Monday, November 7, 2011

Debt crisis

With all the news about the deal to raise the debt ceiling it is hard to find specifics but here is what I found about the first two years.
In return for this increase, nearly $1 trillion in cuts over 10 years are planned through spending caps. A cut of about $7 billion in discretionary funding is seen for 2012 compared to 2011, and 2013 discretionary spending would be $3 billion below current levels
During these two years the US budget will be over 3000 billion per year and out of this 6000 billion we will cut 10 billion. By 2014 we will have a new congress that is not bound by anything this congress passes so it is any bodies guess as to what will happen at that point. After all of the fighting, scare tactics, name calling, and demagoguery they cut 10 billion out of 6000 billion.
This would be like me cutting my $6,000 per month budget to $5,990. I guess I am willing to make the sacrifice and do my share so we can spread the pain. I guess I’m just a patriot.

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