On the recordJanuary 6, 2011
I appreciate an opportunity to talk about a subject that I think has been on a lot of Americans' minds over particularly the last couple of years, and it's the subject of spending cuts in the Federal Government. Now, unless people are perhaps tuned in to some other planet, they realize that the Federal Government is spending more money than we take in, and so we're running all of these deficits. Therefore, the idea is that we need to do some spending cuts. So that's what we wanted to talk about here for a little while... if you take a look at the spending projection for 2011, it's $3.834 trillion, and the income projection is $2.567 trillion. The two numbers aren't the same, as you notice, and basically we're spending more than a trillion, close to a trillion, trillion and a half dollars that we don't have. And that suggests, for most Americans that have some level of common sense, that we're going to have to make some cuts in spending.
