britain gets serious with their budget. - DFWstangs Forums
 
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post #1 of 11 (permalink) Old 10-20-2010, 06:44 AM Thread Starter
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Britain gets serious with their budget.

How long before our government finally follows? If we are going to be serious about getting our budget under control, then there will have to be HUGE defense cuts.

Britain Cuts Defense Spending (by a lot)

More on Defense cuts.


Britain cutting half a million government jobs


I am curious on how long it will be before Argentina tries to go after the Falkland Islands again.

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post #2 of 11 (permalink) Old 10-20-2010, 06:50 AM
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To do that we have to oust career politicians and get people who actually care about the good of this country in control. People who are willing to do what this country needs and are not looking to line their own pockets.

(In case Bullet comes by I am talking about any person from any party)

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post #3 of 11 (permalink) Old 10-20-2010, 07:05 AM
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We spend nearly as much paying the interest on our debt as we do on defense. Now that the deficit under Obama is 1 Trillion + per year the interest payments on the debt is going to eclipse what we spend on defense. Entitlement programs like Medicare & Medicaid, and Social Security are where the bulk of our money is spent. It is going to be even worse once the full health care bill kicks in.

I'd also like to point out that nearly half of what is considered defense spending is not spent on defense. It is spent on the health care and pensions for veterans and not on rockets, bullets,guns, and bombs.

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post #4 of 11 (permalink) Old 10-20-2010, 07:22 AM
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they need to find a way to cut a trillion dollars in overall spending over the next 10 years, and they must do this BEFORE implementing tax cuts.

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post #5 of 11 (permalink) Old 10-20-2010, 07:25 AM
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they need to find a way to cut a trillion dollars in overall spending over the next 10 years, and they must do this BEFORE implementing tax cuts.
Wrong.

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post #6 of 11 (permalink) Old 10-20-2010, 07:40 AM Thread Starter
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they need to find a way to cut a trillion dollars in overall spending over the next 10 years, and they must do this BEFORE implementing tax cuts.

You live in a consumer based economy. You raise taxes (let the Bush cuts expire) and you will kick this already weak economy in the nuts.

But you are right on spending. Too bad no one in the Democratic party (or even the Republican party) have the will to do anything about that.

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post #7 of 11 (permalink) Old 10-20-2010, 08:22 AM
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Wrong.
why would you cut taxes with out cutting spending first? then you are just growing the deficit and weakening the dollar.

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post #8 of 11 (permalink) Old 10-20-2010, 08:31 AM
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why would you cut taxes with out cutting spending first? then you are just growing the deficit and weakening the dollar.
They should go hand-in-hand. They MUST cut spending, but tax cuts (and renewing existing cuts) promotes consumer spending and hiring, which you need to ultimately increase tax revenue. It will take FOREVER to get the congress to actually immediately cut spending, but tax cuts (and renewals of tax cuts) can be done immediately.

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post #9 of 11 (permalink) Old 10-20-2010, 08:41 AM Thread Starter
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Quote:
Originally Posted by cannonball996 View Post
why would you cut taxes with out cutting spending first? then you are just growing the deficit and weakening the dollar.
Tax cuts do not automatically mean that the government will see decreased revenue. The Bush tax cuts were followed by revenue gains up until the banking fiasco. If not for war spending (and some other fiscal stupidity) we would have had a balanced budget after the Bush tax cuts.

You're right about needed to cut spending, but the need for spending cuts in this country is not related to taxation. Our current need for spending cuts are due to the lack of fiduciary responsibility by past and present Congresses and Presidents. One can debate that tax cuts are part of that lack in responsibility but that increase of revenue short changes the argument. Low taxes are not the cause of our national debt issues, uncontrolled spending is..

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post #10 of 11 (permalink) Old 10-20-2010, 07:32 PM Thread Starter
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Even more on Britain's cuts.

http://www.nytimes.com/reuters/2010/...er=rss&emc=rss

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post #11 of 11 (permalink) Old 10-21-2010, 12:04 AM
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They will cut their military cause good ole US will play world police and carry all the cost. We need to start charging a "protection fee".

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