Budget cut possibilities
"We have to get off the number game," said Majority Leader Harry Reid, D-Nev., who called the GOP bill "a destructive piece of legislation." Reid suggested cutting farm programs and exploration subsidies for oil companies as ways to bridge the gap."
Don't know if Reid was looking at the farm programs or if he was really talking about ethanol. Neither Dem or Repub plan has a chance.
Re: Budget cut possibilities, demopublicans perhaps
missing the point.
We need to get rid of about 1/3 of the usa govt tiers, entities, personel etc..
( saves approx 500 b per year because it also gets rid of those eliminated department spending missions too)
Also, simply change a couple banking regs to allow local banks to do MOST deals on all equity jv finance basis for their local customers ( banks would make ALOT more dough and everyone in town would build a widget plant ).
Also, simply drop the current tax code and go to a national graduated sales tax.
NO exceptions, no special entities etc., takes about 2% on wages / salaries sold, and EVERYTHING else bought / sold etc.
( jeez that approx 20k of previous income tax saved per working family of consumers IS a future econ boom everyone must fail to see in the usa....WONDER Why??? )
Keep in mind when imports hit that usa dock, that is the point of sales tax on imports too. ( and when wallyworld puts those imports on the shelf...yep another 2% sales tax at the cash register going out the front door too.
Reason for the graduated basis happens to be a 6% sales tax on everything bouight / sold to the Fed, State and local govts.
That way, they perhaps THINK before appropriating all that borrowed dough to buy crap.
( also gives us a prepaid interest leg on govt spending...starts to close borrowed debt gaps QUICK).
Also the 6% sales tax on govt worker wages / slaries...might make them think too...."like about getting out of the socialist realm and creating some REAL econ action...like maybe a widget plant."
USA will tank before ever doing anything like the afore.
Special favors, Deals, exemptions..and the DEAL grease made brokering that borrowed govt cash trickled down are what the high end folks and their cos in the usa run on.
Re: Budget cut possibilities
The February budget deficit came in over 200+ billion. Isn't it ironic that even the most aggressive budget cut plan can't even cut one third of one month's budget deficit? I'd assume if he used farm subsidies in the same sentence with oil subsidies he was talking about ethanol. As near as I can gather, cutting both of these would eliminate roughly 46 billion. While this is a start, it's not even a drop in the bucket. We're so close to not even being able to pay the interest on the debt we've accumulated that it's scary.