Wednesday, August 15, 2012

Budget, spending and borrowing crisis

Last post for a while as I go on vacation (again).  Please hold the applause!  I promise to get back to the NDAA issue then.

Come January we might have fewer border patrol and FBI agents.  We might even get lower farm subsidies.  Those are just a few of the automatic cuts that will take place on Jan 2 (a "sequester') if there is no deal to cut spending.  The strategy is designed to force Congress to deal with huge deficits. These deficits currently require the federal  "government to borrow 33 cents of every dollar it spends."  When is sanity going to prevail in D.C.?  Hasn't anyone there heard of the crises in Greece, Ireland, Portugal and all the problems in the EEC?

1 comment:

  1. "'The situation on the domestic side is just as bad as the situation on the defense side ...' said budget expert Richard Kogan of the liberal-leaning Center on Budget and Policy Priorities.".

    Why is there a domestic side? Such affairs are states' business. It's no wonder the federal government's budget is out-of-control. It's because they're out-of-control.