Thursday, December 26, 2024
 
Readers Skeptical Washington Can Bring Itself to Cut Spending

WASHINGTON, D.C. April 9 (DPI) – Larry Kudlow, Trump’s new economic adviser, wants to cut  the size of the spending package passed by Congress only a few weeks ago. It’s another sign that there are occasional calls to cut spending – but readers say spending cuts are unlikely given the current political climate in Washington. “Not in an election year, especially this election year,” wrote one.

After the tax cuts passed in December, Washington budget analysts foresee a $1 trillion spending deficit by 2020 – and Social Security funds exhausted in 13 years. More and more are warning of a “fiscal and monetary collision” of government borrowing in a time of rising interest rates, which could spur to a hard-to-control economic crisis.

But readers are skeptical that Congress or even the Trump administration have to capacity to claw back the spending plans set in place and agreed to only weeks ago: “Not happening – not in an election year,” wrote one WSJ poster.

“Typical modern Republican attitude,” one WSJ posted wrote.  “Never ever compromise or hold to a deal.  The budget was negotiated, they got some of what they wanted, and now look for creepy, greasy ways to break your promise.”

Yet the call to cut spending isn’t lost on readers:

Federal spending needs to be cut in all areas immediately.  Regardless if the CBO’s estimates are accurate, we are spending too much too often.  All spending needs to be cut folks, domestic and defense.  How much defense spending is enough? Why do we need to spend more than the next ten, eleven, twelve countries combined on defense?

Debt and deficits are starting to appear much more of a long-term national defense threat than spending more than the next five countries combined, instead of the next ten.

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