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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It makes a lot more sense to target Medicare, Medicaid, social security, and military spending than random one-off programs.  That’s where at least 75% of the spending goes to. Just reduce each by 20% and we can get closer to a balanced budget. [/quote]

In today's Washington Post, Matt Bai summarized David Stockman's -- yes, Reagan's budget director -- plan for getting rid of the deficit.

Stockman begins with a dramatic dismantling. He proposes [u]eliminating 16 federal agencies[/u], including the FBI, the Drug Enforcement Administration and the Bureau of Alcohol, Tobacco, Firearms and Explosives. (Yes, eliminating, as in not existing anymore.) He would cut [u]50 percent of the funding for nine other agencies[/u], including the FAA and NASA, and about [u]a third of the budget from all the others[/u]. He also proposes eliminating farm subsidies and virtually all pro-business tax breaks. Leave aside for the moment that all of this would require congressional action. Stockman’s impressively detailed analysis shows that if you could wave a magic wand and do all the things he lays out, [b]eliminating 535,000 federal jobs and shuttering dozens of buildings in the process, you would save approximately … wait for it … $400 billion. That’s 20 percent of Musk’s stated goal[/b] , and less than half of what he considers an acceptable fallback.

No worries, though, because Stockman then moves on to a radical rethinking of American foreign policy, in line with Trump’s “America First” mantra. Stockman would surrender what he calls the American empire, [u]bringing home all the troops from Europe and Asia[/u], in favor of a “Fortress America” approach that focuses on protecting the homeland. [b]After junking all the aircraft carriers and overseas bases, Stockman projects an additional $500 billion in savings. That’s still not even halfway to Musk’s goal.[/b]

The rest, of course, has to come from social programs — [u]mainly Social Security and Medicare, which are the biggest drivers of long-term spending[/u], and which Trump has already vowed he won’t touch. Stockman would means-test these programs, which is something any serious plan to reduce long-term debt would have to do. To get to the $2 trillion target, Stockman takes means testing to an extreme: [b]Social Security cuts would start for individuals at incomes above $75,000, with benefits phasing out entirely once you earn six figures.[/b][/quote]

Medicare is the real problem.  Much more so than SS.

I think they should do an anlaysis of what the budget was in 2018 and what it is today.  Do a delta and see what changed.

One thing is for sure.  We're borrowing or creating out of thin air $0.55 of every dollar spent.  That's what the inflation is all about.  And that hasn't even really caught up to the wild spending, yet.

Bad times are coming. The math says so.[/quote]

How about instead billionaires and their corporations pay taxes? In case you were wondering why Elon is so obsessed with cutting YOUR benefits.

[quote]Tesla reported $2.3 billion of U.S. income in 2024 but paid zero federal income tax. Over three years, Tesla reported $10.8 billion in U.S. income while paying only $48 million in federal taxes, an effective tax rate of 0.4%.[/quote]

https://www.kiplinger.com/taxes/elon-musk-treasury-access-tax-refund#:~:text=Tesla%20reported%20%242.3%20billion%20of,effective%20tax%20rate%20of%200.4%25.[/quote]

How about you didn't push to subsidize your pet EV projects for the last three decades to entice people to buy them?   If they really wanted them, they would have purchased them without artificial gubmint subsidies.

Thanks for now understanding TANFL, but it's a little late.[/quote]
Do you live in a vacuum.   How about all those subsidies oil and gas companies get.   If you want to drive your ice vehicle pay for it.  [/quote]

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