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Thread: $9 Trillion Deficit Reduction Plan - Back in Black

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    $9 Trillion Deficit Reduction Plan - Back in Black

    Coburn deficit plan offers $9 trillion in savings

    Sen. Tom Coburn (R-Okla.) on Monday released a plan that he says would achieve $9 trillion in deficit savings over the next decade through a combination of far-reaching spending cuts, entitlement reform and increased tax revenue.

    “This plan offers the American people 9 trillion reasons to stop making excuses and start solving the problems in Washington,” Coburn said at a Monday afternoon news conference announcing the 600-plus-page plan. “I have no doubt that both parties will criticize this plan, and I welcome that debate. But it’s not a legitimate criticism until you have a plan of your own.”

    Coburn deficit plan proposes $9 trillion in savings - The Washington Post

    I just received the plan in my email. I have yet to review very much of it, but this contains a huge amount of details. It is my understanding that this plan will not make everyone happy, but it contains elements that both political have said they want. Look it over and advise your thoughts.

    Here is the link to a section by section of the report:

    Back in Black: A Deficit Reduction Plan - Tom Coburn, M.D., United States Senator from Oklahoma

    Here is a link to the summary of the savings:

    http://coburn.senate.gov/public//ind...0-42fc20111974

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    Dr. Coburn's plan to reduce our nation's long-term deficit saves roughly $3 trillion from entitlements, $3 trillion from discretionary and other accounts, $1 trillion in defense, $1 trillion from ending some spending in the tax code, and about $1 trillion in interest costs. This plan would gradually reduce the size of government by about 25 percent and balance the budget within ten years.

    Conservatives, what concerns you with the above numbers?
    Liberals, what concerns you with the above numbers?

    Education Recommendations: Reduce, Empower, and Innovate
    In order to return more control to the local level, funding for all elementary and secondary programs should be combined into a single funding stream and reduced by 50 percent. The remaining federal assistance should be given to states, which would retain complete authority this funding. The assistance should be divided among states based on a percentage of school-aged children, where state and local education departments can direct funding toward their own priorities and goals. This system will allow states to design individualized education plans to fit their unique education needs
    and goals. In the place of a single, disconnected federal agency, there will be 50 states incubating educational innovations, with an exponentially greater chance of discovering the best practices that can be used as design models by other states.
    These changes would save $25 billion in the first year and $280.2 billion over ten years by consolidating the following programs.

    Click on Education link for details. http://coburn.senate.gov/public//ind...5-285a65c52fbe Thoughts?
    Last edited by LesGovt; 07-21-11 at 12:28 AM.

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    why not have a plan to reduce the debt $1 trillion per year?

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    Quote Originally Posted by Thunder View Post
    why not have a plan to reduce the debt $1 trillion per year?
    I don't know. I guess $900 billion was a round enough number for the Senator.

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    Quote Originally Posted by LesGovt View Post
    I don't know. I guess $900 billion was a round enough number for the Senator.
    i want the debt down to a reasonable number...maybe even gone.

    though, borrowing money isn't bad....to a limit.

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    Quote Originally Posted by Thunder View Post
    i want the debt down to a reasonable number...maybe even gone.

    though, borrowing money isn't bad....to a limit.
    Coburn's plan eliminates the deficit. Beyond the ten years, we can work on the debt.

    More cuts: Energy

    Ten Year Savings (billions)
    EERE 24.59
    Fossil 7.32
    Office of Science 11.00
    Nuclear Energy 8.59
    NNSA/EM 33.53
    EDER 14.95
    Energy Star .63
    Indian Energy .06
    PMA 1.10
    Total $101.77

    DEPARTMENT OF ENERGY TEN YEAR SAVINGS
    Discretionary: $101.77 billion
    Total: $101.77 billion

    http://coburn.senate.gov/public//ind...c-af33d9fcd1b3

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    id rather we cut less spending and close more tax-loopholes for the greedy rich
    Last edited by Thunder; 07-21-11 at 01:13 AM.

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    Quote Originally Posted by Thunder View Post
    id rather we cut less spending and close more tax-loopholes for the greedy rich
    This plan has over $1 trillion in revenue.

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    and he went straight from this to the disastrous Gang of 6 proposal? sad.

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    Re: $9 Trillion Deficit Reduction Plan - Back in Black

    Quote Originally Posted by cpwill View Post
    and he went straight from this to the disastrous Gang of 6 proposal? sad.
    Well, who knows what he is up to. He just sent this out yesterday. He may be attempting to sell it to the gang of six or he may have done this for self-promotion. I cannot read his motives.

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