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Originally Posted by RogueGypsy
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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Not your pockets, investors who are buying bonds' pockets. Taxes haven't been enough to cover spending in a while, and most of that spending is on social security, medicare, and the military. So unless when the time comes you refuse medicare and social security, you are actually paying less than what you are getting out of the government.
The result is that some taxes eventually will have to go up, and a lot of this new spending actually comes from cuts in medicare.