Can you balance the budget ?

[dschere]

This is a challenge for those who are serious about this issue and actually give a damn about their kids.

Here is the current federal budget in billions:

OtherSpending 199.6
Transportation 102.6
Defense 902.2
HealthCare 846.1
Pensions 819.7
Protection 62
Interest 224.8 -> Better pray there isn't a spike in interest rates!
Welfare 451.9
GeneralGovernment 33.6
Education 153.1

TaxReceipts = 2468.6
Deficit/Surplus = -1327


Politics aside what does the MATH say needs to be done? Remember these figures when
the bubble heads on MSM start babbling about deficit reduction be cutting one billion dollars here or one billion there.

The MATH says something more drastic is required.


Here is my budgett:


OtherSpending 199.6
Transportation 200 -> doubled budget for infrastructure
Defense 440 -> halved defense spending
HealthCare 450 -> slash medicare/medicaid
Pensions 450 -> move retirement age up to median life expectancy - 7 years.
Protection 62
Interest 224.8
Welfare 250 --> cut by 200 billion
GeneralGovernment 33.6
Education 153.1 -> kept the same but I want it reorganized.

Result: balanced budget.

You can prance and cry but MATH is MATH. I pay too much in taxes and I don't trust
that the government would just keep on spending beyond its means if they raised taxes.

 

[Mr. H.]

This should have been put in the "Economy" thread, douchere.

 

[Famine]

This is a challenge for those who are serious about this issue and actually give a damn about their kids.

Here is the current federal budget in billions:

OtherSpending 199.6
Transportation 102.6
Defense 902.2
HealthCare 846.1
Pensions 819.7
Protection 62
Interest 224.8 -> Better pray there isn't a spike in interest rates!
Welfare 451.9
GeneralGovernment 33.6
Education 153.1

TaxReceipts = 2468.6
Deficit/Surplus = -1327


Politics aside what does the MATH say needs to be done? Remember these figures when
the bubble heads on MSM start babbling about deficit reduction be cutting one billion dollars here or one billion there.

The MATH says something more drastic is required.


Here is my budgett:


OtherSpending 199.6
Transportation 200 -> doubled budget for infrastructure
Defense 440 -> halved defense spending
HealthCare 450 -> slash medicare/medicaid
Pensions 450 -> move retirement age up to median life expectancy - 7 years.
Protection 62
Interest 224.8
Welfare 250 --> cut by 200 billion
GeneralGovernment 33.6
Education 153.1 -> kept the same but I want it reorganized.

Result: balanced budget.

You can prance and cry but MATH is MATH. I pay too much in taxes and I don't trust
that the government would just keep on spending beyond its means if they raised taxes.

Honestly not to shabby

 

[Greenbeard]

This is a challenge for those who are serious about this issue and actually give a damn about their kids.

HealthCare 450 -> slash medicare/medicaid

So the giving a damn about kids comes later then?

 

[RetiredGySgt]

I assume other spending includes foreign payments.

Other spending 150. Let the gee wiz types figure out where to cut.
Transportation 102.6
Defense 1000
Health Care 0 It is not the responsibility of Federal Government to fund health care
Pensions 819.7
Protection 62
Interest 224.8
Welfare 0 It is not the Federal Governments job or authority to fund welfare.
General Government 33.6
Education 0 Federal Government has no authority to fund education.

That leaves 173.7 Surplus.

Since I do not know the exact figures in your break down for Social Security I assume maintaining it would not work as I have listed. The Government owes tons of money to SS. I would use the surplus to begin paying it back. I would look at raising taxes to meet our requirement on Social Security.

The zeroed parts are all Local or State functions. The States need to pay for those if they want them.

 

[antiquity]

This is a challenge for those who are serious about this issue and actually give a damn about their kids.

Here is the current federal budget in billions:

OtherSpending 199.6
Transportation 102.6
Defense 902.2
HealthCare 846.1
Pensions 819.7
Protection 62
Interest 224.8 -> Better pray there isn't a spike in interest rates!
Welfare 451.9
GeneralGovernment 33.6
Education 153.1

TaxReceipts = 2468.6
Deficit/Surplus = -1327


Politics aside what does the MATH say needs to be done? Remember these figures when
the bubble heads on MSM start babbling about deficit reduction be cutting one billion dollars here or one billion there.

The MATH says something more drastic is required.


Here is my budgett:


OtherSpending 199.6
Transportation 200 -> doubled budget for infrastructure
Defense 440 -> halved defense spending
HealthCare 450 -> slash medicare/medicaid
Pensions 450 -> move retirement age up to median life expectancy - 7 years.
Protection 62
Interest 224.8
Welfare 250 --> cut by 200 billion
GeneralGovernment 33.6
Education 153.1 -> kept the same but I want it reorganized.

Result: balanced budget.

You can prance and cry but MATH is MATH. I pay too much in taxes and I don't trust
that the government would just keep on spending beyond its means if they raised taxes.

I noticed you cut defense spending in half. What would you cut out to achieve that goal?

What part of Medicare and medicaid would you cut? Please don't say fraud.

You pay to much in taxes? Are you in the 46% who don't pay taxes or the in the 50% who pay the lion share?

 

[uscitizen]

I can balance the budget if the following rule is applied. For every year that congress does not balance the budget 20% of congress will be randomly selected and executed.

If i can get that rule I guarantee a balanced budget.

congress just needs a bit of incentive.

 

[dschere]

What would your budget look like?

How would you deal with an annualized deficit of 1.3 trillion COMPOUNDED WITH INTEREST.

Do you see the "Interest" portion? That is set by the bond market. We are carrying a 16T debt and its still 224 billion with near zero interest rates at the short end. You want to see what happens to the budget with a yield spike ... say back to the historic norm at 7%?

Medicaid ... gone
SS ... gone
Defense ... gone

The FED can't control interest rates forever. At some point the bond market will price in the credit quality of the US.

 

[dschere]

I can balance the budget if the following rule is applied. For every year that congress does not balance the budget 20% of congress will be randomly selected and executed.

If i can get that rule I guarantee a balanced budget.

congress just needs a bit of incentive.

If it would work I agree. But in its current state they will cut based on who has the least lobbying clout, not what is in the national interest.

 

[antiquity]

What would your budget look like?

How would you deal with an annualized deficit of 1.3 trillion COMPOUNDED WITH INTEREST.

Do you see the "Interest" portion? That is set by the bond market. We are carrying a 16T debt and its still 224 billion with near zero interest rates at the short end. You want to see what happens to the budget with a yield spike ... say back to the historic norm at 7%?

Medicaid ... gone
SS ... gone
Defense ... gone

The FED can't control interest rates forever. At some point the bond market will price in the credit quality of the US.

Would you mind addressing my question?

 

[dschere]

antiquity,

I noticed you cut defense spending in half. What would you cut out to achieve that goal?

What part of Medicare and medicaid would you cut? Please don't say fraud.

You pay to much in taxes? Are you in the 46% who don't pay taxes or the in the 50% who pay the lion share?

>>> I noticed you cut defense spending in half. What would you cut out to achieve that goal?


We do not need a "bulk' military but rather one of stealth. I would like to see us put our resources into special forces, drones and the marine corps. I was in the NAVY as a combatant for 6 years so I know a little about how expensive to upkeep our bloated fleet. The army, navy would take the largest cuts the and "international" guard would become the "national" guard again.

>>> What part of Medicare and medicaid would you cut? Please don't say fraud.

Vendor payments ( welfare ), 323.9 billion

>>> You pay to much in taxes? Are you in the 46% who don't pay taxes or the in the 50% who pay the lion share?

As a percentage of income I am in the worst position. My income is 95K a year.
After federal ... state ... county ... fees ...., I feel like I should be on food stamps.

 

[eflatminor]

This is a challenge for those who are serious about this issue and actually give a damn about their kids.

Here is the current federal budget in billions:

OtherSpending 199.6
Transportation 102.6
Defense 902.2
HealthCare 846.1
Pensions 819.7
Protection 62
Interest 224.8 -> Better pray there isn't a spike in interest rates!
Welfare 451.9
GeneralGovernment 33.6
Education 153.1

TaxReceipts = 2468.6
Deficit/Surplus = -1327


Politics aside what does the MATH say needs to be done? Remember these figures when
the bubble heads on MSM start babbling about deficit reduction be cutting one billion dollars here or one billion there.

The MATH says something more drastic is required.


Here is my budgett:


OtherSpending 199.6
Transportation 200 -> doubled budget for infrastructure
Defense 440 -> halved defense spending
HealthCare 450 -> slash medicare/medicaid
Pensions 450 -> move retirement age up to median life expectancy - 7 years.
Protection 62
Interest 224.8
Welfare 250 --> cut by 200 billion
GeneralGovernment 33.6
Education 153.1 -> kept the same but I want it reorganized.

Result: balanced budget.

You can prance and cry but MATH is MATH. I pay too much in taxes and I don't trust
that the government would just keep on spending beyond its means if they raised taxes.

We have a budget?

Okay, I'll play along...

OtherSpending 199.6 -> How can I know what to cut or expand here?
Transportation 0 -> Sell the interstate highway system, we had no business building it in the first place. Bridges and other roads are state issues.
Defense 902.2 -> Eventually, I'd cut but for now, re-focus the military on border protection and defense of international waters and air space to ensure free trade.
HealthCare 0 -> State issue, nothing in the enumerated powers about healthcare
Pensions 819.7
Protection 62 -> What the hell is this?
Interest 224.8
Welfare 0 -> State issue
GeneralGovernment 33.6 -> I'll assume this a legitimate expense
Education 0 -> State issue

TaxReceipts = 2468.6
Surplus = 226.7

Only what, about 70 years, and we'd pay off the debt!

 

[PaulS1950]

Those pensions are for government employees - cut it completely and put them on Social Security. Cut all the "other spending", reduce the defense budget to 25% by closing all foreign bases and embasies. There is no way that we can ever pay back the debt we have - and it continues to grow each year. The actual debt is over 13 trillion dollars right now - and they are going to raise the debt ceiling so the government can continue to borrow.
I am actually looking forward to the day when the USA defaults and the government completely collapses because it will provide a chance for the people to take America back from the politicians.
Here is a doomsday prediction:
Between 2020 and 2024 the government of the USA will collapse from the debt they carry and the numbers of people on welfare.
All will not be lost though because we will have a new constitution that puts the people back in control in a republic without elected representatives. We, the citizens, will run the country and the president will be an ambassador with no power of law at all.

 

[Rambunctious]

Yes I can balance the budget, vote Romney

 

[dschere]

Mr H(emroids).

This should have been put in the "Economy" thread, douchere.

Wroooooooonnnnngggggggg !

The subject of budget represents two things:

What are the priorities of government?
How much money should it spend?

That is pure 100% politics.

 

[dschere]

Yes I can balance the budget, vote Romney

Can you show me the link to his 1.3 trillion dollar per year spending cut proposal?

That is the magnitude of the imbalance.

 

[AmyNation]

Cut unnecessary departments( tsa, dept of education) combine duplicate departments( CIA, FBI). Foist the cost of transportation, education and welfare onto states. Simplify the tax code, cut down on the IRS.

Won't happen though, because states prefer big federal goverment so they don't have to pay for things.

 

[dschere]

Those pensions are for government employees - cut it completely and put them on Social Security. Cut all the "other spending", reduce the defense budget to 25% by closing all foreign bases and embasies. There is no way that we can ever pay back the debt we have - and it continues to grow each year. The actual debt is over 13 trillion dollars right now - and they are going to raise the debt ceiling so the government can continue to borrow.
I am actually looking forward to the day when the USA defaults and the government completely collapses because it will provide a chance for the people to take America back from the politicians.
Here is a doomsday prediction:
Between 2020 and 2024 the government of the USA will collapse from the debt they carry and the numbers of people on welfare.
All will not be lost though because we will have a new constitution that puts the people back in control in a republic without elected representatives. We, the citizens, will run the country and the president will be an ambassador with no power of law at all.

You make valid points.

So what would your budget look like?

You see it isn't just one thing. Even if you abolish pensions we still have a deficit. I believe that it would take a combined effort in slashing virtually everything. But the alternative is to ghastly to imagine.

Its that "interest" time bomb. What happens if we get a yield spike?

Ask the Greeks, the Irish, the Spaniards, the Italians ... all tax receipts are engulfed by the bond market.

 

[xsited1]

Can you balance the budget ?

Here 'ya go:

OtherSpending 199.6 --> 100
Transportation 102.6 --> 102.6
Defense 902.2 --> 650
HealthCare 846.1 --> 250 (I'd prefer this be 0, but we should care for the indigent and elderly)
Pensions 819.7 --> 819.7 (revamp system so this number goes down every year)
Protection 62 --> 50 (what the heck is this?)
Interest 224.8 --> 224.8
Welfare 451.9 --> 0 (State level. Causes more harm than good.)
GeneralGovernment 33.6 --> 30
Education 153.1 --> 50 (We spend way too much on education)

TaxReceipts = 2468.6
Deficit/Surplus = 191.5 surplus

 

[dschere]

Cut unnecessary departments( tsa, dept of education) combine duplicate departments( CIA, FBI). Foist the cost of transportation, education and welfare onto states. Simplify the tax code, cut down on the IRS.

Won't happen though, because states prefer big federal goverment so they don't have to pay for things.

Here is the math:

1.3 trillion annualized debt with compound interest.

Total savings by ABOLISHING EVERYTHING ELSE OTHER THAN:

Social security, Medicaid, Defense

the result is a 354 billion per year DEFICIT.

That's the math.

Everything else can go and we're still in the hole.