WASHINGTON — Republicans controlling the House have fashioned plans to slash the budget deficit by about $5 trillion over the upcoming decade, blending unprecedented spending cuts with a fundamental restructuring of taxpayer-financed health care for the elderly and the poor.
Sounds like big cuts but think about this.....$5 trillion over 10 years is only $500 billion a year.....Our interest payment on the national debt is in excess of $400 billion each and every year.
Washington (CNN) –- Vice President Joe Biden announced late Wednesday that House and Senate bipartisan negotiators had agreed to a spending-cut target of $73 billion in 2011 budget talks aimed at heading off a government shutdown before next week, when a temporary bill keeping the government operating runs out.
Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
Although 73 billion is better than nothing, but it is like trying to bail out the Titanic when it was sinking with 5 gallon buckets.
And you think $500b a year is really any better? Yes it is a bigger number but it only pays the interest for the debts accumulated for years past. It pays nothing towards the national deficit principal nor does it stop us from going deeper in debt.
I hope and pray this is only a start and the cuts will go deeper....but I doubt it.
Re: GOP propose $5 Trillion budget cut over next decade
You guys in this thread are confusing the 2011 budget proposals with the 2012 budget proposals.
The whole $34 billion/$73 billion budget cuts are for the 2011 budget.... which by the way started last October. Meaning we've been running this country since October without a budget.
The $5 trillion budget cuts pertain to the 2012 proposed GOP budget. The 2012 budget begins October 1st of this year.
Now.... have fun kiddies.
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