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"One should either write ruthlessly what one believes to be the truth, or else shut up."

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Friday
Jul292011

To Save Life As We Know it

It almost goes without saying, Nancy Pelosi said something rather odd:

“What we’re trying to do is save the world from the Republican budget….we’re trying to save life on this planet as we know it today.”

While I have said that the Republicans have good and valid reasons to be reluctant to raise taxes, raising taxes is necessary. Even if the Democrats were given all the tax increases they might want, lets say 4 trillion-4 times what they have been asking for, that would still leave 9 trillion in deficits over the next 10 years. So with a large tax increase no one is talking about we would still need an across the board cut of 33% to balance the budget. Social Security checks would be 33% less; Military payroll would be 33% less; Medicare would be 33% less. I do not think that many in government will admit, even to themselves, how bad the situation really is. 

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