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Returning to 2005 Spending Levels Would Match Current Revenues (Vanity, Comments?)
CBO ^ | Rod M

Posted on 07/30/2011 10:52:22 AM PDT by Rodm

Returning to 2005 Spending Levels Would Match Current Revenues of 2.5 Trillion dollars.
Outlays in 2005 were 2,472.2 Trillion.
This solution would result in no rise the debt limit and we would have a balanced budget. This would also secure our AAA credit rating.
This idea probably has too much common sense for the "Inside the Beltway Crowd."


TOPICS: Government; Politics
KEYWORDS: 2012budget; balanced; budget; ceiling; debt; debtceiling; epic; fail; reid
Comments?
1 posted on 07/30/2011 10:52:27 AM PDT by Rodm
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To: Rodm
Probably so, on "out in the open" spending.

But I believe that various emergency spending bills, totally hundreds of billions of dollars were also passed in some weird way - only Congress knows how - to finance all the Iraq war expenses, plus Afghanistan, and many other types of War on Terror budgeted items.

So we'd actually have to go back quite a bit farther in time, if we put EVERYTHING on the table right now.

2 posted on 07/30/2011 10:56:19 AM PDT by willgolfforfood
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To: Rodm

Hopeless - you’d be lucky to get half of the old people on just this site to give up the amount of Social Security and Medicare money necessary to bring spending down to that level. You can only imagine the general public at large...


3 posted on 07/30/2011 10:57:16 AM PDT by BobL (PLEASE READ: http://www.freerepublic.com/focus/f-news/2657811/posts)
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To: Rodm

For starters, interest on the debt is a much larger amount than in 2005. Also, the proPortion of ss recipients vs Payors has gone from black to red. Those two facts alone make the goal unachievable.


4 posted on 07/30/2011 10:58:17 AM PDT by Dr. Sivana (There is no salvation in politics.)
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To: Dr. Sivana

Ok, A starting place then. At least we wouldn’t be so far in the hole.


5 posted on 07/30/2011 11:04:00 AM PDT by Rodm
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To: Dr. Sivana

Ok, A starting place then. At least we wouldn’t be so far in the hole.


6 posted on 07/30/2011 11:04:12 AM PDT by Rodm
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To: Rodm

Dems would say if I don’t pay my credit card with my other credit card I will run out of money.
We say stop borrowing and pay it off.


7 posted on 07/30/2011 11:04:28 AM PDT by omega4179
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To: Rodm

First, the result would be layoffs from Northern Virginia, D.C., Baltimore up to Wilmington and beyond and severe economic recession for that entire area.

States in financial trouble like California and Illinois and cities such as New York, Chicago, Philly, Boston, and others would also have to institute huge cutbacks and their economies would tank.

That’s all short-term and is the medicine we need, but because so much the political power is concentrated in those areas, your commonsense solution will not happen.


8 posted on 07/30/2011 11:08:30 AM PDT by ngat
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To: Rodm
This issue is not about common sense. It's a fundamental disagreement between the shape, scope and goal of government. What you're suggesting is basically a bread and water diet to RINO statists and a noose to Democrat progressives.

They're more than happy to throw the fortunes of America's grandchildren into the furnace, in order to fuel their reelection chances today.

That philosophy is the enemy. Fix that, and the math will fix itself.

9 posted on 07/30/2011 11:09:11 AM PDT by Steel Wolf ("Few men desire liberty; most men wish only for a just master." - Gaius Sallustius Crispus)
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To: omega4179

I think everyone should look at the Connie Mack plan. It actually calls for spending cuts and arrives at balance over just a few years. Don’t know why it isn’t getting more attention.


10 posted on 07/30/2011 11:09:27 AM PDT by Thom Pain (Raising Tax RATES decreases Tax REVENUES. Spread the word.)
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To: Thom Pain

Yes the Mack plan would be a wonderful start to recovery from spending addiction


11 posted on 07/30/2011 11:14:10 AM PDT by Rodm
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To: Thom Pain

Yes the Mack plan would be a wonderful start to recovery from spending addiction


12 posted on 07/30/2011 11:14:28 AM PDT by Rodm
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To: Rodm

What about Porkulus? Wouldn’t we have to roll back Porkulus to get anywhere near 2005 spending levels?

Bill Clinton said that Obama should invoke the 14th amendment and seize new presidential powers to raise the debt ceiling and keep government spending going. I hope we’re not on the verge of a constitutional crisis due to such actions.


13 posted on 07/30/2011 11:20:33 AM PDT by Dilbert San Diego
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To: Rodm

THIS WOULD MAKE TOO MUCH SENSE FOR WASHINGTON

What now one has mentioned over the last few weeks is that government spending AUTOMATICALLY goes up 8% per year.

Just by FREEZING IT we could balance the budget in 8 years


14 posted on 07/30/2011 11:23:58 AM PDT by Mr. K (CAPSLOCK! -Unleash the fury! [Palin/Bachman 2012- unbeatable ticket])
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To: Rodm
There's a way to cut spending very effectively: the One Percent Spending Reduction Act of 2011 (H.R. 1848/S. 1316), which would cut baseline spending one percent per year starting in 2012 all the way to 2018. This plan is good enough that we could erase the budget deficit by 2018.
15 posted on 07/30/2011 11:26:04 AM PDT by RayChuang88 (FairTax: America's economic cure)
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To: Rodm

I want to study the budget in more detail. For example, how much of the federal budget is on automatic pilot, for things such as Social Security, public assistance, interest on the debt, federal employees payroll, government contracts for purchased services, etc??? And how much is truly discretionary requiring an act of Congress to authorize spending?

And then considering the economic doldrums of the past few years, I’m sure that tax revenue to the government is less than previously forecasted.

The government would be well advised to hire some CPA firms to review the finances of the federal government, without any political agendas, and tell the American people exactly where we stand.


16 posted on 07/30/2011 11:26:23 AM PDT by Dilbert San Diego
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To: Rodm

Does anyone think we didn’t have enough government in 2005?


17 posted on 07/30/2011 11:28:57 AM PDT by pallis
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To: Mr. K

I’ve heard of the idea of a freeze before.

Considering that we’re in a crisis, and Obama thinks that you should not let a crisis go to waste, a good use of this crisis would be to freeze the federal budget, pending a thorough review of where we stand, and what the future holds based on current law.

Yes, it’s telling that an 8% increase in spending is just accepted as a given. That should NOT be a given. But in the ways of Washington, nobody wants to say anything about that fact.


18 posted on 07/30/2011 11:29:03 AM PDT by Dilbert San Diego
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To: Rodm

The house should pass a continuing resolution tommorow that funds the govt at 90% of present level and suspends baseline raises in funding. They should not wait until september 25th when Obama comes in with his hair on fire screaming something has to be done by the evil repubs. Pass it tommorow and issue a statement that if the senate doesn’t like it to get off their dead asses and engage in the budget debate.


19 posted on 07/30/2011 11:36:47 AM PDT by Lurkina.n.Learnin ("Credit is the ruination of a nation")
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To: Rodm

You are correct obviously.

Unfortunately it would also require cuts in SS and Medicare. It would require a 44% cut in defense. When I bring up cutting SS, I get “well I paid into it and want my money back.” When I bring up cutting Medicare I get accused of wanting death panels. Similarly when talking about cutting defense, people talk as if that is equivalent to surrendering to AQ.

Welcome to the obvious budget cutting club. You have at least one FRiend.


20 posted on 07/30/2011 11:40:48 AM PDT by MontaniSemperLiberi (Moutaineers are Always Free)
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To: Dr. Sivana

Much of the reason it has gone into the red is because of the asinine Tax Act of 2010, http://en.wikipedia.org/wiki/Tax_Relief,_Unemployment_Insurance_Reauthorization,_and_Job_Creation_Act_of_2010

A temporary, one-year reduction in the FICA payroll tax. The normal employee rate of 6.2 percent is reduced to 4.2 percent. The rate for self-employed individuals is reduced from 12.4 percent to 10.4 percent.[9] The negative revenue impact of this measure was estimated at $111 billion.[7]


21 posted on 07/30/2011 11:48:05 AM PDT by MontaniSemperLiberi (Moutaineers are Always Free)
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To: Rodm

Back to August 2001 levels would be preferable.


22 posted on 07/30/2011 3:22:44 PM PDT by JimRed (Excising a cancer before it kills us waters the Tree of Liberty! TERM LIMITS, NOW AND FOREVER!)
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To: Steel Wolf
They're more than happy to throw the fortunes of America's grandchildren into the furnace, in order to fuel their reelection chances today.

Reelection should be a non-issue. TERM LIMITS, NOW AND FOREVER!

23 posted on 07/30/2011 3:26:18 PM PDT by JimRed (Excising a cancer before it kills us waters the Tree of Liberty! TERM LIMITS, NOW AND FOREVER!)
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To: Steel Wolf
They're more than happy to throw the fortunes of America's grandchildren into the furnace, in order to fuel their reelection chances today.

Reelection should be a non-issue. TERM LIMITS, NOW AND FOREVER!

24 posted on 07/30/2011 3:26:18 PM PDT by JimRed (Excising a cancer before it kills us waters the Tree of Liberty! TERM LIMITS, NOW AND FOREVER!)
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