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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: TH who wrote (259653)	7/9/2010 3:20:00 PM
From: RetiredNow	Read Replies (2) \| Respond to of 306849

Yeah, but it is interesting nonetheless. I mean if we're running a $1.3 trillion deficit and $700 billion of that deficit is due to Bush's two tax cuts, then allowing those tax cuts to expire would solve 54% of the deficit problems. So it seems to me that the 4% of the problem which is related to discretionary budget items is really just a red herring that is being used for political purposes. At the end of the day, the piper is going to have to be paid. Whether that comes in the form of higher taxes, lower spending, through erosion of purchasing power by QE, or all of the above...we all know that it's going to have to happen. So bitching about the need for action on the 4% of the problem seems out of proportion to where the real medicine needs to come from. That's my take.