Caught Up
October 4, 2012
Everyone has been caught up
With the idle chatter
Each minute……
Hour…..
Day….
The press is shooting out more ……
Gotchyas……..
Do you believe what Romney said?
No, but did you hear what Obama said?
All this,
To what end
I still do not hear anyone
Addressing the real issues
I want to give a 20% tax cut to….
Everyone
More trickle down
It did not work
By the way we have a $16 trillion deficit
What are your plans to deal with that!
Obama want to only raise taxes
On those making over $250k
How much will that actually impact
Our $16 trillion deficit?
I saw a great presentation recently
The US Government collected in 2012
$2.470 trillion in revenue
The Government spent
$3.8 trillion on expenses
Hence the $1.3 trillion deficit for 2012
Here is how the Government spending is broken down
Expenses are broken into 3 categories:
- Interest -$225 billion
- Mandatory programs / Entitlements – $2.250 trillion
- Social Security, Medicare, Medicaid
- Appropriated Discretionary Spending – Federal Government Expenses –
$1.3 trillion
- Security – which include military etc. – $868 billion
- Non Security – which includes education, energy etc. – $450 billion
Cross out the Discretionary spending of $1.3 Trillion
And you have $2.5 trillion in expenses between
Interest
And
Mandatory programs
The Government did not even collect
$2.5 trillion dollars in revenue
In 2012
That means they did not have
$1 available to run the government
Remember the discretionary spending?
We had to borrow that
My math mind starts saying
Let’s try a 5% cut across the board
On all expenses
5% of $3.8 trillion is $190 billion
That is not gonna do much
10%
Although better
Is only $380 billion
We want to cut taxes
We want to cut expenses
I have not heard any clear cut answers
What expenses are going to be cut?
We will have an open discussion about that
Once we get elected…..
Or
Once I get re-elected
Take your pick
What is being done to
Correct this issue
Do you remember playing
Kick the can…..
When you were growing up
That is what is being done in Washington
The Presidential debates start next week
Be sure to listen
This election offers 2 distinct choices
On our future
But……
So far
No one is offering any
Real answers
The wait and see
And trust me
Have brought us to where
We currently are
For more insight contact george@hbsadvantage.com
