Federal Budget Explained in Plain English
Posted in the Hatch Forum
#1 Mar 16, 2013
The government currently spends around 74% of its revenue on three things: defense, social security, and Medicare, 8% is devoted to interest payments, and 18% is devoted to all other programs. That includes everything from scientific and medical research to education to environmental protection to building roads, bridges, and subways. While defense spending should be reduced with the end of the war in Iraq (and potentially the end of the war in Afghanistan in the next few years), social security and health care spending could skyrocket as many baby boomers retire, making them eligible to receive social security benefits and receive health coverage through Medicare. This means that any realistic attempt to balance the budget:
A. Dramatically cut defense spending, Medicare Spending, or reduce Social Security Benefits.
B. Increase taxes to raise revenue to pay for the increased costs of these entitlements
There is no other way to balance the budget. Anyone who tells you that it is possible to solve the budget gap through "eliminating pork projects" is speaking nonsense: earmarks account for less than 1% of the current federal deficit. A serious attempt to reduce the deficit will have to either increase taxes or dramatically reduce health care costs.
So how do we get to this point? See for yourself! The New York Times has put together a great tool that allows anyone to "fix the budget" themselves through a simple online tool. This allows you to cut programs, increase taxes, or close tax loopholes in order to see the programs that really impact the budget deficit. This shows you the real impact of various proposed tax increases and spending cuts on the projected budget deficits in 2015 and 2030. I was surprised to see that many of the programs which receive the most talk on the political news shows (such as congressional earmarks) have a negligible impact on the budget, where as small changes such as raising the age one can receive social security benefits can add up to hundreds of billions of dollars over the course of 20 years.
#3 Mar 16, 2013
#4 Mar 18, 2013
They are too busy buying votes with someone else's money.
Their retirement and medical is secure. Notice representatives, senators, the president and government workers from executives on down do not participate in ACA. Amazing how this "great" law exempts those that tell us it is great.
Everyone else is scr*wed.
#5 Mar 18, 2013
I agree 100 percent, so let's fire them all. Everyone of them from the top all the way to the state level. These jackwads like to convolute simple stories so that the masses simply spend their time fighting. Meanwhile, these idiots are filling their pockets to the brim.
So, we can all spend a bunch of time and energy cclaiming to be repulicans and democrats or we can say screw both of these parties. We are not republicans, democrats or teabaggers, we are the people. As the people, we choose our representatives. No taxation without representation. Remember that? The teabaggers turned out to be a bunch of rich people. Where's the pary of the people?
I'm not a believer in big govt. I believe that we all make our own way with a little support here and there. Look at the numbers. It's very simple. What is essential? Defense? Yes. Social Security? Yes to a degree. Medicare? Yes to a point with limits.
You don't split a pie into 4 pieces, defense, ss, medical, other and expect to divvy out only that 4th part.
People need to get excited over this crap. "The People's Party"
#6 Mar 18, 2013
Our party is strong and thriving. Doing good things and keeping money in people's pockets.
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