Starve The Beast
By: Mark Hyman
Washington politicians are fighting budget battles.
President Obama proposes $1.6 trillion in savings. An average $160 billion a year for the next decade. Congress counter-offers with $2.2 trillion or $220 billion a year.
[Just think of it. Washington politicians will spend nearly $10 trillion it doesn’t have over the next decade. But Obama and Congress cannot agree on even small budget buts. These should be the easiest cuts. Low-hanging fruit.
The budget deficit was $1.3 trillion just for fiscal year 2012. It will be nearly as much for fiscal year 2013. Cutting 160 or 220 billion solves nothing. The nation goes bankrupt just a little slower.
Washington has a spending problem. And there isn’t even enough money to cover it. If everyone making $75,000 or more were taxed at 100% the IRS would raise just enough mone to cover today’s discretionary spending.
Entitlement spending alone will still break the bank. Medicare and Social Security will go broke in 2024 and 2036, respectively.
Consider this. If federal spending were cut in half — it would plunge this nation back to the dark ages of — 2001! We’ve doubled federal spending in just a handful of years. We’re not two times better off today than a decade ago.
We’re worse off. And we’re broke.
This will only end when we starve the beast on the Potomac.
Mark Hyman hosts "Behind the Headlines," a commentary program for Sinclair Broadcast Group.