The spending by the federal government is growing at an uncontrollable pace. Both parties agree that something needs to be done about this. I don't see the democratic party proposing a solution to the problem. Federal spending has grown to be around 25% of economy, this is a level above the average rate that we have seen in this country. 20% has historically been the average size of the federal budget compared to the economy.
Today I saw a by House Budget Committee Chairman Paul Ryan which proposed to slash $6 trillion from federal spending over the next 10 years. Some have went as far as to say that this is not enough cutting because http://www.blogger.com/img/blank.gifunder this proposal the budget is not balanced for many years. Many people from the tea party have expressed the desire to balance the budget in as few as five years. This is not an attainable goal because so many austerity measure would need to be taken.
There is a fun game on the NYT website where you have to balance the budget. The link to this game is below.
http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html
Paul Ryan also released a video on youtube talking about his plan to balance the budget.
This is the most important issue that is going on currently and not that many people my age are seemingly paying attention to this battle. We will be paying the price in a good way or bad way in the future based on what decisions we make as a country going forward. I want government spending controlled and reduced to typical levels in history and not grow.
I do not care which party does this but I just want it done.
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