Doubling the Debt in Ten Years
The recent announcement that our federal deficit for this year alone will be 1.6 Trillion dollars is troubling. This is the spending that has taken place in excess of our current federal budget of 3.1 Trillion dollars. The federal government estimates to receiving 2.7 Trillion in revenues and the initial deficit was estimated at 600 Billion dollars when this budget was approved by G.W. Bush. For more information on how the budget is divided up among federal agencies go to:
But even more alarming is that this current trend is expected to continue for Ten years, see this article for more details:
Congress Project record US Deficit
Our current total government debt, as of today is approximately 11.7 Trillion dollars. It is projected to be in the neighborhood of 20-22 Trillion dollars by 2019.
This amount of debt will surely lead to stag-flation, which is a stagnant economy with inflation. We need to approach this just as a business would and call for federal budget cuts across the board. Put each department under review and determine if it is actually needed and force them to justify their budget.
One of the worst arguments I hear in the Health Care debate is that the government will bring about cost savings in Health Care by introducing efficiencies. It is apparent to me that they are the model of inefficiency and need to clean house before even thinking about creating another huge bureaucracy and entitlement costing the tax payers even more Trillions of dollars.
Plaintiffs’ lawyers impede economic recovery
Dear Mr. Janes,
I am an Alabama resident.
I think plaintiffs’ lawyers impede the country’s economic recovery. I also think they undermine business ethics. They particularly stand in the way of sensible medical malpractice reform as a way to lower the nation’s health care costs.
I have a blog How To Combat Plaintiffs’ Lawyers where I record my efforts to communicate with lawmakers, judges, attorney generals and academics, among others, about how I believe plaintiffs’ lawyers ill serve societal interests.
I receive no remuneration for any of my activities. I am not a member of any tort reform organization, chamber of commerce, or any other organization that has an interest in opposing plaintiffs’ lawyers.
Congress is debating more stimulus, health care reform, and other governmental action to get our nation’s economy back on track, and the country is moving toward the 2010 elections that will be a referendum on how the current Congress performs about these important domestic issues.
I hope you, as a United States Senator or Representative, or as a candidate for the Senate or the House of Representatives, will look at the contribution the plaintiffs’ lawyers make to the country’s economic difficulties and will consider, advocate and propose legislative action to lessen the problem of the plaintiffs’ lawyers.
Thank you.
Sincerely,
Robert Shattuck
You can not simply hold up $ 50k and suddenly there is a job, so where would these 3.6 million jobs come from?
First, why do we need a commission. If Congress did its job they would come up with a combination of meaningful spending cuts and tax increases to balance budget and reduce deficit. Second, why would the Republicans not participate. They can either prove themselves to be part of the solution or they can be part of the problem. It is becoming more and more apparent that the Republicans have no plan and no agenda to solve America’s problems. They are becoming nothing more than an obstructionist party that is controlled by people to far to the right.