Monday, November 21, 2005

This Aint Big Lot

There is something wrong with an administration that spends more than it brings into the coffers of the US Treasury. As it stands, America is under a major financial burden. We currently spend way more money than we have available. How can we expect to deal with this quandary? Well The president has suggest massive tax cuts which in theory, are designed to stimulate the economy by giving big breaks to major businesses and the top 20 percent of the populous. My concern is that this may work however, tax cuts with out spending cuts is missing the point.

The apprehension is that President Bush is trying to make this tax cut permanent at a time when he is attempting to figure out how he will pay for the war in Iraq – excuse me I mean terror. In addition, he will have to find a way to maintain troop strength in the region and pay for that as well. The current budget deficit is expected to be approximately 413 billion dollars at the end of this fiscal year. This in light of the fact that the President inherited a budget surplus from the man all conservatives loved to hate Bill Clinton.

Bush asked for and is anticipating 70 billion dollars from congress to making a grand total of $200 billion to pay for the current war effort. That’s equal to $20 billion a month spent so far on the war - a war that started about 20 months ago. I don’t see the cost of the war reducing anytime soon. We need to remind the president that he is not shopping at the Dollar store or Big Lot, if so, he would get more bang for his buck.

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