Page 2 of 4 FirstFirst 1234 LastLast
Results 11 to 20 of 36

Thread: How to balance the budget in 3 steps

  1. #11
    Sometimes wrong
    ttwtt78640's Avatar
    Join Date
    May 2012
    Location
    Uhland, Texas
    Last Seen
    Yesterday @ 10:38 PM
    Gender
    Lean
    Libertarian
    Posts
    43,541

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by Redress View Post
    So I looked. Let's take them one at a time, and looking only at the cost, using the most generous numbers for your claim.

    1) There are about 2 million federal employees. If we assume they each cost about 250k a year(which is way on the high side, the actual number is probably less than half that, but I cannot find a figure), that results in a 125 billion dollar savings.

    2) Absolute highest number I find of the cost of illegal aliens in the US is 100 billion a year.

    3) Total cost of overseas basis, with the cost of the troops, is 22 billion.

    So we get a total savings, at the most, of about 250 billion. The actual number would be considerably lower, and come with high costs. The US deficit this year is projected to end up at 833 billion. So you are at maybe a third that. See, it helps to actually check your facts, it keeps you from making silly claims.
    Yep, if we cut 100% of non-defense, discretionary spending then there would still be a deficit.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  2. #12
    #TruthTellerTribe

    Hawkeye10's Avatar
    Join Date
    Dec 2015
    Location
    Olympia Wa
    Last Seen
    Today @ 04:38 AM
    Gender
    Lean
    Other
    Posts
    38,057

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by ttwtt78640 View Post
    Yep, if we cut 100% of non-defense, discretionary spending then there would still be a deficit.
    And just wait till the interest rates go up.

    We Be ****ed.
    When society throws away the Truth Tellers prepare for the worst, for it is surely coming.
    Open your eyes and your mind and then speak truth..........That is the only way forwards.

  3. #13
    Sage
    Visbek's Avatar
    Join Date
    Nov 2011
    Last Seen
    Yesterday @ 09:37 PM
    Lean
    Other
    Posts
    12,352

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by Logical1 View Post
    1) Cut Fed employees by 25%

    2) Cut ALL welfare and payments to illegal aliens

    3) Cut all foreign military bases to about 5 world wide.
    Riiiiiiiiiiiiight

    Total spending in FY2018: $4.4 trillion
    Deficit for FY2018: $800 billion

    Social Security = $1 trillion / 22%
    Medicare = $625 billion / 14%
    Medicaid = $412 / 9%
    Defense Department = $886 billion / 20%
    VA / Homeland Security = $180 billion / 4%
    Interest on the debt = $363 billiion / 8%

    Note: The US has about 800 foreign bases.

    All of the above is $3.4 trillion (77%). You've barely made a dent in this figure -- maybe $150 billion for overseas bases? Now, I'm not a big fan of the use of military force, and I'm willing to listen to rational reasons to close some bases. However, even I know that dropping to 5 foreign bases, just to pinch a few pennies, would be total madness.

    As hinted already: Undocumented immigrants are not eligible for any federal welfare, period. That saves $0.

    The federal workforce is actually smaller than it was in the 1960s; it is now down to around 5 million, despite a substantial increase in the size of the population during that time. That includes military, which is a little more than half of the federal workforce. Compensation costs roughly $450 billion; cutting that by 25% would save very little -- at face value $112 billion. If you are only talking about cutting the civilian federal workforce, then that's a $56 billion savings (again, face value only). However, you're going to have a wave of quits and reduced productivity.

    For example, what happens if you cut the IRS by 25%? For one thing, it takes longer to process returns and payments. It also means fewer resources to catch tax cheats. Both result in lower tax revenues, which is counter-productive. Ooops.

    Will we have 25% fewer airport traffic controllers? Do you like the idea of even more delays at the airport? How will FEMA do if you cut staff by 25%? Do you want 25% fewer people taking care of our nuclear arsenal? (Yep, that's Department of Energy, not DoD.) How can you catch people cheating on food stamps, if there are 25% fewer people investigating possible fraud? What happens to medical care for veterans, when you cut VA staffing by 25%?

    So at best, you might have closed the gap by $262 billion (or 33%), in exchange for... weakening our military, destroying our international military presence, pissing off all of our allies, putting a big smile on the faces of China and Russia and every Islamicist militant on the planet, and decimating the effectiveness of the federal workforce -- including ICE, the DEA, the FBI, the CIA, Homeland Security (including FEMA), and much much more.

    Sounds like a bargain, don'tcha think?
    "Everyone should listen to me all the time about everything."
    - Rosa Diaz

  4. #14
    Liberal Fascist For Life!

    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 03:20 AM
    Lean
    Very Liberal
    Posts
    96,134
    Blog Entries
    3

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by ttwtt78640 View Post
    Yep, if we cut 100% of non-defense, discretionary spending then there would still be a deficit.
    There are a large number of problems to eliminating the deficit(not least of which is whether we really should eliminate the deficit entirely). When some one says it is easy, that just means they do not understand the problems. Cutting spending reduces GDP growth, which reduces revenue growth, which increases the deficit. It is a complex problem, and is going to take alot of work to fix. And it cannot be done overnight. With a deficit of 833 billion, if we cut spending by that amount, it would reduce GPD by 4.29 %, or in other words, we go straight to recession. A recession reduces revenue by large amounts, meaning more cuts to balance the budget, meaning a longer, deeper recession, meaning more cuts, and so on.

    We have to reduce the deficit, it needs to be done. But that is going to take hard choices, and long term planning, and concessions from both sides of the isle aisle.
    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
    I’ve always believed that America is an idea, not defined by its people but by its ideals. - Lindsey Graham

  5. #15
    Sage

    Join Date
    Dec 2016
    Last Seen
    Today @ 01:57 AM
    Gender
    Lean
    Independent
    Posts
    5,322

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by MrWonka View Post
    How to balance the budget in one step. Return to Obama era tax brackets.
    I think the top tier will have to be a little higher than the Obama era. Clinton/Gore balanced the budget with an Obama-like 40% top tier. Because we now have to pay so much more in interest on the debt, the top tier will have to be about 50%. Once balanced, it could return to 40%.

  6. #16
    Sometimes wrong
    ttwtt78640's Avatar
    Join Date
    May 2012
    Location
    Uhland, Texas
    Last Seen
    Yesterday @ 10:38 PM
    Gender
    Lean
    Libertarian
    Posts
    43,541

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by Redress View Post
    There are a large number of problems to eliminating the deficit(not least of which is whether we really should eliminate the deficit entirely). When some one says it is easy, that just means they do not understand the problems. Cutting spending reduces GDP growth, which reduces revenue growth, which increases the deficit. It is a complex problem, and is going to take alot of work to fix. And it cannot be done overnight. With a deficit of 833 billion, if we cut spending by that amount, it would reduce GPD by 4.29 %, or in other words, we go straight to recession. A recession reduces revenue by large amounts, meaning more cuts to balance the budget, meaning a longer, deeper recession, meaning more cuts, and so on.

    We have to reduce the deficit, it needs to be done. But that is going to take hard choices, and long term planning, and concessions from both sides of the isle aisle.
    It is extremely unlikely that congress will cut spending and almost as unlikely that congress will raise taxes. So long as doing neither gets them re-elected at rate of over 90% then inaction is the politically easy option.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  7. #17
    Sage

    Join Date
    Dec 2016
    Last Seen
    Today @ 01:57 AM
    Gender
    Lean
    Independent
    Posts
    5,322

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by ttwtt78640 View Post
    It is extremely unlikely that congress will cut spending and almost as unlikely that congress will raise taxes. So long as doing neither gets them re-elected at rate of over 90% then inaction is the politically easy option.
    The last 2 Democratic presidents did exactly what you mention, with Bipartisan Congressional support. Clinton and Obama raised taxes and cut spending. Clinton achieved a Budget Surplus. After inheriting a record $1.4 Trillion deficit, Obama more than halved ththe deficit during his tenure.

    Dems are making the hard decisions. Republicans are just cutting taxes and raising deficits, to get "brownie" points.

  8. #18
    Sometimes wrong
    ttwtt78640's Avatar
    Join Date
    May 2012
    Location
    Uhland, Texas
    Last Seen
    Yesterday @ 10:38 PM
    Gender
    Lean
    Libertarian
    Posts
    43,541

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by Media_Truth View Post
    The last 2 Democratic presidents did exactly what you mention, with Bipartisan Congressional support. Clinton and Obama raised taxes and cut spending. Clinton achieved a Budget Surplus. After inheriting a record $1.4 Trillion deficit, Obama more than halved ththe deficit during his tenure.

    Dems are making the hard decisions. Republicans are just cutting taxes and raising deficits, to get "brownie" points.
    Let's see what a demorat majority in the House comes up with.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  9. #19
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    lincoln park
    Last Seen
    Today @ 03:46 AM
    Gender
    Lean
    Independent
    Posts
    17,073

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by ttwtt78640 View Post
    It is extremely unlikely that congress will cut spending and almost as unlikely that congress will raise taxes. So long as doing neither gets them re-elected at rate of over 90% then inaction is the politically easy option.
    You don't have to cut spending... all that is required to get our fiscal house in order: (nominal) deficit growth < GDP growth.



    The problem arises from the fact that if we don't reduce deficit growth during good economic times, it is impossible during downturns.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  10. #20
    User Joecool44's Avatar
    Join Date
    Aug 2018
    Last Seen
    Yesterday @ 09:16 PM
    Lean
    Undisclosed
    Posts
    127

    Re: How to balance the budget in 3 steps

    Quote Originally Posted by Redress View Post
    So I looked. Let's take them one at a time, and looking only at the cost, using the most generous numbers for your claim.

    1) There are about 2 million federal employees. If we assume they each cost about 250k a year(which is way on the high side, the actual number is probably less than half that, but I cannot find a figure), that results in a 125 billion dollar savings.

    2) Absolute highest number I find of the cost of illegal aliens in the US is 100 billion a year.

    3) Total cost of overseas basis, with the cost of the troops, is 22 billion.

    So we get a total savings, at the most, of about 250 billion. The actual number would be considerably lower, and come with high costs. The US deficit this year is projected to end up at 833 billion. So you are at maybe a third that. See, it helps to actually check your facts, it keeps you from making silly claims.
    I didn't get a chance to look yet, but does anyone know what percentage of the federal budget is compulsory (social security, medicare, etc) versus what percentage is discretionary spending?

Page 2 of 4 FirstFirst 1234 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •