Balancing the Federal Budget in 20 Minutes.

From American Public Media: Budget Hero
http://budgethero.publicradio.org/widget/widget.php?refid=MKP

I did it and was able to reduce the national debt by half over a 10 year period. Shrank the percentage of debt to the GDP by over half. Shrank the size of government by 5%. And my budget balanced in 2016 and produced a 790B surplus by 2021.

How?

The big ones were:
Cut discretionary spending 10%
Let the Bush Tax Cuts expire.
Repeal Obamacare
Overhaul Medicare and health care across the board
Froze Defense spending for 5 years
Reform the tax code (adapted the measures supported by the National Commission on Fiscal Responsibility and Reform) and closed the loopholes
Remove all but 45,000 troops in Iraq and Afghanistan by 2015
Made future Social Security benefits contingent on income/wealth

-----------

So, it can be done if we only had leaders willing to make tough decisions.

No votes yet

I'm sure you didn't mean to, but don't forget that those "tax cuts for the rich" you attribute to Bush expired in December of last year and were re-approved by the same Democrat controlled Congress that forced Obama-care on America and signed by Barry Obama into law.

I'm sure you mean't the Obama and Democrat Tax Cuts for the Rich.

See > http://swampbubbles.com/20101212/bush-tax-cuts-rich-passed-democrat-cont...

"1) The 111th Congress, controlled by Democrats, is in session until January 3rd, 2011.
http://en.wikipedia.org/wiki/111th_United_States_Congress

2) The 111th Congress, controlled by Democrats, is the same group of elected officials who had no problem passing the socialist ObamaCare Healthcare takeover.
http://en.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act
http://en.wikipedia.org/wiki/Health_Care_and_Education_Reconciliation_Ac...

3) Today is Dec. 12, 2010. Nancy Pelosi and Harry Reid are still in power of the 111th Congress and the 111th Congress is in session until January 3rd, 2011. The Inauguration of the Republican sweep of the House DOES NOT TAKE EFFECT UNTIL JANUARY 3RD 2011."

Don't blame me,
I didn't vote for a
socialist.

Question for you, AH....the game says it's estimates are based on CBO projections. The CBO says that repealing Romneycare (er Obamacare) would increase the deficit. In the explanation for the option, "repealing Obamacare" they admit that repealing Obamacare would increase the deficit. Yet, when you pick it--it decreases the deficit. Do you know why?

Pink Slip

Don't know. Perhaps the figures have changed since it was enacted.

Political Championship Wrestling- putting politics in proper perspective by presenting it as pro wrestling.

Coming in January, a political satire about the sorry state of American Politics- Jesusland vs. Progressiveville.

Nope. The CBO still says that repealing the healthcare bill will ADD to the deficit. Guess that screws this project up.

Pink Slip

Another lie that Libs lap up the way a dog eats it's own vomit.
Read it and weep, lacky. Direct from the Congressional Budget Office that proves you are just another lying sack-o-shyt Democrat laptog.

The CBO says that by REPEALING Obamacare, America would SAVE $1.04 TRILLION dollars.

"The enacted legislation contained a set of provisions designed to
expand health insurance coverage that was estimated to increase
federal deficits. The costs of those coverage expansions—which
include the cost of the subsidies to be provided through the
exchanges, increased outlays for Medicaid and the Children’s Health
Insurance Program (CHIP), and tax credits for certain small
employers—will be partially offset by revenues from the excise tax
on high-premium insurance plans and net savings from other
coverage-related effects. By repealing those coverage provisions of
PPACA and the Reconciliation Act, over the 2012-2021 period
H.R. 2 would yield gross savings of $1,390 billion and net savings
(after accounting for the offsets just mentioned) of $1,042 billion."

http://www.cbo.gov/ftpdocs/120xx/doc12069/hr2.pdf

Don't blame me,
I didn't vote for a
socialist.

"Read it and weep, lacky"

I did. I actually read the whole thing--you should give that a try. You're only posting a snippet--repealing parts of the healthcare bill would lower the deficit. But if you read the whole thing like a grownup, you'd see that repealing the entire bill would raise the deficit.

Pink Slip

And, as any informed citizen should know, social security doesn't add a dime to the debt. So why is it included?

Pink Slip

Congress SPENT THE MONEY they collected for SS and now those bills are also due.

http://washingtonexaminer.com/opinion/2011/07/debt-crisis-punctures-soci...

"The reality is that the Social Security Trust Fund is, and always has been, an accounting fiction. For almost all of Social Security's history, the amount of money the program received from payroll taxes has exceeded the amount of money it paid out in benefits. The excess revenues, by law, are "invested" in special-issue, nonmarketable Treasury bonds. These bonds are marked on the government's balance sheet as "assets" of the Social Security program, but they are also counted as debts owed by the U.S. government. In fact, $2.6 trillion of our $14.3 trillion debt consists of bonds owed to the Social Security Trust Fund."

Don't blame me,
I didn't vote for a
socialist.

It also doesn't come as part of the debt ceiling equation yet we still have the President threatening to withhold Grandma's SS check if the debt limit isn't increased.

It's also interesting that had the GOP SS reform taken place and citizens had a Private option the government would be contractually obligated to make all SS payments regardless of default in line with the Supreme Court decision of Perry v. U.S.

MikeyA

How about drastic cuts in foreign aid, particularly to countries that don't like us anyway?

"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni

Did that, too.

Political Championship Wrestling- putting politics in proper perspective by presenting it as pro wrestling.

Coming in January, a political satire about the sorry state of American Politics- Jesusland vs. Progressiveville.

The Progressive Caucus released a budget plan that would eliminate the deficit and create a surplus in ten years. But as AH says, "it can be done if we only had leaders willing to make tough decisions".

Pink Slip

http://en.wikipedia.org/wiki/Congressional_Progressive_Caucus

Just call them what they are....Communists.

""The American People will never knowingly adopt socialism. But under the name of 'Liberalism' they will adopt every fragment of the socialist program,"

“Political correctness is a doctrine, fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end.”

All,

My apologies. I'd like to keep weighing in on these issues but the last week has been filled with Command and CG visits and this week will be similar. I will post when I can but if you reply to one of my posts I would just ask for patience in my response. I don't want anyone to feel as if I'm ignoring you. I'm just really really busy right now.

V/R
MikeyA

MikeyA

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.