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Old 10-16-2012, 09:12 AM   #52
MMM
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Default Re: Should the government cut entitlements?

Cutting the debt/deficit is important and yes there is inefficiencies in government programs but cutting back on entitlements or military spending is not going to make a long term dent in the debt. The government needs to raise revenue and if they can address long term cost in medicare and social security then their might be some hope in tackling the debt issue. Raising taxes is a hard thing to do politically but Americans need to realize that they need to take short term pain at minimum there should not be any further tax cuts as stimulus simply because of the lack of global demand. All Americans need to take on greater tax burden instead of expecting one group or another to pay the bill.

So, a balance of cutting inefficient or ineffective programs, spending in other areas to reduce future runaway cost, reducing military costs, and increasing government revenues.

An increase in government revenues from a growing economy is preferred but that will be tough to accomplish over the next few years. Also raising taxes could potentially kill jobs. However, in this economic environment I believe that only the government has the tools to create the demand we need to kick start the economy. Instead of dead money lets rebuild hard and soft infrastructure;

retrain workers, invest in preemptive health solutions, reduce post secondary and other skill training costs, etc.

Note: I would say I believe that tax cuts can create jobs but I don't think they can in this environment.
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