Washington, We Have a Problem!

The Bureau of Economic Analysis (BEA) just reported the following: "The January change in personal contributions for government social insurance reflected the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, which temporarily decreased the social security contribution rate for employees and self-employed workers by 2.0 percentage points for 2011, or $105 billion in January."  In other words, our federal deficit has just increased by $105 billion dollars.  And, Washington can not even come to grips with cutting a lousy $60 billion from a budget that neither Democrats or Republicans can agree upon.  That $60 billion figure is just 4% of what the total federal deficit will be for this fiscal year, which is a complete joke.  If Washington really wants to get serious, both parties must be willing to cut $500 billion this year, $500 billion next year, and cut whatever it takes the following year to balance the budget.  However, what do you thing the chances are that it will happen?  You are correct, ZERO PERCENT!