May budget deficit hits record $207.8 billion

Budget Cuts
The budget cuts, on the other hand, are more significant, affecting areas such as education and environmental protection and totaling $2.7 trillion.

The 2020 budget proposes a 5% cut at non-defense federal agencies, including a total of $1.9 trillion in cuts to safety net programs like Medicaid. Trump also proposed new work requirements for Medicaid recipients and turning more power over to states. On Medicare, Trump called for an $845 billion budget cut.

Other agencies that would see budget cuts include the Environmental Protection Agency, the State Department, the Transportation Department, and the Department of the Interior, affecting matters such as foreign aid, federal employee retirement programs, and clean energy.
http://fortune.com/2019/03/11/trump-2020-budget-proposal/

Think the House Democrats will support them?

 

Entitlements are growing due to healthcare costs which need serious reforms across the board, our general medical spending is increasing at three to six times the rate of the economy as a whole which is unsustainable.

What programs do you believe we should start cutting and how? Specifically

 

Why is the military spared any cuts?

 

So basically healthcare costs, the military and the debt servicing. Instead of reforming healthcare to bring them in line with the rest of the world we should cut what? Social security so we can return to where the elderly are losing their homes and starving to death — after they paid their entire lives into an insurance program...

Interesting strategy

 

10% across the board would be a good start.

 

So programs that are already underfunded should be cut to the same extent of programs that are massively over funded? That seems like taking a hammer into heart surgery over a scalpel.

So you think we should cut social security, on average, $1,700 a year?

 

Quote: “Could be lots of things”

Indeed!

For example;

In the 80’s, near 20 percent of businesses were pass through entities, and today, near 60 percent, if not more, thus, 150K business income, minus 20 percent deduction, equates to 130K, tax at marginal rates.

My question to you; If all businesses were pass through entities, how much Corporate income taxes Uncle Sam would collect?

a. More than today
b. Less than today
c. Near zero

 

better to cut the corporate welfare military industrial complex and to end all foreign tax shelters

 

Why are you asking me, if you want to know look it up. What's your point about the tax revenue growth NOW? How about responding to what I posted?

Well what is different in that third year compared to 1998 and 2005?
How much did the one year depreciation acceleration hit revenues?
Where are we going to get growth in GDP if we can't expand the workforce because everyone is working?

Which party is more likely to keep revenues growing at all and spending more in check?

What do you think? And why haven't you addressed the spending side which is increasing faster than revenues?

 

For your info, a 10 percent cut across the board would lower the GDP Growth Rate by approx. 3/4 of a percent.

 

Maybe in the short run. Economies grow faster when the government's role is reduced. That’s how we won the Cold War; our government was less intrusive into our economy than the Soviet government was in theirs.

 

Yes, cut everything. We don’t have the money. We’re borrowing it from China and we’re expecting the Americans of 2100 to pay it back. That’s just wrong.

 

So the areas that are already underfunded, do these agencies just close?

 

Cut back, don’t close.

 

And I sail "all" where?

 

"Apparently you haven't grasped the amount of government spending involved in illegal immigration. Spending is at the root of all government evil."

 

How does something that is barely operating cut back?

For example the FDA, they currently do not have enough inspectors to carry out their mission statement. Cutting back even further would increase this and in other agencies (the DOD for example) have so much discretionary budget that they frequently “lose” large portions of it.

How about a compromise of agencies that cannot account for funds also lose that funding plus a 10% cut. Agree?

 

That's the MO of the GOP, though: Underfund government agencies so they are unable to perform their duties, then complain that they cannot do their work (sprinkle in some rhetoric about wasteful and incompetent government), then use the complaint of poorly-working government agencies to cut them even further. Rinse and repeat.

 

I would agree with this, if we the people give it to them they damn sure better know where it went.

 

Boy....it is a good thing that we have those Republican budget hawks keeping tabs on the deficit....cause they are really......wait.....where are they?

Well...I predict they will magically reappear right after the next Dem is elected president. Then there will be outrage and loud speeches on the Congression floor demonizing deficit spending.....but.....

Until then trump and his thugs can spend our tax money like bandits....cause that is what they are....criminals.

 

Washington is up to their ears in cash. It’s the wealthiest city in the U.S., thanks to our overtaxed population. We have enough bureaucrats to defend the city against a foreign invasion.

So much waste, corruption, and incompetence.

 

Wait, the US is also the richest country in the world, is number 19 in GDP per capita, has 28% of the world's billionaires while having only 4.4 % of the world's population. How is that possible when those poor billionaires are so overtaxed?

Oh, I know, the enemy of the good is the better. In their fervor to get even more rich, the poor billionaires are lobbying for more tax cuts, which eventually will be their undoing.

 

Even the fake news couldn't miss the fact that a calendar quirk accounted for most of it. How disingenuous are liberals going to get? How sad...

 

No....trump's corporate give away accounted for most of it.....THE TAX CUTS DUD NOT PAY FOR THEMSELVES....REPUBS LIE LIKE THEY BREATH...

 

Hardly, it clearly stated that $55 billion were due to a calendar fluke, apparently honesty is not your friend...