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Thread: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Conservative View Post
    Hate to break it to you but society is made up of individuals and individuals with more spendable income need less of that so called liberal help. Why are liberals so afraid of people keeping more of what they earn? You actually believe that liberal bureaucrats really care about the poor and underprivledged? If they truly cared they would solve the problem but don't.Why?
    On that same line of thinking, why do conservatives think that we need to spend six times more on defense than any other country on this planet and not pay for it? Neither party is fiscally conservative in my opinion and from the backlash regarding this proposal from both sides makes it clear that neither side wants to give an inch.

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Taboon View Post
    On that same line of thinking, why do conservatives think that we need to spend six times more on defense than any other country on this planet and not pay for it? Neither party is fiscally conservative in my opinion and from the backlash regarding this proposal from both sides makes it clear that neither side wants to give an inch.
    Probably because that is the role of the govt. to protect us, not provide for welfare. Defense costs with the supplementals 750 billion a year out of a 3.8 trillion dollar budget, 1/5 of the budget so IMO defense is paid for over and over again. Read the Constitution.

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by The Prof View Post
    then it doesn't appear to be a very successful program, after all

    why can't social security keep its promises, why must it be fixed (again)?

    and to the tune of trillions?
    Define successful. I'm sure there are some efficiency issues related to Medicare. Anything that large would. But, I can't fathom a way to reduce the costs by 2/3rds to match the receipts we bring in to pay for it while maintaining the services it provides. It may be too expensive but it's pretty obvious we aren't obtaining enough related to tax revenues to pay for the program as it is right now. There's really only two options: 1. increase tax revenues to keep Medicare solvent 2. Cut services to granny
    Neither is popular, so I'm sure we will do what we always do, punt and continue to lose the game.

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Taboon View Post
    Well, part of the problem with Medicare is that the costs are about three times more than we are bringing in from tax witholding. That math will never work. So, the tens of thousand paid into these programs isn't nearly enough.
    Think it might help if the govt. didn't put SS and Medicare on budget and spend it for other items than SS and Medicare? Do you know what on budget means?

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Conservative View Post
    Probably because that is the role of the govt. to protect us, not provide for welfare. Defense costs with the supplementals 750 billion a year out of a 3.8 trillion dollar budget, 1/5 of the budget so IMO defense is paid for over and over again. Read the Constitution.
    Where in the contstitution does it say Defense gets a blank check?

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Taboon View Post
    Where in the contstitution does it say Defense gets a blank check?
    Where it defines the role of Congress. Why don't you address what I posted? you think that 1/5 of the budget is too much for the defense of this country? What do you think the role of the Federal Govt. is?

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Taboon View Post
    Define successful.
    1. a program that keeps its promises

    2. a program not in need of a multi trillion dollar fix

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by The Prof View Post
    1. a program that keeps its promises

    2. a program not in need of a multi trillion dollar fix
    The only reason that SS and Medicare need a multi trillion dollar fix is that Congress has borrowed trillions of what was supposed to be a trust fund and spent it on other programs replacing it with IOU's that have to be funded. That is where any fix for SS will go. The biggest mistake ever made was putting SS and Medicare on budget and then spending the money.

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Conservative View Post
    Where it defines the role of Congress. Why don't you address what I posted? you think that 1/5 of the budget is too much for the defense of this country? What do you think the role of the Federal Govt. is?
    http://www.whitehouse.gov/sites/defa...ets/tables.pdf

    From Page 5 of the PDF (Labeled 149) Baseline Projects of Current Policy by Category

    2011 Budget Baseline Projection (which means if all things stayed the same, no policy changes):
    Security (i.e. Defense, Intelligence, etc) - $846 Billion
    Social Security - $730 Billion
    Medicare - $492 Billion
    Medicaid - $271 Billion
    Net Interest (on debt) - $250 Billion

    Total Cost of "Sacred" Programs - $2,589 Billion

    Expected Revenues (i.e. tax receipts) for 2011 - $2,583 Billion

    So, the total cost of the "sacred" programs is a bit more than what we expect to bring in for receipts for 2011.

    This doesn't include any non-defense discretionary spending whatsoever. What does that mean?

    No NASA
    No Departments of Anything (including Justice, Labor, Education, Commerce, Interior, Veterans Affairs, Transportation, Treasury,EPA, Small Business Administration, Health and Human Services)
    No Disaster Relief (Sorry New Orleans, better not get any hurricanes going your way)
    NO ANYTHING ELSE EXCEPT THE "SACRED" PROGRAMS CAN EXIST IF WE WANT TO BALANCE THE BUDGET FOR 2011.

    Ok with that?

    So, you want to reduce taxes even further? Well, you have to start cutting into those sacred programs then because we are already $6 Billion dollars short based on expected tax receipts for next year.

    You want to increase defense even more. Well, you're going to have to increase taxes or cut even more into Medicare, Social Securtiy or Medicaid.

    That's where we're at. Any questions?

    Oh yeah, to answer you question. I absolutely think that spending 25% of our budget on defense is way too much. It's actually over 30% of expected tax receipts, that's even worse.

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Conservative View Post
    The only reason that SS and Medicare need a multi trillion dollar fix is that Congress has borrowed trillions of what was supposed to be a trust fund and spent it on other programs replacing it with IOU's that have to be funded. That is where any fix for SS will go. The biggest mistake ever made was putting SS and Medicare on budget and then spending the money.
    That's only part of the story. From the budget link I provided earlier. 2011 expected cost of Medicare and Medicaid is $763 Billion. Guess what we are going to bring in for payroll taxes to pay for those costs? $192 Billion Woops, that seems a bit light considering the costs doesn't it?

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