Quote:
Will said:
And the problem with the US debt is that the interest payments on it is the second biggest expense each year for the Federal government... the only thing costing more is the military. I think right now, the breakdown is something like 40% of income tax (this excludes the SSA and Medicare taxes taken out of paychecks, as these are supposed to be seperate budgets) goes to the military, and about 33% goes to interest on the debt. (I can't seem to find any numbers Online to confirm this...) Which is why I'm not happy with Bush for cutting taxes, because now I'm going to have to carry that huge debt for most of my life. I know it's not feasible to completely pay it off, and I don't expect the Feds to pay off everything. But paying off enough to get payments down to around 7%-12% of total budget from income tax would make things infinitely better (IMHO).
At the rate we're going now, there can legally be no more debt (we've hit the $7.4 trillion limit already). So, we're either increasing the limit to pay for the wars, or Bush is cutting more programs to keep his precious corporate tax cuts, or he raises taxes on everyone, going against his promises... While Osama laughs as his plans succeed yet again. Something has to break soon.
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Okay that whole Last Paragraph was rather useless as you had made a good point with the first on and then just blew that out the window with your second paragraph.
Okay we get the point you don't like Bush but at least we aren't paying for his laywers while he bangs interns lol....
Or in Kerry's case at least we're not paying for his botox hehe. (just a joke don't start anything!)