re: #478 njdhockeyfan

‘Peace dividend’ won’t erase deficits

It’s not even a peace dividend because there isn’t peace. The nation is still at war (or at least our enemies - all of them, including Iran, al Qaeda, are still at war with us) while North Korea, China and Russia are probing the US to see our weaknesses.

Cutting the defense budget is a huge mistake. Running up huge debt that will never be repaid is a colossal mistake. However, the military budget as a percentage of GDP is a function of overall spending, and with the porkfest throwing money out the window on fire, it skews the numbers.

Speaking of the porkfest and the Fed and Treasury’s ability to count, it seems that no one in DC knows how to do basic math, let alone financial accounting for where all the money is going (and has gone).

The government would have been better off printing money and setting it alight, because that’s about as responsible as they’ve been with our money as what they’ve done in actuality. No one knows where trillions of dollars have gone. Social Security is insolvent. Medicare is nearing insolvency.

Obama’s solution? More entitlements that can’t be afforded and taxes that will never cover more than a fraction of the cost. This is going to come to a head, and the results will not be pretty.