Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: TimF who wrote (107471)	7/10/2011 11:38:34 PM
From: rich evans	1 Recommendation Read Replies (1) of 224757

All very well said. Check out the Unified Budget act of 1974. This is all just accounting. And it applies to not only SS but every other agency or so called trust fund. So what counts is the obligations to all of us, or the so called entitilements versus the total tax revenue which includes SS payroll, income, other taxes and fees etc. Unfortunatley they total only 15% of GDP versus a historical 18.8% and spending has increased to about 25% of GDP versus a historical 21%. Hence the problem. The trade deficit continues at 5% of GDP which means the foreigners are contributing to our deficit of about 5% which historically worked out fine but no longer since our deficit is now 10%. What will happen? Rich

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