Problem is when you analyze what that truly entails it brings a whole bunch of other realities into play.
Here is an example of how things would have to be cut in order to get to a balanced budget.
My figures assume a 3.5 trillion current proposed budget with 2.2 trillion in revenues. It's an F2010 doc from
I could have used almost anything, anywhere. They are all roughly the same and the concept of what has to be cut is the same.
Could you use different cuts? Of course. But the outcome is the same--massive budget cuts are necessary to balance the budget without any debt ceiling increases.
Here is a sample budget of what cuts would be necessary for a balanced budget:
You need to get to 1.3 trillion in cuts to balance the budget:
1. Social security--cut 100 billion(you don't have to cut it but the money has to come from some where else)
2. Medicare--cut 200 billion(same story as above)
3.Unemployment Insurance--other, entitlements--350 billion
4. Defense--Cut--300 billion (once again the cuts have to come from some where)
6. discretionary one-time items--50 billion.
That gets you to 1.3 trillion in one year.
It also probably gets zero reelected since the DBM would have enough to cry about,we would be demonized nonstop forever, for at least a year.
You know RG....first, thank you for that bit of wisdom. I know you’re right and believe it not, even the rest of us boobs out here in la-la know you’re right. Hell, even my son-in-law knows you’re right though he does think big corporate jet owners should pay more taxes when all he has is a car that doesn’t go over 43 mph and you must enter by climbing through the passenger window.
We understand that the big ticket expense items are....well, the big ticket expense items. We get this out here where mortgages routinely eat up 60% up our incomes.
SS recipients have already NOT received COLA raises two years in a row and there’s been little rioting in wheelchairs over this. Still and so, it didn’t match the requirements for a raise and so be it.
But we’ve got the EPA, we’ve got everyone in the WH getting some 60% wage increase, we got farmers getting paid for growing nothing, we’ve got pet projects for all the congress critters....THAT’S what the American people want looked at and seriously considered for reduction. I mean Obamer goes on about sacrifice, damn, that includes HE AND HIS BUDDIES!
Maybe we can’t draw pretty pictures of pies but we know there’s gazillions in waste and we don’t want to hear....”well cutting this won’t help.”
This “sacrificing” applies to everyone.
I mean, I’m part of a couple having serious economic issues. We sit and decide what has to be cut and we decide to keep the old clunker a few more years for lack of funds/to better save. Only I decide, hey, I should get that little fur coat cause, hell, it’s not like the cost of the coat will matter much in the larger theme of things.
So I should get my fur coat and husband should smile, right?
It don’t work that way.
I did not see Obamacare, EPA, Federal Employees, DOE, OSHA, Hippa, Erisa, Foreign Aid of all types, Payments to the UN, Three stupid Wars, DHS, TSA, and on and on in your list? I did not see the growth and economic Boom that would result on your list. That to me is the problem. The Grand Bargain is not the solution.
Look at this the other way. All of this is from “legit” news sources.
Servicing the debt is around $20 billion per month. Military pay, Social Security Medicare and Medicaid add up to less than we take in each month, leaving about $20 billion, depending on whose numbers you believe. The cuts come from elsewhere.
What else do we cut? Obama has increased “discretionary” spending by over 80%. Let’s start there. It’s nowhere rear enough, but it’s a short term fix.