Kay Serrar wrote:
blueraider_mike wrote:
klehner wrote:
Jim @ LOTO, MO wrote:
If you bother to look at the details of the CBO's report, you'll see that huge increases in Social Security and Medicare expenditures (attributable to the baby boomers) over the next decade are the cause of the continuing high deficits. Those two items increase by $1.6 trillion--per year--in ten years. Despite the tax cuts, tax revenues are projected to increase throughout the forecast period, but they simply can't keep up with the overwhelming growth of Social Security and Medicare.
What is the increase in defense spending in this budget?
Defense spending is below 5% of GDP for as long as the eye can see...this is way below our post WW2 average. Its not defense spending. The top item is healthcare spending and other entitlements, period.
The OECD average for defense spending was 2.18% of GDP)
I am not disagreeing that we spend more than others - we can spend less, but then we have to pull way back on what we do and then the rest of the world will have to spend more to pick up the slack, its an option...but you have to look at trends and historical spending. Historically we have spent about 6% of GDP on military spending in the last 40 years, the fact that we are "only" spending 3.3% on military spend shows we are spending less in "real" terms; whereas, in entitlement spending we are spending more and more each year.
Now, a lot of this is a demographic problem that we saw a mile away and NO politician has been willing to address it and so here we are.
Actually, I would argue that are real problem on the budget is based on slowing demographics and its even a worse problem for others in the Western world, specifically in Europe, Russia and Japan. If we has more kids, growth in population we would have more workers, thus more tax revenue to cover others.