@Cycloptichorn,
Cycloptichorn wrote:We need these monies to cover shortfalls in the Federal budget.
Federal receipt (i.e., revenue) shortfalls are best reduced by cutting federal spending. That better permits the private sector to grow and prosper.
Federal receipts have increased each and every year 1980 to June 2010, regardless of tax rates over the same period. However, jobs decreased significantly after 2007 when the Democrats took control of Congress and Bush accomodated their spending increases via TARP. Then Obama not only continued Bush's spending errors, he expanded them!
FEDERAL OUTLAYS
1980.............$0.591 trillion [CARTER]
1988….......….$1.064 trillion [REAGAN]
1992..............$1,.382 trillion [BUSH41]
2000.............$1.789 trillion [CLINTON]
2008.............$2,902 trillion [BUSH43]
2010 (June)....$3,049 trillion [OBAMA]
FEDERAL RECEIPTS
1980.................$0.517 trillion [CARTER]
1988…............…$0.909 trillion [REAGAN]
1992.................$1.091 trillion [BUSH41]
2000................$2.025 trillion [CLINTON]
2008................$2.662 trillion [BUSH43]
2010 (June)........$2.955 trillion [OBAMA]
PERCENT OF POPULATION EMPLOYED
1980…………………………………….59.2 [CARTER]
1988…………………………………….62.3 [REAGAN]
1992…………………………………….61.5 [BUSH41]
2000…………………………………….64.4 [CLINTON]
2007…………………………………….63.0 [BUSH43]
2008…………………………………….62.2 [BUSH43]
2010 (June).………………………….58.5 [OBAMA]