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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

    mega conclusions implicit in the recommendations of obama's debt commission:

    1. keynesianism is OUT

    2. social security and medicare are FAILED programs in need of massive, multi trillion dollar fixes

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

    Taboon;1059103543]?
    That's exactly why I used the baseline projections on current policy instead of the proposed budget. The baseline is what's going to happen if we keep everything the same. It's not Obama's budget, it's the current budget based on current policy for 2011.

    Umm, duh, yes of course I do. The $2,589 Billion is all receipts, not just income tax receipts.
    Grow the economy and the numbers increase. BEA.gov will give you the breakdown of revenue and expenses as they were spent, so does the U.S. Treasury site. The numbers I gave you came from bea.gov because captures history in a form that even you can understand. Go to bea.gov, go to Gross Domestic Product, click on most frequently requested tables and go to revenue and expense. You will learn a lot there.

    You want to keep justice, the Va, you gotta get more revenue or cut defense, medicare, medicaid or social security. Link please, not saying it's inaccurate, just want to see where this is coming from.
    Not really, VA is about 100 billion a year, Defense should be about 750 billion aa year, Justice should be about 50 billion a year. The total expenses of what the Constitution requires is about 1.8 billion dollars.

    Off topic and I'm not really against this. It's still a tax increase which is the point I am trying to make.

    As stated above and within the link provided, the estimated receipt number ($2,589 Billion) includes all tax receipts, not just income taxe receipts. It's from the White House website, not sure I can do better than that.
    Please name for me one projection or prediction that Obama Wh has made that has beena accurate. I will take the Treasury data any day, that is the bank account of the nation

    1st paragraph I have now answered twice.

    2nd, again, taxes will still need to be increased as a whole. Medicare is not paying for itself with payroll taxes.

    Medicaid - Wikipedia, the free encyclopedia
    We have a law on the books called unfunded mandates. The states get help from the Federal Govt. on mandated programs by the Federal Govt. Many states are going to opt out of Medicaid if the Federal Govt. keeps sending down mandates without the money to fund them long term.


    Medicaid is not solely funded by the states
    Right, but it is funded by your withholding taxes as a line item on your paystub. That money goes to the state not the Federal govt.

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

    Quote Originally Posted by liblady View Post
    how do you not understand that cutting taxes will make up the 600 billion dollar shortfall?
    Where do you get your information? Link please? And please don't give partisan bs, I want non biased data. The data I posted showed tax revenue grew AFTER the Reagan and Bush tax cuts, how do you explain it?

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

    Quote Originally Posted by UtahBill View Post
    Ever try to herd cats? We will always have the poor with us, wasn't it the apostle Paul who said that?
    You can't fix people who don't believe they are broke...
    Right, remember the "War on Poverty?" how much was spent by LBJ on that program and how much has been spent since?

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

    Quote Originally Posted by UtahBill View Post
    At the moment, liberals are all for letting the middle class keep more of their money. That is good enough for me. I don't care one bit if the rich have to pay a little more. Mostly I don't believe that it will hurt any of them, not much anyway. I have written a few big checks to Uncle Sam. It only hurts a little, unless you obsess over it...oh, wait, you are obsessing...
    Sounds to me like a little class envy. It is more about principle than anything, why penalize producers?

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

    Quote Originally Posted by Conservative View Post
    Where do you get your information? Link please? And please don't give partisan bs, I want non biased data. The data I posted showed tax revenue grew AFTER the Reagan and Bush tax cuts, how do you explain it?
    The same way it has been explained every time you use this misleading argument. If I get a pay cut, but work more hours, I may make more money, but I still got a pay cut. If you reduce taxes, but more revenue was raised die to growth in the economy, you still reduced the amount of revenue over what it would have been. You have had this explained dozens of times, and yet still try and use this silly argument.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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

    Quote Originally Posted by Conservative View Post
    Sounds to me like a little class envy. It is more about principle than anything, why penalize producers?
    Or he feels that the wealthier people are hurt less by higher taxes. Dishonest spin is still dishonest.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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

    Quote Originally Posted by Conservative View Post
    Right, remember the "War on Poverty?" how much was spent by LBJ on that program and how much has been spent since?

    How much???


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

    Quote Originally Posted by Conservative View Post
    Sounds to me like a little class envy. It is more about principle than anything, why penalize producers?
    What does the very rich produce other than an unstable ecomomy when they get huge tax breaks. They gamble it on WS.


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

    Quote Originally Posted by pbrauer View Post
    What does the very rich produce other than an unstable ecomomy when they get huge tax breaks. They gamble it on WS.
    Depends on who they are. Some produce quite a bit, some not so much. Going down this road only gives credence to his weak argument.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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