Regaining Control Of The National Deficit

[candycorn]

I like the Remittance Tax on all money sent out of the US to pay for the wall.

Which never happened.

 

[Admiral Rockwell Tory]

The Feds are broke. They need to cut spending drastically or the dollar crashes.

The states need to put the able-bodied to work, or no welfare check.

Liberal states would rather go bankrupt.

 

[22lcidw]

Liberal states would rather go bankrupt.

Correct.

 

[LAUGHatLEFTISTS]

Who elects politicians?

So you think you’ve made a point here?

 

[Luckyone]

I had an idea that just popped into my head. The federal government owes about 37 trillion dollars which, of course means that we spent 37 trillion dollars more money than we had coming in. The federal government doesn't have a balanced budget amendment and the reality of it is we probably never will. And, even we did ever pass one, it would come with loopholes that if an emergency comes up then we can spend whatever is necessary, which I'm OK with in real emergencies.

Anyway, my idea is to transfer every single expenditure and department we can over to the state governments, most of whom DO HAVE balanced budget amendments and are forced by law to follow them. The fact is, states know more of what they need, where they need it, and how much money they need to spend for it better than the federal government does.

My idea is to basically transfer as much as we can from the federal government which does not have a balanced budget amendment to the state governments, most of whom do have balanced budget amendments and have to follow them. So, taxes would go up in the states while federal taxes would go down and the states would determine how much money they would need to spend and where to get the money from.

Sounds great, but is it doable?

You should do a bit more research before you open your mouth

Think The National Debt Is Big Now? Wait Until Trump Tax Cut Extensions Hit​

• Extending President Donald Trump's 2017 tax cuts would push the national debt to more than twice the Gross Domestic Product by 2054, the Congressional Budget Office said in a recent estimate.
• The nation's finances would hit a tipping point into a severe financial crisis if the debt ever got as high as 200% of the GDP, researchers at Wharton estimated in 2023.
• The CBO's estimates assume the tax cuts are extended without a decrease in federal spending to make up for it.
• Republican lawmakers are currently working on a budget for next year that extends the tax cuts and slashes federal spending, including Medicaid.

Despite DOGE, Trump's agenda calls for adding trillions of dollars to U.S. debt​

WASHINGTON — President Donald Trump and his billionaire adviser Elon Musk have sent shock waves through the federal government by attempting to take a hatchet to certain agencies in the name of reducing the federal deficit.

“BALANCED BUDGET!!!” Trump posted this month on Truth Social. Musk added on X, “Balanced budget is going to happen.”

But the reality is less simple. Budget experts say that even if Trump succeeds at slashing the spending that his Musk-led Department of Government Efficiency is targeting — like the U.S. Agency for International Development and diversity, equity and inclusion initiatives governmentwide — his policies would still substantially add to the deficit if they come to fruition.

Trump has called for a series of steep tax cuts — from extending his expiring 2017 tax law to eliminating taxes on tips, overtime pay and Social Security benefits — that would add at least $5 trillion to the 10-year deficit compared to the red ink if no changes are made to current federal law, according to the nonpartisan Committee for a Responsible Federal Budget. That figure could rise to $11 trillion depending on how his so-far-ambiguous proposals are structured.

“It’s rhetoric versus reality,” said Marc Goldwein, senior policy director at CRFB, which calls for reducing red ink. “And it’s always popular to say, ‘I’m reducing the deficit.’ And it’s also popular to distribute a bunch of goodies, and this president is well known for that. So I don’t think their rhetoric matches reality.”

as b

You feel better now that your brain has been washed?

 

[Truth2Know]

I had an idea that just popped into my head.

Your idea is to follow the Constitution, which is a good idea. The following functions are given to the Federal government by the Constitution. ALL other functions are assigned to the states.

1. Defense, war prosecution, peace, foreign relations, foreign commerce, and interstate commerce;
2. The protection of citizens’ constitutional rights (e.g. the right to vote) and ensuring that slavery remains illegal;
3. Establishing federal courts inferior to the Supreme Court of the United States;
4. Copyright protection;
5. Coining (and printing) money;
6. Establishing post offices and post roads, a road designated for the transportation of postal mail;
7. Establishing a national set of universal weights and measures;
8. Taxation needed to raise revenue to perform these essential functions.

By the way, your title should refer to the national debt ($37T), not deficit. The deficit is the yearly budget shortfall, $1.83T in 2024.

 

[Crepitus]

The top two states receiving the most Federal Government subsidies are California and New York.

Lol, no.

 

[Crepitus]

Opinions are like you: assholes.

Go look at places in Appalachia or central Mississippi.

That's what red states will look like by fall.

 

[Crepitus]

Of course not. Once a Borg drone always a Borg drone.

A. I'm fairly sure they didn't do mirrors.

B. Riff, Torg, and Capt. Picard all got out.

 

[Crepitus]

~~~~~~
Strange you just described California, Minnesota, Illinois, Maryland, Michigan New Mexico, and other Blue Sanctuary Plantation States.

Go to Appalachia.

Ain;t nuthin' like that anywhere in CA or any of the other places you listed.

 

[Independent thinker]

Yes but why would the states want to incur the burden of paying down the federal debt? That 37 trillion the Fed owes is enough money equal to the lifetime income of the average person about 12 million times over.

That's just it. The states don't. The national debt is paid by the federal government. But, new expenditures are transferred to the states so we no longer have deficits adding even more money onto the national debt. From now on the national debt either stays where it is or goes down. No adding more to it.

 

[Orangecat]

Go look at places in Appalachia or central Mississippi.

That's what red states will look like by fall.

Sure thing, kid. Run along now, the adults are talking.

 

[kyzr]

Which never happened.

It hasn't happened yet because congress needs to impose a Remittance Tax on money sent out of the US. (to pay for the wall)

 

[Crepitus]

Sure thing, kid. Run along now, the adults are talking.

And he/she attempts to dismiss me because they know I am right.

 

[Orangecat]

And he/she attempts to dismiss me because they know I am right.

Nah, you're just intellectually irrelevant.

 

[Independent thinker]

Sounds great, but is it doable?

You should do a bit more research before you open your mouth

Think The National Debt Is Big Now? Wait Until Trump Tax Cut Extensions Hit​

• Extending President Donald Trump's 2017 tax cuts would push the national debt to more than twice the Gross Domestic Product by 2054, the Congressional Budget Office said in a recent estimate.
• The nation's finances would hit a tipping point into a severe financial crisis if the debt ever got as high as 200% of the GDP, researchers at Wharton estimated in 2023.
• The CBO's estimates assume the tax cuts are extended without a decrease in federal spending to make up for it.
• Republican lawmakers are currently working on a budget for next year that extends the tax cuts and slashes federal spending, including Medicaid.

Despite DOGE, Trump's agenda calls for adding trillions of dollars to U.S. debt​

WASHINGTON — President Donald Trump and his billionaire adviser Elon Musk have sent shock waves through the federal government by attempting to take a hatchet to certain agencies in the name of reducing the federal deficit.

“BALANCED BUDGET!!!” Trump posted this month on Truth Social. Musk added on X, “Balanced budget is going to happen.”

But the reality is less simple. Budget experts say that even if Trump succeeds at slashing the spending that his Musk-led Department of Government Efficiency is targeting — like the U.S. Agency for International Development and diversity, equity and inclusion initiatives governmentwide — his policies would still substantially add to the deficit if they come to fruition.

Trump has called for a series of steep tax cuts — from extending his expiring 2017 tax law to eliminating taxes on tips, overtime pay and Social Security benefits — that would add at least $5 trillion to the 10-year deficit compared to the red ink if no changes are made to current federal law, according to the nonpartisan Committee for a Responsible Federal Budget. That figure could rise to $11 trillion depending on how his so-far-ambiguous proposals are structured.

“It’s rhetoric versus reality,” said Marc Goldwein, senior policy director at CRFB, which calls for reducing red ink. “And it’s always popular to say, ‘I’m reducing the deficit.’ And it’s also popular to distribute a bunch of goodies, and this president is well known for that. So I don’t think their rhetoric matches reality.”

View attachment 1094853as b

You feel better now that your brain has been washed?

In other words, all you've got is predicting the future.

 

[Luckyone]

In other words, all you've got is predicting the future.

You have any present truths that support YOUR views?

 

[Crepitus]

Nah, you're just intellectually irrelevant.

And they are still trying.

 

[candycorn]

It hasn't happened yet because congress needs to impose a Remittance Tax on money sent out of the US. (to pay for the wall)

Still, in no way, does this answer how Texas will replace the $89B it takes from the feds. Keep swinging.

 

[Orangecat]

And they are still trying.

To educate you? It’s a lost cause.