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Soldier
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I was a big supporter of Obama at the beginning and am pleased with much of his social and foreign policy. However, the financial decisions his administration has been making are simply a disgrace - especially the new budget. The deficit went... up?!?!?!?
Like it or not, fiscal austerity is now a necessity. Domestic spending must go down. Only education and infrastructural maintenance should be left alone. Even defense spending must be radically reduced - and I say this as a deployed soldier. Yes, that means cuts to medical programs and entitlements and other popular items. Yes, that means a few people out there may die from lack of government support. Either we make sacrifices now or pay onehundredfold later.
All the while, taxes must go up. This is the only way to balance the budget. Spending cuts and tax hikes. Why the Bush tax cuts were made permanent boggles the mind. Even if we balance the budget, we will still have $8 trillion in federal debt and almost $4 trillion in state debt that is slowly maturing. This will not get paid off with a merely 'balanced' budget.
True, we could sit around hoping for another wild tech boom to save us, but that is likely a pipe dream. How can it possibly be wise to continue living recklessly in the hopes that a presently-unforseen windfall will magically appear sometime in the future?
Either we as a country remedy our financial practices on our own, or the international markets will remedy them for us. And I guarantee the former is vastly preferable to the latter.
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