Thursday, February 17, 2011

Future PAIN if government cuts are not instituted NOW!

Why cut? You claim that it is bad to cut government spending because of the pain it will cause.
Perhaps a little pain, but how about this pain, this future pain to the entire economy!

 House Budget Committee Chairman Paul Ryan (R-WI) framed the stakes during an interview on Mark Levin's radio program on Monday:  

I asked the CBO for these numbers, I know them off the top of my head. My kids are 6, 7 and 9 years old... by the time my kids are my age -- I'm 41 -- I asked the CBO, "What will the future tax rates have to be if we don't get this debt under control?" And this was before the current budget, which makes it worse.

 They said the lowest tax bracket, now at 10%, goes to 25%. Middle income tax brackets go to 66%. And the top bracket goes to 88%. We've had those numbers run.

 Look, the CBO -- their own economic model breaks down in 2037. Because the computer at the Congressional Budget Office basically says [it] can't conceive of the economy continuing past 2037 because of the strangulation of debt. Because of the debt burden.

 So they think the economy crashes well before my kids are even raising their own kids.

 Is it morally correct to hamstring future generations this way, for this purpose, for any purpose?


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