NY Times: White House Predicts $482 B Deficit
Since the last posting talked about the National Debt, let's use this article to demonstrate the primary contributing factor to that Debt--Budget Deficits.
The key to our financial health and the value of our currency is maintaining a balance between tax revenue collected by the government and spending by that same government.
Getting control of spending won't be easy. The money that's spent turns out to be someone's revenue stream somewhere. When you cut spending, you impact whoever was getting that money.
Here's a link to the article.
http://www.nytimes.com/2008/07/29/washington/29budget.html?_r=1&th&emc=th&oref=slogin
The key to our financial health and the value of our currency is maintaining a balance between tax revenue collected by the government and spending by that same government.
Getting control of spending won't be easy. The money that's spent turns out to be someone's revenue stream somewhere. When you cut spending, you impact whoever was getting that money.
Here's a link to the article.
http://www.nytimes.com/2008/07/29/washington/29budget.html?_r=1&th&emc=th&oref=slogin
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