So wouldn't it make more sense to CUT $400 billion a year in

Discussion in 'Politics' started by healthmyths, Nov 29, 2012.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    GAO Finds More Than $400 Billion Spent Each Year On 1,500 Duplicative, Fragmented, Inefficient Programs

    The Government Accountability Office (GAO) issued its annual report on government duplication today.
    This is the second year of a three-year process, during which the GAO will comprehensively review the federal government to identify duplication, fragmentation, and waste.
    Since the review’s inception, GAO has found 66 areas of duplication encompassing over 1,500 individual programs.
    This year, GAO identified 32 new areas of duplication and 19 additional areas of waste and inefficiency.
    The report cites duplication in almost a thousand individual programs, costing taxpayers over $300 billion per year.
    This is on top of more than $100 billion identified in last year’s report.

    Examples include:
    • - $3 billion spent on over 200 STEM (Science, Technology, Engineering, and Math) education programs. GAO stated that since 2005, when it first looked at this issue, “the majority of [STEM] programs have not conducted comprehensive evaluations of how well their programs are working.”
    • - 37 uncoordinated EPA laboratories and 94 “green building” programs for which costs cannot be determined because “information agencies provided was incomplete and unreliable.”
    • - $736 million spent on 14 different diesel emissions programs and federal funding for 55 surface freight transportation programs.
    • - 160 various housing assistance programs at a cost of $170 billion annually.

    -- 82 duplicative teacher quality programs. One year later, none of the identified programs have been consolidated or eliminated.
    -- 18 duplicative domestic food and nutrition programs where “no executive action [has been] taken,” at total cost of $62.5 billion.

    http://budget.senate.gov/republican/public/index.cfm/files/serve?File_id=5b942c34-d1e5-49de-be92-a85dad8aa191&SK=42ED5BBA6767481D74B2057AC359ACD4

    So folks honestly... can't we all agree it would be BETTER to eliminate $400 billion a YEAR from the BUDGET they remove $80 billion from the GDP???
     
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  2. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Much of that money was spent by the Government accountability office.
     
  3. OKTexas
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    OKTexas New Life Member of the NRA 12/15 Supporting Member

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    Could be a start, where we get the other trillion? Even with the Maobama tax increase we still need .82 trillion to balance.
     
  4. Lakhota
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    Lakhota Diamond Member

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    Cut defense in HALF.
     
  5. healthmyths
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    healthmyths Gold Member Supporting Member

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    GLAD YOU ASKED!!!

    TAX revenue constitutes 17% of GDP...
    This won't happen because Obama truly wants to bankrupt the country though!!
    GDP last quarter 2.7% growth.
    Instead of destroying businesses and the taxes they pay, geez something novel.. WHY not encourage offshoring money to come back to the USA with a tax amnesty of 5% ?

    With $1.5 trillion offshore say $500 billion comes back.

    That tax of 5% equals $25 billion.

    Take the $25 billion and form Venture Capital Insurance Corp.. VCIC modeled after the FDIC.

    Then when AAA companies want to do a public offering say Apple wants to raise $500 million.
    VCIC will insure that any small investor (net worth means tested) can only buy $20,000 of Apple stock and must hold on to it.
    Apple pays an insurance premium consisting of cash and small % equity to VCIC.

    Everyone is happy. Small investor has a chance. APPLE knows it gets good deal with VCIC.
    Then as the AAA companies continue to participate lesser quality higher risk ventures can participate and do their smaller offerings and now we have a genuine GDP explosion! And the small investor KNOWS the principal is insured as long as the original buyer retains it!

    Trillions of dollars would be made all from the $25 billion in reserves that has grown substantially due to premium revenue and equities!

    That's what could eliminate the national debt! Make millionaires out of lower/middle class AND GROW THE PIE!
     
  6. P@triot
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    P@triot Gold Member

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    The sad truth is, we could easily cut $1 trillion per year if we eliminated waste, fraud, and unconstitutional spending. But the dumbocrats will never allow it because they are too busy getting rich off of it all.

    In addition to the $400 billion outlined above, here is an additional $150 billion:

    Sequestration: 150 Billion in Spending Cuts to Offset Defense Sequester
     
  7. healthmyths
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    healthmyths Gold Member Supporting Member

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    What you think about my VCIC entity?

    Using exactly same procedures as FDIC, i.e. surprise audits, premium payments by venture, small investor totally protected and big boys excluded so lower/middle class have equity.
     
  8. OKTexas
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    OKTexas New Life Member of the NRA 12/15 Supporting Member

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    You sound like Bush, you want to destroy the capitalist system to save it. Get freaking real, no CEO in his right mind would buy into that crap.
     
  9. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Heck, we could probably cut twice that.
     
  10. P@triot
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    P@triot Gold Member

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    My personal take is that the entire stock market is a joke and the second biggest problem America has (behind the dumbocrats pushing incompetent communist policy of course).

    First of all, the entire concept was originally for people to become partial owners in a corporation. With a small amount of money, they could buy in, attend shareholder meetings, vote, grow the business, and slowly grow their wealth as well. But somewhere along the way, the stock itself became much more valuable than being a part owner in the business. This caused share holders to put absurd pressure on the corporations to become more "valuable" to drive up the stock. I remember GM in the early 90's moving their break division to Mexico (costing American jobs obviously) after a net profit of something like $4 billion. Think about that for a moment - making $4 billion in profits was not enough for shareholders because it wasn't driving up the price of the stock enough. If that corporation wasn't publicly held, they would be swimming in more money than they knew what to do with and would most definitely had kept jobs in America - along with some huge salary increases I'm sure.

    Second, because of what I just outlined above, the stock market has become nothing more than legalized gambling. On one side, you have someone betting that a stock is going to go down, to they are looking to sell it. On the other side, you have someone betting that a stock is going to go up, so they are looking to buy it. In between, you have a bookie called a "broker" who makes juice on the transaction no matter what the outcome is. And, as is the case with gambling, it brings in a criminal element looking to get their hands on the money (which is why gambling is outlawed in most places). Then, greedy moron's who hand over their money to people they don't know, cry like little bitches when someone like Bernie Maedoff takes them for everything they have.
     

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