Balance the Budget

There aren’t many committees out there that are free of bias.  But there is one I highly recommend everyone check out (left and right.)

The Committee for a Responsible Federal Budget.  They are almost perfectly unbiased.  They offer tons of education and tools for us citizens.  One of which, is the budget balance simulator.  Where we get to try our hand at being Trump, and learn just how hard it is to be in charge.  It’s fun, informative, and can really help round out our opinions about things.

I’m going to go through it piece by piece and explain my reasoning.  It’s a bit like a game.

We start out with this:

$4,330 billion to go.
Your goal is to cut $4330 billion from the Federal Budget to bring down the debt to 70% of GDP by 2027

 

That’s a tall order.  Here’s what I did and changes I made to the budget to make it work.

End the Wars in Iraq and Afghanistan $690B saved.  Yes Please!  I think we can all agree that shit-show needs to end.  Bring the soldiers home.  Leave those desert dwellers to hash out their own internal issues.

Slow Development of New Weapons Systems $60B saved.  Mostly applies to the new joint strike fighters.

Reduce the U.S. Navy Fleet from 272 to 230 Ships $110B saved.  Don’t need that many ships if we disengage from foreign entanglements.

Allow Veterans to See Any Doctor Outside of the VA that cost us $560 Billion.  So I spent most of what I  just saved on the veterans.  Sue me.

I reduced foreign aid and international program spending and saved $120 Billion.

I tightened border security and Built a Border Wall at the cost of $150 Billion.

I also reduced the hiring of military personnel and saved $50 billion.

I’m slowly decreasing what we owe!

On Education, Research and Infrastructure…

I spent $70 billion to provide universal pre-k.  Again, kids deserve what we can give them.

Although, I saved $280 billion by devolving k-12 education to the states.  I think a lot of states have varying ideas of what to teach, and this would allow for that, as well as cross-state competition for good schools, just like private universities have.  It might inspire good educational practices.

I also saved $160 Billion by replacing current student loan subsidies with income-based repayment and loan forgiveness.

I did not offer free community college, or increase infrastructure spending.  But I did increase teh gas tax by 10 cents.  I did this for two reasons:  First was to replenish the Highway Trust Fund, which will be insolvent in 4 years.  It was also to provide a market incentive for electric cars.  Saving $180 Billion.

I opted to progressively slow benefit growth in social security, with an effort to protect low and middle income earners.  Saving $50 Billion.  I also changed the inflation measure to the chained CPI saving $420 Billion.

I raised the payroll tax cap on social security to cover 90% of earnings, like it used to be.  Saving $340 Billion.

I also raised payroll taxes by 1%, saving $440 Billion.  I used Means-test benefits for high earning seniors, saving $90 Billion.

I also reduced disability insurance program costs to prevent insolvency in 2023.  Sorry, but its either suffer a little now, or suffer a hell of a lot later.  Saved $100 Billion.

I increased benefits overall for vulnerable beneficiaries during the transition, costing us $130 Billion.

I REPEALED OBAMACARE COVERAGE PROVISIONS.  Saved a whopping $1.61 Trillion.

Because you know what?  I was doing a lot better before then.

I modernized medicare cost-sharing, increased medicare premiums for high-income beneficiaries, reduced prescription drug costs, enacted medical malpractice reform, reformed medicare provider payments, and allowed private plans to compete with medicare, all saving $910 Billion.

I assigned a block grant medicaid to the states to distribute as they see fit, saving $850 billion dollars.

I eliminated the Community Development and Community Service block grants and saved $40 Billion.  Why?  Because those funds get filtered through so many hands, that they barely reach the people.  Some in my community have 5 year waiting lists.

I eliminated 19 independent agencies, reduced environmental spending (because wolves don’t use cash,) required states to cover one-quarter of the cost of food stamps (sorry california,) reduced the cost of the federal workforce, and reduced farm subsidies.  Saved $640 Billion.

Taxes?  I didn’t touch capital gains taxes.  I did reduce all rates by 2 percentage points.  You’re welcome, loyal peasants.  That cost $1.680 trillion.  But hey…I’m a kind king.

I also increased the earned income tax credit for childless workers, costing us $80 Billion.  But I’m a nice guy.

I also increased family tax breaks, costing us $40 Billion.

So corporations won’t see an increase in taxes, and all of us will see a decrease in taxes.

I’m moving to a destination based cash flow tax, to encourage USA production.  Saved $20 Billion.

I’m also not allowing deductions for meals and entertainment for businesses.  The tax payers will not subsidies your treats any longer.  Saved $160 Billion.  Do you get that?  We give companies a tax break for snacks.  And movies.  $160 Billion.

I also repealed the estate tax, which costs us $300 Billion, but the people deserve to keep their estates in the family, not in the government.

I’m increasing cigarette and alcohol taxes, saving $170 Billion.  I’d also impose one on high-fructose corn syrup, but that isn’t an option.

 

End result, I cut the federal budget to under 70% by 2027, and 28% by 2050.  Saving a total of $4.48 trillion.  All while reducing your taxes 1%, and giving out family tax breaks, and a few other perks.  All the cuts to medicaid and social security are gradual, with an extra emphasis on the vulnerable to make sure their benefits take the least hit.

Corporations won’t see an increase either, and will have an incentive to do business here.

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