Quote:
Originally Posted by dippin
As dc_dux mentioned, these recent plans all are at least partially offset by tax increases.
Medicare part D alone is an unfunded liability not offset by ANY tax increases, and it's unfunded liability has been estimated as being anywhere between 17 and 35 trillion dollars over the next 75 years. The stimulus, which actually contained a hefty chunk of tax cuts that expire, will cost between 1 and 1.5 trillion over its entire life. Similarly, current estimates see the health care reform bill to actually be deficit reducing over the long term. Even if a lot of the offsets never materialize, that is still very far from 17 to 35 trillion over 75 years.
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It remains to be seen whether they will be anywhere near what the CBO predicts. And don't get me wrong, I don't think either party is taking responsibility for their actions. They both spend our money like drunken sailors on Meth. With taxes to offset the deficit or not, in the end it all comes from the same place, our pockets.
It just makes my testicles shrivel to see 3.5 trillion in spending signed into law in a year. No matter who's pen it was.
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