Time to Get Serious about the Federal Budget

There are budget talks going on in Washington led by Joe Biden, who may or may not know where he is or what he is supposed to be doing.  This is all coming down to the debt ceiling and how the U.S. will ever be able to pay off its debt, which has exploded during the Obama presidency with items like the failed stimulus.  Majority Leader Cantor walked out on talks today because of what seems like tax issues.

Lets be clear here.  Democrats do not want to cut any spending with the exception of the military….well because they hate the military.  The majority of federal spending is on entitlements whether it be social security, medicare, medicaid, unemployment, welfare, etc.  If you look at the chart below the amount spent on entitlements in this country is at unbelievable levels.

The last I heard today both the GOP and democrats are talking about reducing the budget down $4 trillion over 10 years.  That is just stupid and won’t do anything to get this financial mess solved.  Trillions need to be cut now, not over 10 years.  The democrats solution for everything is taxes and more taxes.  Raising taxes means nothing if you can’t control the out of control spending problem.  All you are doing is putting money into a hole that is already gone before it actually gets there.  Of course we know the intentions of democrats and their high tax schemes is to punish successful people and keep up their class warfare which they will use this upcoming election season.

Everything in the budget needs to be cut, including both entitlements and defense spending.

For starters:

• Eliminate all foreign aid and bailouts of foreign governments.
• Abolish the Department of Education.
• End all subsidies for farms, energy, etc.
• Reduce the amount of military bases around the world.
• End ObamaCare.
• Cut and limit entitlements such as welfare.

This is just a drop in the bucket, but it is a start.  Unfortunately, no politician on either side will even touch any of these things.  The reality is the U.S. debt is at a point of which it is un-payable and it is not a matter of if, but when the entire economy will go down with it.