I didn't really think we had a thread dedicated to this and it is usually talked about in generalities and not specifics so I want to know where exactly you all would start cutting government spending.
Would you cut the Defense Department's budget?
Would you cut Social Security or Medicare?
Would you raise taxes?
Here is a good framework to look at and I believe that there have been simulators posted in the past:
I would lower the rate of inflation on social security and possibly the age. Cut the defense budget by a large margin. With medicare I would leave that as the last thing to cut. I would close some deduction loopholes which is essentially raising the taxes. Either way I think to somewhat reduce the debt it has to be a combination of all 3 to not drastically affect one population of our country unfairly.
I don't think you are able to balance the budget this year. You'll need a stronger economy to get more tax dollars first (not the same as just raising them). Ill get more detailed on how to trim deficit when I'm not on my phone.
Cut the defense budget by 30% over the next 10 years
Change the social security income cap to $250,000 from $106,800 (to keep it solvent in the short term)
Cut all income tax rates while taxing investment/dividend income the same way regular income is taxed
End all farm/oil subsidies
Cut foreign aid in half
Increase veterans benefits and job training programs
Raise social security retirement age to 68
Eliminate tax loopholes that allow companies like GE to pay nothing in taxes while lowering the corporate tax rate to 25%.
End the War on Drugs and greatly shrink the size of the DEA.
Release all non-violent drug offenders from federal prisons
Nationally legalize marijuana and regulate/tax it at a federal level.
all great ideas.
But some of those savings arent as dramatic as are needed.
there needs to be a unilateral aspect to the approach, no one gets out without some pain.
Now heres the thing about that, every time you cut government it hurts the economy.EVERY TIME.
That is something many small government proponents dont seem to put into their calculations, that is why austerity has failed around the globe, although you wont here that in the RT media.
so if we start with focusing on efficiency cutting.There is waste everywhere in government, lets get that straight.
All my Progressive friends know this as well as you conservatives, and we arent any more happy about it then you are. so we insist that ever depart ment on that list make internal 10 % budget cuts.
No one knows where the pork is better then the piggies themselves.
whatever approaches the specific dept. deem effective is on the table as long as it acheives the 400 billion savings. mandatory salary reductions,Government vehicles, expense accounts first class flight,all of it.
But just as every department must pony up, so too must everyone within the dept.
That means not only every employee, but the Secretary of ED. gets a 10% reduction too and every last person within the Buerocrasy down to the mail room worker.
we obviosly need to raise the social safety net ages, but provide for a petitioning for people who are not able to work to get it at the 65 age.
But then means test all programs.
NO ONE WITH 500 MILLION IN THE BANK SHOULD GET A SINGLE PENNY OF TAX MONEY TO FUND THEIR RETIREMENT.
then we need to accept that healthcare must be regulated or socialized.
costs cant be allowed to continue to outpace everything else.
some people want to eliminate the employment based sytem, some want single payer, but controlling medical costs will not be achievd through market forces alone.
any other savings that need to be met after whatever the projections from thos actions would be, should be taken from defense.
If we do those things that ARVPats suggested and some version of the things I laid out, and lastly built a renewable energy grid.
This country would take off like a rocket, of prosperity.
what everyone needs to understand is that six industries stand in the way of all the changes we all want.
The military industrial complex
The Ins. Industry
they conspire against our efforts to move forward, becasue forward DOESNT INCLUDE THEM BEING IN CONTROL.
stop buying into the LT.RT. B.S. we are the cause of our problems,and we are the solution.
First, I cut from defense. When you calculate our complete expenditures on empire...cough cough...I mean "defense", we spend about 930 billion per year. That's the first place I start cutting from. We need a total shift in our foreign policy, b/c now we're at a point where this massive spending is hurting our economy, and yet politicians are putting social programs on the table to cut. I'd cut at least half, which would have us still spending more than all other countries combined. End the wars, close most if not all of our over 900 military bases, and end all but humanitarian aid to other countries. That is a HUGE chunk right there. http://original.antiwar.com/engelhar...nd-on-defense/
Second, end the War on Drugs beaurocracy. Aside from the money allocated to the budget of this failed program, when you consider the cost to process and lock up over 1 million non-violent drug offenders is almost impossible to calculate. Decriminalizing marijuana at the national level is a good first step to save a huge chunk of change.http://reason.com/blog/2012/10/11/fo...ilure-in-a-sin
Third, end corporate handouts and force them to pay SOMETHING in taxes. No more subsidies for mega oil companies, and no more being able to use the system to get yourself billions in refunds, while paying no taxes at the federal level(see GE, one of MANY corporations that get this deal). Corporations have enjoyed their welfare and have never made more money. Time for them to pay a little more to help the country.http://www.businessinsider.com/what-...t-2011-10?op=1
If you do one, or some combination of these three things, we can massively get rid of our balooned deficit and overall debt. There is absolutely no need to hurt the elderly or cut social programs. None.
I think it's important to remember not just say CUT from here, how much. Make the numbers work. If you are going to cut from defense you say I cut it down to X so it's a savings of this.
That's not entirely possible unless you have the OMB resources since cutting $50 billion has consequences like decrease tax revenue and increases in unemployment that are felt by defense companies and the industries that support them. Not saying we shouldn't make cuts from defense but it will be hard to quantify any actual savings.
I agree with almost all of this. Good post. The only things I would do differently would be to end all foreign aid, cut military a bit more, cut some entitlement programs.
I'd immediately eliminate 50% of foreign aid, while eliminating it in the long term.
I'm not sure how easy it would be to cut entitlement programs, especially if tax revenue is still coming in for them. Means testing is a good idea but a lot of people may cry foul if it were put into place.