CBO says US to Fall off fiscal cliff
The CBO is saying that if we let the "Bush era tax cuts" expire, we will enter another recession. The issue is not revenue, the issue is spending. We can't continue the trend of deficit spending that we have been on for the last 20 years. We live in a great country, but as a country we can't give everyone a free ride.
If we continue the tax cuts permanently it will "cost" the US roughly 3.3 trillion over 10 years. I use "cost", because it is not costing the government anything, its not "costing" the government anything. The government doesn't make money, they take money, they are "letting" people keep the money that they earned. 3.3 trillion over 10 years is a drop in the bucket, we are currently at 15.7 trillion (not over 10 years, that is now).
We need to freeze government spending at current levels as a start, not automatic increase next year. We need to elect people into our government that understand what it takes to live within you means.
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