Skip to comments.This Is What Gets Defunded If The Treasury Has To Prioritize Payments
Posted on 07/25/2011 8:11:00 AM PDT by SeekAndFind
It's been assumed -- but never confirmed -- that if we hit the debt ceiling, that The Treasury could prioritize payments, continuing to make bond coupon payments and entitlements, while shutting off other spending.
The Bipartisan Policy Center has put together a presentation (.pdf) on the debt ceiling, and what prioritization would look like (via Stone Street Advisors).
These two charts show it all.
(Excerpt) Read more at businessinsider.com ...
The active duty military is going to get paid no matter what.
The longer one waits, the more cuts that will be needed to be done.
Looked at the charts, I say pay the vets and drop unemployment bennies.
Shut it down!
The active duty pay is all that would be a concern.
How about everybody on unemployment has two weeks to find a job. No more benefits after that. I think we will all be surprised how many of these people are working the system.
Figures that that would be the greatest expenditure.
I think this shows just how out of control spending has got. We can’t afford this. It was bound to fall in on it’s self once the economy started to stall.
Paul is looking for his payment and peter just filed chapter 7.
The list of things to be cut is very instructive as to where we should focus on cutting and eliminating. After the initial military pay and veterans services, the rest is where we should be trimming or cut out completely.
Instant rioting! Then again, the regime could then claim that unemployment is at 0%!
Unemployment insurance should be off the priority list.
Military pay MUST be put on the list. It is a Constitutional issue.
Why not cut 0bamao-care?
Why not eliminate the Department of mis-Education? A larger nest of malfeasance has never existed. Hundreds of billions in funding since its founding in 1977 by discredited Malaise President Carter, and the quality of American Education has been plummeting exponentially since.
How about the EPA? Their fixation on the discredited Global Warming hoax and their desire to tax us into penury while regulating us into the first century should be enough to signal their loss of any semblance of usefulness.
Hey, how about defunding the president’s parties and vacation junkets costing hundreds of millions?
They’d simply have to get over it. It was supposed to be a 26 week program and it’s turned into welfare. Time to dial it back.
The IRS confiscates money from the guy making $800 a week all year long knowing he isn't going to owe on April 15, but they don't want to give it back.
I think a major effort to repeal employer withholding would open a lot of eyes in this country.
"The people are responsible for the character of their government. If that body be ignorant, reckless, and corrupt, it is because the people tolerate ignorance, recklessness, and corruption. If it be intelligent, brave, and pure, it is because the people demand these high qualities to represent them..." - James Garfield
I might begin with stopping all unemployment benefits after 90 days (generous); next eliminate EPA & Dept.of Agriculture and Dept. Edukshun; on to fed. grants; highways and down the list checking for duplicating programs and each and every program that was out of date. Any and all food stamp recipients notified that food stamp program ends next month - period!
9 million don’t have a job?
many millions more have taken pay cuts?
how Soc. Sec. and Medicare,
all take across the board 10% cut?
10% is too much sharing the pain?
(Medicare used to have a lot higher copay.
that was removed.)
and 99 weeks for unemployment is too much.
cut it in half, that would save another
6.1 billion !
for a total of 16.01 billion.
and i would dearly love to see, the TOTAL cost,
of ALL money that illegals cost, directly and indirectly.
i read that it costs California alone over 21 billion a year.
nationally, it has to be over 100 billion right there.