1.) With the Iraq withdrawl, this should in theory and practice lower DOD costs. I believe we have around $140b for both wars for this year, with a total DOD expense of $600b. Questions should be asked as to why we spend so much for defense. It is no longer a question of simply our own defense when we spend 48% of the world's total in comparison.Obviously something needs to change in the future.
Interesting, still Obama is spending this amount. And we ARE still in afghanistan for the forseable future, and Obama is still touting "18 months" as if 18 months starts tommorrow...
How much off the 1 trillion do you alot for this?
2.) TARP payout should be ending. In fact we are now receiving funds originally paid out. By June $68b has been repaid - CNN
hmm 1 trillion minus $68billion is?
What's a "shovel ready job" and what happens when they finish the task? how much of a trillion do you subtract here?
3.) Unemployment benefits paid out. Since unemployment itself is a fraction of one's previous income, and is limited in length, job recovery should both decrease pay outs as well as increase tax revenue...obviously. The key to after September will be when more of the stimulus is paid out to more and more of the shovel ready jobs. Ideally this would hopefully hold off an increasing unemployment rate, or best case begin to reverse the trend.
4.) All indications both economically and politically are that there will be no more stimulus. Thus the $787b Recovery Act is limited to this fiscal year.
5.) Health care reform- If Congress can create the right health care reform bill that reduces costs, then one of the largest chunks of the budget (Medicare and Medicaid) should decrease.
Ahh here it is.... So let me get this straight, Obama nationalizing health care will SAVE the government money?
Are you serious?
6.) 2011 the Bush tax cuts will expire, which while I am sure everyone focuses solely on the spending, let us not ignore the equation of revenue.
Right, when those tax cuts expire, which is a tantamount tax increase on those making less than 250k, a campaign promise.
How much tax revenue do you really think this will create? I mean choking a starving economy with oppressive taxes always works.
7.) GM bailout greatly affected FY09...but will not in 2010. Question is, should this have been in FY08?
So taking out all of what you posted, what would the deficit be?
My point here is it is impossible to draw comparisons because the circumstances have changed greatly. I know the budget for this year is cannon fodder for many, but it is asinine to think that we would necessarily have seen a difference. It was near unanimous that we needed a stimulus package of significance in order to confront an economic crisis this deep, not seen since the Great Depression.
Enjoy, and bash away.
No it was not unanimous. not by a long shot. And given the stimulous, is an abitious health care plan really prudent?
Let me ask you. Do you think Obama will balance the budget ever?