Saturday, May 15, 2010

Deficit Spending

There are an increasing number of people who are concerned about the spending deficit that the federal government is running. The Republicans and the right-wing fanatics particularly like to gripe about deficit spending, but when they control congress and the presidency they are far more financially irresponsible than the Democrats.

Many extremists, radicals, red necks, members of the tea party, and Republicans want to criticize deficit spending in hopes that this will allow them to regain power and control. Using this issue as a tool to criticize the nation's first black president certainly is convenient for these various racists.

I see in the news today that “Greece's defense expenditure is the highest as a proportion of gross domestic product of any country in the European Union, a fact that could hardly be ignored as the country was forced to accept an EU-International Monetary Fund (IMF) bailout to combat its staggering debt load.”

The reality is that the nation's spending on the military, weaponry, independent contractors (mercenaries), and spy agencies must be cut substantially. A 30% to 50% reduction in spending on warfare would still leave America's expenditure far larger than any other country.

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