Two weeks ago on GrokTALK!, we spent a bit of time talking about the deficit. Listener Andy sent this in after the show – I thought I’d share this with you all,
My memory was jogged about this when the phone rang and I was asked to join a teletown hall event and one of the questioners asked about voting to raise said debt limit. Congressman Frank Guinta said that he would not vote to raise unless major spending cuts were enforced (I got dropped from the call before asking my question, which was a follow up: how much would have to be cut, in actual real terms, in order to get a thumbs up?
Anyways, here is Andy’s thoughts:
BOTH BUDGET PLANS FAIL*NO CUTS—MORE DEBT*
Despite reports that the President’s “new” budget plan will cut $4.2 trillion and the Republican plan will cut $5.8 trillion, America needs to understand that these are cuts to our annual deficits. Neither plan cuts anything from our national debt and this is the problem.
In fact both plans:
- Add trillions of dollars to the national debt over the next ten years. (1)
- Do not balance the budget in any year for at least the next ten years. (2)
- Increase the national debt to at least 23 trillion dollars by 2021. (3)
For the media to continue to put forward the mistaken idea that either plan “cuts” the national debt is wrong. Only in Washington DC can we “cut” trillions of dollars and still increase the national debt.
Please help inform the American people that under both plans our national debt goes up by at least 8.7 TRILLION DOLLARS by 2021. There are no cuts to our national debt! (See details below)
Thank you,
