DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Breaking: President to address nation tonight, 9pm EST

**nicktender** · 07-25-2011, 11:20 PM

I don't know how good this information is but here's what is being reported:
www.redstate.com

- $1.2 Trillion in cuts over 10 years vs. $1 Trillion in borrowing today
- Additional $1.8 Trillion in cuts (again, over 10 years) with $1.6 Trillion additional borrowing assuming the cuts are approved.

Net effect? Potential for debt reduction of $400 Billion over 10 years or $40 Billion/year.

EXCEPT

3% interest on $2.2 Trillion? $66 Billion per year.
Net savings? per year IF the spending cuts really happen.

Good idea?

The biggest problem I see with this is, What are they going to cut?

07-25-2011, 11:20 PM	#5
nicktender Join Date Oct 2005 Posts 403 Senior Member	I don't know how good this information is but here's what is being reported: www.redstate.com - $1.2 Trillion in cuts over 10 years vs. $1 Trillion in borrowing today - Additional $1.8 Trillion in cuts (again, over 10 years) with $1.6 Trillion additional borrowing assuming the cuts are approved. Net effect? Potential for debt reduction of $400 Billion over 10 years or $40 Billion/year. EXCEPT 3% interest on $2.2 Trillion? $66 Billion per year. Net savings? per year IF the spending cuts really happen. Good idea? The biggest problem I see with this is, What are they going to cut?
	Quote