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Citigroup Inc. Message Board

  • Chiefs8723 Chiefs8723 Jul 3, 2011 10:18 AM Flag

    3 options to fix the deficit

    I know the republicans don't want to fix the budget because it will take away their talking points but it is a pretty easy fix.
    option 1- sticking it to the rich and ending the Bush tax cuts- generates 3.9 trillion dollars in revenue over the 1st decade.
    option 2-sticking it to seniors and reducing medicare/social security.
    option 3-sticking it both the rich and seniors and use some combination of option 1 and option 2.
    There is no magic bullet, the government needs to make more and/or spend less and republicans need to find other things to talk about.

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    • Under Obama's budget 2011 plan the government will 3.83 trillion, 1.5 trillion is ss/medicare/medicaid, 895 billion for defense, 251 billion is interest on government debt. There is 520 billion in discretionairy spending. The deficit is 1.27 billion If you cut out ALL of the discretionairy spending you still have a deficit of about 700 billion dollars. To recitify that deficit you either have to cut entitlements or raise taxes.

    • You left off, some military budget cuts, but also more importantly proper stimulus for the economy.

      Bonobo has illustrated very well that socialism does nothing to grow an economy. Tax Receipts for 2010 were about 20% lower than the high in 2008. With the economy not growing at all under liberal leadership and waste, it's likely receipts will remain low until proper leadership, stimulus and confidence are returned.

      With cuts in the proper places,..... like farm subsidies, affirmative action programs, the dept of (un)education and other wasteful policies and mandatory and discretionary spending, then freezes and caps,.... growing revenues could mitigate the public external debt in a couple of decades.

      We'd need a balanced budget amendment and a law to off any liberal congressman who ever mentions subsidizing home loans for minorities and the poor to make sure the liberals never do this to us again.

    • who says you get to set out the options here? seniors that have paid into the system deserve every penny they get. the problem is the system was designed as a supplement and not the only thing you have left after your career. additionaly, people are living far longer than when the program was set in motion. lastly, i would love to see an option to quit paying into it and surrender all i have paid into it as well as the promise of a future income from uncle sam. the program needs major reform including pushing the age of retirement further out to account for life expectancy. as for medicare, its riddled with fraud as well as ever rising cost of care. control the fraud with big penalties including big fines and jail. control cost by keeping illegals out of the country and major tort reform. the solutions are somewhat simple but go against an ever expanding government mentality.

    • any sensible person knows it's a little of both..If the voters want Medicare and SS, AS IS, then we just let the Tax cuts expire..We know we can cut a couple of trillion in gov't, but if we cut too much, the middle class suffers..and we can't grow infrastructure.
      Nobody has discussed alternate revenue sources.If we want to spur growth with corp. tax cuts and reduced capital gains, then we need a Federal sales tax, to compensate and even generate more than we lose. A Fair tax [value added] has everyone paying the tax, even illegals and black marketeers. The other is energy independence and Cutting medical expenses. Why does every country get the same meds at half the cost?
      If the politicians want to lead, let's see them cut their salaries, insurances and perks..

    • You forgot the other option...Shrink Gov't and reduce social welfare programs.

      • 2 Replies to jwilgre
      • as usual, the lib sheep want to stick it to someone and not take any responsibility for their own lives. there are two kinds of libs, the elite and the sheep. the elite are very wealthy and powerful and somehow dupe the sheep into believing that govt dependence is the only way of life adn the rich and corporations are at fault for their crappy lives. funny how immigrants from many other countries find it so easy to find success here. the big difference? they don't sit around waiting for the nanny to wipe their bums. they go out and work hard. why does it take immigrants 2-20 years to become affluent while there are generations of losers that haven't done anything but complain about how life isnt fair.

      • social security/medicare/medicaid=social welfare programs that are gonna get shrank.

 
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