The debt ceiling, the debate, the deal, the debate and then the deal again. The downgrade, the market down and up and then down again.
The deficit panel. Compromise. Revenues and cuts.
It’s all there. And America wants a compromise. But before that, I wanna define two things:
When revenues do this:
- 2010 – $2,162.7
- 2011 – $2,173.7
- 2012 – $2,627.4
That is called a RISE in revenues.
When expenditures do this:
- 2010 – $3,456.2
- 2011 – $3,818.8
- 2012 – $3,728.7
That is called a RISE in spending.
Regrding the revenues, it doesn’t matter if you cut taxes, raise taxes or do nothing with taxes. If you take in more money next year than this year, that is rising revenues.
Regarding spending, it doesn’t matter if you “say” your gonna spend an extra $10 bucks but then only spend $5 of those 10, you are STILL increasing spending.