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Economy
See other Economy Articles

Title: What is Really Driving the Deficit?
Source: Dissenting Opinions
URL Source: http://jwpegler.blogspot.com/2011/0 ... is-really-driving-deficit.html
Published: Aug 5, 2011
Author: Eric Blankenburg
Post Date: 2011-08-05 01:50:01 by jwpegler
Keywords: None
Views: 3350
Comments: 5

We spend $700 billion on the military each year.

If we leave Iraq and Afghanistan we save $100 billion.

If we leave Europe, Japan, and South Korea we might save $100 billion more.

I support downsizing those commitments right now.

That leaves us with $500 billion in military spending, which is less than 3.5% of GDP. That would be lowest military spending since before WWII. It's a reasonable price to protect the country.

The deficit this year is over $1,500 billion. Take $200 billion out of the military and we still have a $1,300 billion deficit.

Yes military spending needs to be reformed, but it is not the primary driver of the deficit.

The primary driver of the deficit is that over half the people in the country receive a government check.

Until that fact really sinks in, we are going to continue hemorrhage money.

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#5. To: jwpegler (#0)

Wars and the Military.

Subsidies to the Top 50 000.

1400 millionaires paid no taxes.

mcgowanjm  posted on  2011-08-05   8:22:02 ET  Reply   Untrace   Trace   Private Reply  


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