In response to:

Agree on Goals, Guys

rpaul719 Wrote: Dec 03, 2012 2:40 PM
Actually, spending is out of control. However, we should understand that spending is only going to get worse with additional rises in interest rates. The more important decisions to be made are not necessarily in entitlements, but in the clandestine budget, the budget that is kept off the books. These budgets are becoming overbearing and are mostly redundant, at best. We need to be grown ups about this topic, as well as others.

The biggest obstacle to a bi-partisan deal for avoiding the fiscal cliff involves an inability to agree on specific, common goals. The underlying aim for Democrats is to close gaps between rich and poor by raising taxes on the wealthy; the deepest goal for Republicans is to slow the growth of government by cutting spending.

 

Both sides, however, already recognize the urgent need to boost revenues while simultaneously reducing expenditures. This year, government spending reached one-quarter of GDP—close to a seventy-year high—while receipts amounted to only 15.8%, close to a postwar low. Over the next decade, spending must decline to...