unofan
Well-known member
Re: The 2011 Budget of the United State - Alice, you're not going to the moon!
It's also impossible to roll back spending entirely, since you can't exactly pay more retirees their S.S. with the same amount of money without cutting the per person expenditure (ie, individual benefits). And the interest on the debt can't be cut, either.
But whatever. For purposes of this post, I'll go with you and say we can do a complete rollback to the 2008 budget. That cuts about $550B. Only $750B to go.
Using the 2008 budget numbers (since we've rolled back to those spending levels), that'd save about $150B - $70B from HHS, $56B from education, and $24B from Energy. Of course, I think most people would prefer to keep the Nat'l Institute of Health, the Center for Disease Control, and the Food and Drug Administration in some form, not to mention our nuclear weapons program (actually Energy's responsibility; they're on loan to the DoD).
But again, for purposes of this post, whatever. Still have $600Billion to go.
I'm with you so far. Not sure how much it saves, but let's say that for each year the retirement age is pushed back, SS and medicare spending drops by a combined $20B. So we push it back to 70, and save $100B. Only $500B to go.
So $100 million divided in half is $50 million. Still $493.95B to go.
Well, you got about 3/5ths of the way there. Not sure where that last $493B is going to come from.
I'm not saying we need to raise taxes to cover the whole amount, I'm all for spending cuts too. And presumably, as the debt gets paid off, taxes can be lowered since the $200 billion/yr (and growing) in interest will get smaller over time.
But to say that increased taxes won't be a necessary evil is naive at best and idiotic at worst. There's no way to cut $1.3trillion in spending when the entire discretionary budget is only $900Billion or so.
Kind of one and the same, since if we roll back spending, then the stimulus money isn't there to throw back. Also, a one-time shot of $500B towards the debt is nice, but doesn't solve the ongoing issue of the deficit.Roll back all spending increases from the past two years. Put the $500B that is left to spend on the stimulus towards paying down the debt.
It's also impossible to roll back spending entirely, since you can't exactly pay more retirees their S.S. with the same amount of money without cutting the per person expenditure (ie, individual benefits). And the interest on the debt can't be cut, either.
But whatever. For purposes of this post, I'll go with you and say we can do a complete rollback to the 2008 budget. That cuts about $550B. Only $750B to go.
Get rid of the Dept of Education, Dept of Health and Human Services and the Dept of Energy.
Using the 2008 budget numbers (since we've rolled back to those spending levels), that'd save about $150B - $70B from HHS, $56B from education, and $24B from Energy. Of course, I think most people would prefer to keep the Nat'l Institute of Health, the Center for Disease Control, and the Food and Drug Administration in some form, not to mention our nuclear weapons program (actually Energy's responsibility; they're on loan to the DoD).
But again, for purposes of this post, whatever. Still have $600Billion to go.
Start raising the age to receive Social Security to bring it back in line with life expectancy increases since the program was instituted.
I'm with you so far. Not sure how much it saves, but let's say that for each year the retirement age is pushed back, SS and medicare spending drops by a combined $20B. So we push it back to 70, and save $100B. Only $500B to go.
Do they still pay their SS and medicare taxes? If not, then you lose me, because while future expenditures drop, so do current revenues. Not going to help currently. Still $500B to go.Let young people (under 35) opt out of SS. Let people between 35 and 50 start putting a portion of their SS into a private account.
I'm not going to debate the idiocy of the fair tax here; but say we simplify the current system and are still able to gut the IRS, that saves us, at most $6B, since the entire Dept. of Treasury budget for 2008 was $12B. Still $494B to go.Institute the Fair Tax allowing the IRS to be gutted.
Cut the pay of everyone in congress in half and tie future increases to private sector GDP growth.
So $100 million divided in half is $50 million. Still $493.95B to go.
and there are plenty more ways.
Well, you got about 3/5ths of the way there. Not sure where that last $493B is going to come from.
Now, tell me how you are going to increase taxes $1.3T/yr without wrecking the economy.
I'm not saying we need to raise taxes to cover the whole amount, I'm all for spending cuts too. And presumably, as the debt gets paid off, taxes can be lowered since the $200 billion/yr (and growing) in interest will get smaller over time.
But to say that increased taxes won't be a necessary evil is naive at best and idiotic at worst. There's no way to cut $1.3trillion in spending when the entire discretionary budget is only $900Billion or so.
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