New US Budget, New Record Budget Deficit

[Don Corleone]

I think there's more of us than you think Lemur. I'm with you. I don't believe in defecit spending, and all these giveaways, like free viagra for Grandpa are just ridiculous. Did you guys know that according to the current IRS rules, certain tax credits can actually garner you a rebate for larger than the amount you owe?!?!

No kidding. Let's say you owe $5K in taxes. But you take the Childcare Tax Credit, and it gives you $8K. Even though you didn't pay 1 dime in taxes, the IRS will send you a check for $3K!?!?!? If we're going to pass a law that we're going to pay people to put their kids into childcare, then we should do that. But tax credits, as defined, are a reduction of debt. Only to the fools in DC do they equate to an actual earning if they exceed your tax.

I'll grant you, spending on defense, especially with only $50 billion scheduled for Iraq when the most conservative estimates put the figure at 3x that, is getting completely out of control. But there's so many giveaways in the Federal budget now, it's hard to see how we're not all getting rich. And it's all just credit card debt. We're running up the tab for our kids to pay down.