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alstry (35.31)

Geithner Fails At Math Too.

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February 07, 2010 – Comments (1)

The U.S. plans to rein in the deficit once the labor market recovers, Geithner said. In the short run, that means focusing on ways to “make sure that this economy is growing again,” he said. The administration says the deficit will shrink over the next four years as more Americans find jobs and the economy accelerates.

IT IS VIRTUALLY IMPOSSIBLE TO SHRINK THE DEFICIT WHEN GOVERNMENT IS GROWING AND TAX RECEIPTS ARE EVAPORATING against a massive debt burden.....unless  those who are capable of paying are taxed EVERYTHING they have......

Desperate to save police, fire and other city jobs, a divided Phoenix City Council on Tuesday approved a sales tax on grocery items that will generate tens of millions of dollars a year.

The 2 percent food tax will take effect April 1 and expire after five years, though Mayor Phil Gordon said the council has the option of reversing its decision after it hears from the public during 15 budget hearings planned for this month.

Phoenix shoppers who buy paper towels, toothpaste and other non-food items at a grocery store already pay an 8.3 percent sales tax, 2 percent of which goes to the city. But Phoenix has not taxed food items since the early 1980s.

Taxes are a poor substitute for doing the heavy lifting of re-thinking, reorganizing, and re-prioritizing government. Phoenix City Councilman Sal DiCiccio has pointed out that the average cost for a Phoenix city employee is $100,000. In just the past six years, the City of Phoenix budget grew by 59.6 percent, more than double the sum of inflation and population growth.

A TAX ON FOOD IS A TAX ON THE POOR AS MORE AND MORE ARE USING FOOD STAMPS AND DRIVEN INTO POVERTY.

Michigan - College Food Banks Step Up For Students Struggling to Pay Bills  

Unless we restructure soon.....under current zombulation policies, even taxing 100% of our current income and assets will not be enough to balance the budget.

NOW THE RIOTING BEGINS........

http://globaleconomicanalysis.blogspot.com/2010/02/how-unions-destroyed-greece-union-greed.html

*some links taken from Mish's blog and rearranged.

Will governments be forced into escalating conflict to distract their populations' frustration????

Bombing Exposes Secret US War Inside Pakistan

THE discovery of three American soldiers among the dead in a suicide bombing at the opening of a girls’ school in the northwestern Pakistan town of Dir last week reignited the fears of many Pakistanis that Washington was set on invading their country.

Israel's Threat of War Tops Beirut Agendas

US Doesn't Foresee Deal With Iran in Near Future

* links from http://www.antiwar.com/

1 Comments – Post Your Own

#1) On February 07, 2010 at 2:47 PM, russiangambit (29.24) wrote:

I put as much faith into "reduce deficit" policy as I do in "strong dollar" policy. After all they are 2 sides of the same coin.

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