The War on the US Economy


John Boering
April 15, 2011 by ppjg

The federal government claims the debt is $14.3 trillion dollars, but other economists say the US debt is closer to $200 trillion (based on projected revenue and projected spending). Either way, a $38 billion budget reduction makes no difference. Especially when the federal government’s actual spending will decrease by a mere $352 million compared to last year- as reported by the National Journal:

“The astonishing result, according to CBO, is due to several factors: increases in spending included in the deal, especially at the Defense Department; decisions to draw over half of the savings from rescissions, which are funds previously authorized but not spent; cuts to reserve funds; and to mandatory-spending programs, such as certain farm subsidies.â€