Save our Future – Stop the Deficit Spending

Recent election results confirmed voter concern with unprecedented deficit spending.  Consider the following:

• The US is presently $13.7 trillion in debt.
• The deficit will add another $1.3 trillion to the debt.
• In 2011, the government will spend $30,000 per household while collecting only $20,000.

President Obama appointed a bipartisan deficit commission to address the deficit to keep the United States from ending up like Greece and Ireland. The Commission recommended the following:

1. Cut defense spending by $100 billion.
2. Raise Social Security Retirement age from 67 years to 69 years old.
3. Raise gasoline taxes by $0.15 per gallon.
4. Lower the corporate tax rate to 26%.
5. Limit deductions for home mortgage interest.
6. Cut farm subsidies.
7. Trim the federal work force by 10%.

These are all sacred cows that no one has been willing to discuss.  With unemployment at 10%, creating jobs has become the top priority, leading government to spend another $600 billion to stimulate the economy.  Barbara Corcoran recently indicated on the Today Show that it would be wise for sellers to wait a few years to sell their homes.  With our refusal to address out of control spending, sellers ought to consider where we may be in the future.  It’s possible they could regret waiting.