I have yet to get excited about the "yes we can man" Bo. He has all these ideas and I'm scratching my head wondering where the money will come from. I figured I would turn to some of the intelligent, well informed people of the
DB that support the "yes we can" man to help me out.
Some of BO's proposals include:
*Universal health care coverage
*Lower insurance premiums for all families
*Subsidized premiums for those who can't afford them
*Tax cuts for Americans that make less than a certain amount
*Increasing the minimum wage
*$4000 tuition credit for EVERY student
*Helping out people who have made bad choices and are in foreclosure
*Fixing the infrastructure of America
This is what I found...
The federal budget deficit is projected to exceed $400 billion next year. Deficits are paid for by borrowing. The gross federal debt, the sum of what our government owes, is in the neighborhood of $9 trillion.
That means there's less room to borrow to deal with the growing budget pressure as boomers retire.
By 2017, Social Security is expected to begin paying more out in benefits to retirees than it collects from workers. And the number of Medicare recipients will grow from 44 million last year to 58 million over the next decade.
Increased spending on health and welfare programs for the boomers will start to crowd out other federal spending. That's why the two Democrats' mounting campaign promises raise concern among budget experts, who aren't hearing much about where the money would come from.
Also....
To pay for it, he cited without specifics higher taxes on the wealthy and corporations, billions of dollars from "polluters" to pay for alternative energy and ending the Iraq war, which is costing an estimated $9 billion a month.
"We can invest that money in rebuilding roads and bridges and hospitals right here in Houston — building schools, laying broadband lines, putting people back to work, employing young men and women in our inner cities, in our rural communities," he said to cheers.
That $9 billion in war spending, however, is largely borrowed money, much of it from China and Japan. If Obama intends to redirect war spending to domestic needs, it still would be deficit spending.
Some of these idea's are actually good. I believe our infrastructure needs fixing. What I couldn't find is any of them promising tighter border security. At any rate how do ya'll think we will pay for these things or do you think they will never come to fruition?