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October 10, 2015, 07:46:45 AM
555327 Posts in 42366 Topics by 5443 Members
Latest Member: discodger Forum  |  Movies  |  Press Releases and Film News  |  Federal deficit soaring, but McCain, Obama offer no answers « previous next »
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Author Topic: Federal deficit soaring, but McCain, Obama offer no answers  (Read 942 times)
B-Movie Kraken

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Either he's dead or my watch has stopped!

« on: September 09, 2008, 10:52:44 PM »

Federal deficit soaring, but McCain, Obama offer no answers  

WASHINGTON — Just weeks before the government's fiscal year ends Sept. 30 , the nonpartisan Congressional Budget Office on Tuesday projected a near-record federal budget deficit of $407 billion , sharply higher than White House projections six weeks ago and more than double last year's figure.
Mammoth federal-budget deficits feed inflation, make America dependent on foreign lenders, cost taxpayers hundreds of billions of dollars in interest payments on the growing national debt and drain capital savings from more productive investments.

The widening gap between what the government spends and the revenue it brings in is sure to weigh on the next president and impede his efforts to spend on new or larger programs or to cut taxes.

Yet John McCain and Barack Obama show few signs that they're ready to take tough steps to curb deficits, according to budget analysts...


If you want to view paradise . . . simply look around and view it!
Frightening Fanatic of Horrible Cinema

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Pathetic Earthlings

« Reply #1 on: September 09, 2008, 11:15:29 PM »

The only way to cut the debt is to cut the size of government and cut the wasteful spending, by far our biggest out lay of cash is to entitlements which is ripe with fraud.

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