Deficits Shouldn’t Be A Surprise

I see that the headlines are now screaming that we’re headed for “RECORD DEFICIT IN 2009”. What’s annoying about it is that the news story I read leads the reader to believe that it’s entirely because of the sagging economy and the stimulus payments to 130 million households.

There was very little mention of the “war on terrorism” and the war in Iraq. I didn’t see a word about Afghanistan either. I did see that apparently this estimate is short of the potential reality because the White House is not coming up with all of the numbers that they’re required to:

The administration actually underestimates the deficit, however, since it leaves out about $80 billion in war costs. In a break from tradition – and in violation of new mandates from Congress – the White House did not include its full estimate of war costs.

As if that’s not enough, there’s all the legendary wasteful spending by Congress on everything from fancy parties in las vegas hotels at the public’s expense to some of the most idiotic, useless and generally brain dead research programs you can think of… all being funded by tax dollars.

Combine that with the fact that, percentage wise, the richest people and businesses pay the smallest portion of taxes it’s no wonder. If there was a flat, across the board, the same 10% rate for everybody and every business with over $30,000 a year income. The budget problems would be on the way to a cure. Then all we’d need is to vote out the people in Congress that are wasting so much of it and that’d fix the rest.

[Tags]economy, deficit, budget deficit, recession, depression, white house, congress, spending[/tags]