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Old January 8th, 2013, 02:32 PM   #36 (permalink)
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Originally Posted by Speed Daemon View Post
Cutting spending today does absolutely nothing to pay debts that were run up in the past. Only one thing will reduce US sovereign debt: enough revenue to pay more than the minimum interest payments.
Well one must remember that debt is rolled over, so cutting spending is important with regards to reducing US sovereign debt.

Originally Posted by Speed Daemon View Post
The Republicans are pretending that the only thing to do is to mess with the public trust funds. That's a lie. The trust funds are sacred; untouchable. Harming the poorest, oldest and weakest Americans will solve nothing, and only create more problems.
Trust funds are a bad idea though really imo. Sure, start a few sovereign wealth funds. But I think that social and health spending should be right on the budget.

Originally Posted by Speed Daemon View Post
There are plenty of wasteful spending for war materiel that the US simply doesn't need in a post-Cold War era that we as a nation can do without. The US does not owe defense contractors a living.
Well military spending is quite an effective way of directing the US economy to be fair. Better of putting it into infrastructure however.
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