The US is on an "unsustainable" fiscal track, so how do we fix it? (Poll)

[Frankenstein]

We heard that from Trump and Mnuchin in 2018 or so when they passed the 1st tax cuts.
They said the tax cuts would bring 5% GDP growth. They lied their asses off.

Well with all of the roadblocks put up by the deep state is that a surprise. Status quo isn't going to get it, time to shake the bush

 

[IM2]

Trump is the only politician today who ever tried to fix the government's problems. He might not be the perfect guy to do it, but he is the only guy over the last 60 years willing to try. As for your fixation on racism, all I can say is one has to choose to be a victim of racism or a winner. Winners don't fixate on racism, they overcome it.

No, he is not. Not even close. I won't be taking suggestions about racism from somebody white who doesn't face it. Winners confront racism, that's how you overcome it, idiot. Factually, this country has lost 51 trillion dollars since 1990 due to racism.

How Racial Inequity Adds $51 Trillion Drag to the U.S. Economy​

Economists have taken on the task of quantifying the cost of racial inequity on the U.S. economy over the past 30 years, through a report published by the Brookings Institute along with Federal Reserve Bank of San Francisco President Mary Daly. Using white men as the basis of parity, they estimate the U.S. GDP could have gained $51 trillion ($23 trillion from labor alone) since 1990 if racial gaps were closed. In 2019, over the period of just one year, the potential gains from equity total $2.6 trillion. This is just another addition to a growing portfolio of literature that quantifies the tremendous cost of discrimination in this country.

https://www.nasdaq.com/articles/how-racial-inequity-adds-%2451-trillion-drag-to-the-u.s.-economy

https://www.brookings.edu/wp-content/uploads/2021/09/15985-BPEA-BPEA-FA21_WEB_Buckman-et-al.pdf

Racial inequities cost U.S. economy trillions, researchers find​

Racial inequities cost U.S. economy trillions, researchers find

Large gaps in rates of employment, education, and earnings persist across races, says San Francisco Federal Reserve president

news.trust.org

The Economic Cost of Racism – IMF F&D

While addressing systemic racism is a moral imperative, it can also make economies stronger, writes Joseph Losavio of the World Economic Forum.

www.imf.org

The costs of racial and ethnic labor market discrimination and solutions that can contribute to closing employment and wage gaps: Testimony before the U.S. House of Representatives Select Committee on Economic Disparity and Fairness in Growth

Valerie Wilson, Director of the Program on Race, Ethnicity, and the Economy at the Economic Policy Institute, testified at a congressional hearing on January 20, 2022. One of the most defining features of the U.S. labor market is the large and persistent disparity in unemployment that exists...

www.epi.org

 

[leftwinger]

We have to streamline the cost of government (with intelligence and care, not with a fucking chainsaw), we have to fix our health care system, we have to tweak Social Security, and we have to increase personal income taxes on the top end.

It's not either/or, was much as the partisans on both ends want it to be.

It's all of the above. Anything less is bullshit. We either wake up to that or we don't. We're either serious or we're not.

Utah Mormon "mittens butt-buddy" Mac&Cheese wants to put back the $350B waste, duplication. Ineffective stolen or fraud spending DOGE found in 3 months.

Back to $7T with zero accountability as Utah Mac then tries to appear centrist suggesting $5B cut to defense. That'll fix er' he says! what a big phony.

 

[IM2]

Well with all of the roadblocks put up by the deep state is that a surprise. Status quo isn't going to get it, time to shake the bush

There were no roadblocks.

 

[Independent thinker]

DOGE proved that the Federal government has no cost-controls, NONE.
By sending the "social safety net" (or half of it) to the states, they have "skin in the game", they have unemployment offices, they have "development organizations" that can provide input as to job training. They also have community colleges that can provide job training and job guidance.
My main point is, we just cannot keep doing what we are doing now, period, full stop.

Sounds good on paper. And, I'd absolutely love to do it to the blue states. But, as just about always happens to the left, things on paper sound good but don't work out in real life.

 

[Mac1958]

I notice you don't tell us how we're going to DO any of those things, Mac!

Maybe you could think about it a bit. I offer independent ideas all the time. For example, I've discussed all of these before:

Streamline Government
What DOGE could have, and should have done: Create a standardized auditing system with the goal of minimizing waste, fraud and abuse. Audits are done semi-annually by people who know the department and/or expenditures like the back of their hand. Conduct the audit, analyze the results, create a specific plan to address the fat, implement the plan, monitor and look for improvements. For starters.

Fix Health Care System
We have SIX DIFFERENT health care delivery/payment systems (Group, ACA, indigent, Medicare, Medicaid, VA), none of which communicate directly with the others for efficiency. Single payer is a shitty idea, and a monopoly. Instead, we expand the existing Medicare/Medicare Supplement/Medicare Advantage program -- an excellent and popular mix of a government foundation and free market competition and innovation) to everyone. Age-band the premiums so they decrease over time. We'd have to review provider compensation. There's lot of fat that can also be trimmed.

Tweak Social Security
Increase the starting ages by two years and increase the salary cap so that significantly more funds are going into the system. This is essentially means testing, since the cap on benefits would have to remain.

Increase Personal Income Taxes
I would add three new tax brackets on the top end (something like 40%, 45%, 49%), and institute a Minimum Effective Tax Rate (for those who pay) of 10%. I would leave corporate taxes where they are, but add a 5% to 7% Minimum Effective Tax Rate.

You may not agree with some or all of the above ideas, but it can't be said that I don't HAVE any. And they're not based on the agendas of either ridiculous party.

 

[IM2]

That may be the dumbest thing you've ever posted here, IM2 and that's saying something!

If I deny a job to one person and give it to another person how does that result in a loss of taxable income? You have the same number of people working...the same number of people paying taxes. Are you really this dense?

Speaking of dumb, read your post. You are truly ignorant on this matter but your racism has you believing that you can argue with someone who has not only studied the effects of racism, but has lived facing racism and some of its effects.

So look at your second paragraph again and learn the error in your thinking. All kinds of economists are now stating that racism has created a huge loss of money for this country.

 

[IM2]

Sounds good on paper. And, I'd absolutely love to do it to the blue states. But, as just about always happens to the left, things on paper sound good but don't work out in real life.

Only to blue states. Red States are the most poorly managed. I live in one so I know.

 

[MisterBeale]

Second, end racism, which costs this country nearly 1.5 trillion dollars per year.

Sure, government is just that powerful. . . .

It has about as much power to end In-Group/Out-Group dynamics, as it does to control the weather.

 

[Zincwarrior]

I am all for slashing spending wholesale.
But 1.5% GDP for defense puts us even with 1939.
That forces us to shift from spending equipment to spending men.

Only if Mexico invades us with an army. That leaves us with a significant navy and air force. Yes, we would have to back off trying to police the world.

One alterative is to divest SS/Medicare out of the budget, or SS anyway. All revenues and expenditures would be separate.

At that point, most everything is in reality discretionary.

 

[IM2]

Sure, government is just that powerful. . . .

It has about as much power to end In-Group/Out-Group dynamics, as it does to control the weather.

The government enabled racism with policies, the government can disable racism with policies.

 

[IM2]

Only if Mexico invades us with an army. That leaves us with a significant navy and air force. Yes, we would have to back off trying to police the world.

One alterative is to divest SS/Medicare out of the budget, or SS anyway. All revenues and expenditures would be separate.

At that point, most everything is in reality discretionary.

Social security is our money we have put in. It is not a gift from the government. So what can be done is the government send everybody back the money they have paid into social security, then start cutting.

 

[leftwinger]

Maybe you could think about it a bit. I offer independent ideas all the time. For example, I've discussed all of these before:

Streamline Government
What DOGE could have, and should have done: Create a standardized auditing system with the goal of minimizing waste, fraud and abuse. Audits are done semi-annually by people who know the department and/or expenditures like the back of their hand. Conduct the audit, analyze the results, create a specific plan to address the fat, implement the plan, monitor and look for improvements. For starters.

Fix Health Care System
We have SIX DIFFERENT health care delivery/payment systems (Group, ACA, indigent, Medicare, Medicaid, VA), none of which communicate directly with the others for efficiency. Single payer is a shitty idea, and a monopoly. Instead, we expand the existing Medicare/Medicare Supplement/Medicare Advantage program -- an excellent and popular mix of a government foundation and free market competition and innovation) to everyone. Age-band the premiums so they decrease over time. We'd have to review provider compensation. There's lot of fat that can also be trimmed.

Tweak Social Security
Increase the starting ages by two years and increase the salary cap so that significantly more funds are going into the system. This is essentially means testing, since the cap on benefits would have to remain.

Increase Personal Income Taxes
I would add three new tax brackets on the top end (something like 40%, 45%, 49%), and institute a Minimum Effective Tax Rate (for those who pay) of 10%. I would leave corporate taxes where they are, but add a 5% to 7% Minimum Effective Tax Rate.

You may not agree with some or all of the above ideas, but it can't be said that I don't HAVE any. And they're not based on the agendas of either ridiculous party.

1. DOGE did as you suggest only better with action not bureaucracy.

2. Health care destroyed in 12 yrs of your butt-buddies meddling, illegals gumming up system and Obiden judges. Time for adults to fix it.

3. SS is OK with fraud removed, increased economic activity.

4. Tax increases? There it is. LW MAC. Sod off you dumb OX. No more money to the FED Mafia.

 

[M14 Shooter]

Only if Mexico invades us with an army. That leaves us with a significant navy and air force.

The Navy and AF are more expensive than the army.
In 1939 terms, 1.5% GDP gave us a 100,000 man army with 250 'tanks' - and things were much cheaper then.

Yes, we would have to back off trying to police the world.

Policing the world means we control the shipping lanes.
Handing control of the shipping lanes over to Russia/ China / pirates is not in our national interest.

One alterative is to divest SS/Medicare out of the budget, or SS anyway. All revenues and expenditures wold be separate.

It's already that way. The SS surplus gets borrowed into the general fund.
Eliminate borrowing the surplus and you go a long way to helping SS

At that point, most everything is in reality discretionary.

Every penny we spend, we choose to spend, It is -all- discretionary.

 

[Zincwarrior]

Social security is our money we have put in. It is not a gift from the government. So what can be done is the government send everybody back the money they have paid into social security, then start cutting.

As I noted in the later post, an alternative is to bifurcate them again. SS pays out what it gets in, and SS rates are done separately.

 

[leftwinger]

End racism? End killings, robbing, sucker punches, stabbings, subway pushers, unprovoked attacks, tearing up fast food sites, skipping out on dinner bill, flash mobs, rioting, go to work, no more single mothers (7kids, 5 fathers) gaming system, school fighting, gang attacks, buy car insurance, register cars etc.

 

[Zincwarrior]

The Navy and AF are more expensive than the army.
In 1939 terms, 1.5% GDP gave us a 100,000 man army with 250 'tanks' - and things were much cheaper then.

US GDP is $29.7Trillion. That equates to $445Bn, which is roughly half the 2025 defense budget. We'll do fine. Any major power that can overcome us in an invasion would be nuked anyay.

Policing the world means we control the shipping lanes.
Handing control of the shipping lanes over to Russia/ China / pirates is not in our national interest.

Its going to happen one way or another. The empire is over.

It's already that way. The SS surplus gets borrowed into the general fund.
Eliminate borrowing the surplus and you go a long way to helping SS

Separate it completely.

Every penny we spend, we choose to spend, It is -all- discretionary.

Thats why we separate Social Security so the billionaires don't steal it to fund tax breaks.

 

[pknopp]

He did more than that.

Got us into a stupid war. 8 trillion more debt. A long list of broken campaign promises.

 

[Admiral Rockwell Tory]

Only if Mexico invades us with an army. That leaves us with a significant navy and air force. Yes, we would have to back off trying to police the world.

One alterative is to divest SS/Medicare out of the budget, or SS anyway. All revenues and expenditures would be separate.

At that point, most everything is in reality discretionary.

You would have to raise FICA taxes.

 

[Votto]

The US is on an "unsustainable" fiscal track,​

and nobody has suggested we stay on it without doing anything

We can't even get the democrats to concede that millions of dollars should not be going to a transgender Muppet show in Timbuctoo via USAID without the media screaming, "It's genocide!!!!"

Neither party has a viable plan, thus the answer remains outside the federal Congress.

You either need the states to amend the Constitution and demand budget constraints with a Constitutional amendment, or the system collapses

Either way a solution is on the way, like it or not.

I prefer the first way to go about it in order to preserve the Republic and the Constitution, as where the Left prefers the later so they can have their little "revolution" to usher in a dictatorship minus the Constitution.

But alas, the Left ALWAYS seems to get their way in the end, don't they.