3 Big Lies About Cutting the Deficit

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You have many entrepreneurs that have taken their businesses overseas to cut costs and maximize profits, at the expense of the American worker. These entrepreneurs have also reaped the benefits of the Bush tax cuts. I say tax every shipping container coming from China 10 thousand dollars. Take those taxes and offer business loans to companies that want to invest in the USA, and hire American workers. Yes I hear all the time. "Its the unions that did this." This is BS. In fact our biggest problem with the unions are not in the private sector but the public sector. Name me one private company that pays it workers a pension of 100%? The public sector does. Most companies that still offer pensions range in the 20-40% percentile. The US government got us into this mess, now either get us out of it, or get out of Washington completely. Because you'll see the same thing happen here, that has been happening in Greece, and other countries. And it will far surpass the L.A. Riots of 1992.

et of CA 12:10PM July 27, 2011

this benefit is somthing that ,every time you look at your paycheck stub that has been taken out of your paycheck,every worker in the united states for a lot of years,dont tell me that all the money is gone , unless it has been given to people who have never worked. if they would give this money back to the people who PAID INTO THE PROGRAM THE WORKERS COULD RETIRE AT A TIME THAT THEY WOULD NEED IT , FOR SOME REASON SOME PEOPLE GET BENEFITS THAT NEVER WORKED A DAY INTHEIR LIFES,OF YES AS FOR MEDICADE THEY HAVE BETTER BENEFITS THAN THE PEOPLE WHO WORKED THEIR REAR ENDS OFF A POSSIBLY WORE THEIR BODDIES OUT, NOW THEY CANNOT AFFORD THE SOCALLED HEALTH INSURANCE.

Rosemary Smith of AL 9:01AM July 07, 2011

"During the eight years of the Bush administration, the national debt rose by about $6.1 trillion."

What Dribble!

brent of NM 1:29PM April 09, 2011

Military Retirement, right. If you like it so much take your useless butt into the military for 20 years. Besides that's small spending your just jealous.

Decifit reduction will always be cripled as long as all the jobs that produce are overseas. They further cut spending in this country and spend overseas, all those idiots running around yelling about how great free trade is. The world is in a recession because the US is in a recession. Look at Greece, you either work for the government or not at all. Why do you think they had a decifit that had to be bailed out.

Don of VA 10:26AM April 04, 2011

I got tired of stressing over when our leadership would do the right thing.

It's a lot easier to just buy silver and hope they continue to criminally mismanage this country. Ahhhhh.....take a deep breath and root them on. Spend babies...spend.

Dave Braga of CA 7:20PM April 02, 2011

Why is military retirement never mentioned in the talks about the U.S. budget.

I have read that it is never included as a budget line item, even though it is paid by our taxes and is a tremendous amount, contributing greatly to the deficits.

If Social Security has to have cuts, then so too should the military retirees - most of the officers, at least, have very generous retirement pay and benefits.

Grammy of CA 4:37PM April 01, 2011

Take all the deductions away from everybody, and every company, Put a 10% Tax on all income from all sources and pay off the debt. Stop sending guns and "helping" in every war that comes down the pike.

It is conceivable that insurance and credit cards are the worst things to hit this country in history. Everyone wants to be wrapped in cotton from the cradle to the grave. At the very worst, have a major medical insurance available and make us stand on our own two feet for the rest. Anyone should be able to pay for 10% of their own costs. Encourage savings accounts by making it unsocial to not have one. Oh yes, and begin teaching children that stealing is the worst sin, stealing money, stealing time, stealing lives....you get the idea.

Sue Preacher of FL 2:03PM April 01, 2011

Thank W. for this mess. President Obama got stuck with the clean up duty. I am not satisfied with the job he has done either, but I give him credit for trying. He has not had a lot of help.

Sharon of KS 8:54AM April 01, 2011

You almost had the perfect title for this article except it's just one big pile of lies.

Middle class tax rates have to go up? How about those poor people making over 200k that are 'just getting by'?

Oh right, we have to wait for their slops to 'trickle down' to the rest of us.

By the way, in case you havent noticed, the middle class has died off waiting for scraps while CEOs got golden parachutes for sending millions of jobs overseas and creating the widest disparity ever between the top earners and average people all while fleecing America for trillions of dollar and millions of jobs we'll never see again and they got off scot free 99% of the time.

How about we stop giving tax breaks to those who keep hoarding all the wealth they have or corporations that come up with creative accounting practices to pay no taxes on billions of dollars in profits?

Oh no..thats crazy talk. Because the really big lie is that if you tax the top earners and companies they wont create jobs. Except they already sent the jobs away and still arent creating any new ones so now what?

Well maybe..just maybe..we could stop spending more on defense than every other nation in the world combined? Why do we always have to pour billions of dollars into countries to blow them apart and create more people wanting us dead? We've created a never ending cycle of spending on defense to stop the enemies we create. Dont believe me? How much did we give to Saddam and Osama in the 80s under Ronnie Raygun (the glorious and never wrong)? How well has that worked out? Now we want to go into Libya again? Hey, why not go back into Vietnam too? In fact, lets just start bombing everyone. We'll war our way back to economic prosperity!

Was this article paid for by republicorp?

A Critical thinker of WA 2:48AM April 01, 2011

You voted for him America - Thanks, now we are all screwed. Our savior - indeed ............

Bob Smith of ID 11:09PM March 31, 2011

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Rick Newman

Rick Newman

The global economy is mysterious, even scary. Chief Business Correspondent Rick Newman connects the dots. In addition to his writing for U.S. News, Rick is the co-author of two books: Firefight: Inside the Battle to Save the Pentagon on 9/11, and Bury Us Upside Down: The Misty Pilots and the Secret Battle for the Ho Chi Minh Trail.


Read Rick's latest blog entries here.

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