2.5 Trillion in cuts proposed by the GOP


#1

House GOP Lists $2.5 Trillion in Spending Cuts - US News and World Report

This is exactly what I expect from my party.
I hope at least some of this goes through.

Total is 2.5 trillion over 10 years, part of which is defunding Obamacare.


#2

I think history will recognize that much like Reagan was exactly what America needed at the time in the White House to save our National identity and instill anew our faith in our Founding principles, Eric Cantor will be seen as exactly the right man we need in the House at the right time to get our fiscal house in order before we destroy ourselves.

The calls for him to run for President will be loud but we NEED him right where he is for the next 4 to 6 years. I just don’t see any other Representative that can facilitate a working, viable path out of this mess the way he can.

His Country needs him writing budgets for now, I will be thrilled to support him for President someday but we must insist he carry the water awhile in Congress.

A finer mind just does not exist to replace him, maybe Ryan but lets keep them together anyway.


#3

I don’t know why they call these cuts “over ten years”, just cut the programs creating the deficit (social security and medicare) substantially and fix it once and for all.


#4

One problem with cutting Social Security and Medicare is that the individual citizen has paid his own money into them. The cuts need to be made in welfare, DoE, EPA, DHS and the cash cow of all cash cows, the UN. Millions more can be saved by making Federal Prisons, actual prisons, not country clubs.


#5

Yes, except you can cut all of that and the country will still be bankrupt in 2030 so you didn’t solve any budget problems.

By 2050, if the extrapolations are correct, the government could collect 100% of everyone’s income and still not be able to pay social security and medicare. In fact, since medicaid is really just part of medicare, the states would be taking 20% of your income on top of the 100% federal.

Or, alternatively, the minimum age to collect could be given life expectancy increases just like it is given inflation increases every year, that way nobody except a few who live forever can collect, in which case, people are paying a tax for absolutely no benefit. (Considering this is the case with all of the federal and the majority of state tax, that is par for the course.)

Here are the problems being ignored by the politicians:

  1. Raising taxes DOES NOT generate more revenue. No matter what the tax rates have been since the 1950’s, revenue has been the same. Programs like medicare have been added at a DEFICIT in this time.
  2. Programs that add to the deficit include any program that has spending, especially new spending.
  3. There were budget surpluses under Clinton because of the internet boom and no other reason. The republicans cutting a few billion from welfare meant squat and they need to realize that.

Their proposed cuts now are much more substantial, but since they trying to fill a much bigger hole, they are going to have to do something better.

It is an economic reality that social security and medicare (not even mentioning obamacare) need to be massively scaled back.

Social security could easily be replaced by:

  1. No new workers are required to pay anything into the system
  2. People under 25 will be printed treasury bonds that expire in 50 years and yield 1% for whatever they paid in. (this will cost the government nothing because those bonds won’t be worth anything in 50 years, maybe as toilet paper or tissues. ) Most of these people haven’t paid enough to bother with. (Unfortunately, I fall under this group)
  3. People under 40 will be printed treasury bonds that expire when they reach their retirement age and yield better returns that will be adjusted to be deficit neutral based on inflation, in other words, they will just be given their money back.
  4. People between 40 and 50 will receive reduced rates of social security with a higher retirement age.
  5. People over 50 will receive their social security as scheduled.

Social security payroll taxes will have to continue until all of the over 50 people are off social security, so 30-50 years from now, when the entire program will be finished.


#6

As soon as I start singing Cantor’s praise he goes and invites the wicked witch of Hell to sit with him.

Pelosi turns down offer to sit with Cantor at speech | Susan Ferrechio | Beltway Confidential | Washington Examiner

She turned him down.

I don’t know what is more pathetic, that Cantor bought into this “new tone” scam or that even Pelosi (who has the worst image in the nation) is still smart enough to not buy into this idiocy.