Jaedence posted:
I would cut defense spending in half (so we only spend three times as much as our nearest competitor.)
Close bases in most parts of the world.
Quit giving subsidies to oil companies.
Raise taxes on the rich.
And as a preemptive strike to the RWN who will come in here and say "I would cut food stamps, welfare, medicaid and all social aid programs" - give it up. Cutting those programs to zero would impact the budget about as much as a fly hitting my car impacts the windshield.
You might want to /google a few things before you post. Do you really think that Medicaid/Medicare/welfare programs/etc don't have an impact on our budget? As far as things not having an impact, tax breaks to oil companies(which I agree need to be done away with) and raising taxes on just the rich won't do much of anything.
http://www.cbpp.org/cms/index.cfm?fa=view&id=1258
. posted:
In fiscal year 2010, the federal government spent $3.5 trillion, amounting to 24 percent of the nation’s Gross Domestic Product (GDP). While the level of 2010 expenditures — as a share of GDP — exceeds those of recent years, the composition of the budget largely resembles the patterns of recent years. Of that $3.5 trillion, almost $2.2 trillion was financed by federal tax revenues. The remaining $1.3 trillion was financed by borrowing; this deficit will ultimately be paid for by future taxpayers.
. posted:
Defense and security: In 2010, some 20 percent of the budget, or $705 billion, paid for defense and security-related international activities. The bulk of the spending in this category reflects the underlying costs of the Department of Defense and other security-related activities. The total also includes the cost of supporting operations in Iraq and Afghanistan, which totaled $170 billion in 2010.
Social Security: Another 20 percent of the budget, or $707 billion, paid for Social Security, which provided retirement benefits averaging $1,175 per month to 34.6 million retired workers in December 2010. Social Security also provided benefits to 2.9 million spouses and children of retired workers, 6.4 million surviving children and spouses of deceased workers, and 10.2 million disabled workers and their eligible dependents in December 2010.
Medicare, Medicaid, and CHIP: Three health insurance programs — Medicare, Medicaid, and the Children’s Health Insurance Program (CHIP) — together accounted for 21 percent of the budget in 2010, or $732 billion. Nearly two-thirds of this amount, or $452 billion, went to Medicare, which provides health coverage to around 47 million people who are over the age of 65 or have disabilities. The remainder of this category funds Medicaid and CHIP, which in a typical month in 2010 will provide health care or long-term care to about 60 million low-income children, parents, elderly people, and people with disabilities. Both Medicaid and CHIP require matching payments from the states.
. posted:
Safety net programs: About 14 percent of the federal budget in 2010, or $496 billion, went to support programs that provide aid (other than health insurance or Social Security benefits) to individuals and families facing hardship.
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