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View Full Version : How plausible is a balanced budget?




Elwar
11-03-2010, 09:12 AM
How likely would it be that a balanced budget could be proposed and passed this year?

Outside of the politics of it, is it even possible if they wanted it?

As a defense contractor I know that a lot of money spent each year is part of multi-year contracts. So they might set aside $1 billion for a 5 year contract so they've already committed $200m per year from the budget.

How much of the budget is currently committed and how much is there to work with.

I know that Social Security and Medicare are the major chunks of the budget, with the rest being the only part to work with.

Outside of getting rid of some entitlements and institutions, how low can it go?

furface
11-03-2010, 10:04 AM
How likely would it be that a balanced budget could be proposed and passed this year?

Very likely to be proposed. Very unlikely to pass.

Here's how I would balance the budget.

Social Security: 678 billion
Medicare: $458 billion
Medicaid: $290 billion
Interest: $164 billion.

Total: $1.590 trillion

Revenue: 2.381 trillion

Surplus: $791 billion - to be used to pay down debt or given back to taxpayers.


Notice that I don't include "defense." We are fighting no defensive wars, so we don't need "defense." If you want to set up a border patrol to protect American borders, that would be a police action that I believe States would gladly pay for since border States bear most of the brunt of illegal immigration.

Social security and medicare can also be eliminated and replaced with a voluntary national insurance program.

Elwar
11-03-2010, 10:27 AM
Well, I was thinking about this in terms of choosing out battles. If we were to go out and rally our Congressmen and keep their feet to the fire, there would be a lot of people who would drop out of supporting a move if it entailed getting rid of several departments...

Ending the Department of Education would be a feat unto itself. Or even HUD...

I'm just curious about how big of a bite it would be to push for a balanced budget right now.

Seraphim
11-03-2010, 10:30 AM
Have fun taking on the military industrial complex and welfare dependants.

furface
11-03-2010, 10:33 AM
Well, I was thinking about this in terms of choosing out battles. If we were to go out and rally our Congressmen and keep their feet to the fire, there would be a lot of people who would drop out of supporting a move if it entailed getting rid of several departments...

Ending the Department of Education would be a feat unto itself. Or even HUD...

I'm just curious about how big of a bite it would be to push for a balanced budget right now.

It's one of the most important issues. Modern governments become dictatorships through their ability to print money and hand it out. The best way to kill the beast is to starve it to death.

Part of the issue is that the MSM keeps putting out this idea that "gridlock" in government is a bad thing. There was a Senator on MSNBC last night who was toughing all the "accomplishments" of the Democratically controlled government, and claiming that all we have to look forward to now is gridlock. Gridlock would be wonderful. It would be great if a budget failed to pass and the US federal government shut down. That would be wonderful. We need to support liberty inspired politicians to threaten gridlock if a balanced budget is not proposed.

Elwar
11-03-2010, 10:55 AM
I believe it is plausible to balance it. Without completely wiping out full departments.

I did a basic budget at:
http://balancethebudget.com/

I did an across the board 20% cut for everything with a 30% cut in DoD budget and DoD funds.

I also got rid of Bailouts & Stimulus and cut $40b from foreign aid.

The hardest politically would be the 20% cut in Medicaid, Medicare and Social Security. And the teachers unions would come out swinging at a 20% cut.

I would hope that Republicans given the option of cutting DoD with a balanced budget, or keeping the high cost and going into debt, politically right now, it could be cut.

Private industry has been dealing with how to cut their budgets, government entities should be able to do the same.

Elwar
11-03-2010, 10:58 AM
Also, Florida just finished voting for a "Referendum" calling for the Federal government to pass a balanced budget. It ended up with 72% approval.