How Will Rand Balance the Budget?

[DeadheadForPaul]

I've never read any books on specific cuts, so I'm not sure what the Cato Institute authors have proposed (Rand recommended a few books available via their bookstore)

I imagine military expenditures will drop now that we're "withdrawing" from Iraq and plan on decreasing our presence in Afghanistan. How much would this account for?

Will Rand touch the sacred cows of Social Security and medicare?

Corporate subsidies?

[TheDriver]

I've never read any books on specific cuts, so I'm not sure what the Cato Institute authors have proposed (Rand recommended a few books available via their bookstore)

I imagine military expenditures will drop now that we're "withdrawing" from Iraq and plan on decreasing our presence in Afghanistan. How much would this account for?

Will Rand touch the sacred cows of Social Security and medicare?

Corporate subsidies?

If you look at the budget, there is no way to balance it without "gutting" entitlements.

I'm talking at least a 30% cut off the bat, and that's in-conjuction with massive (50% roughly) cuts in discretionary spending.

From wiki (http://en.wikipedia.org/wiki/2010_United_States_federal_budget):


The President's budget for 2010 totals $3.55 trillion. Percentages in parentheses indicate percentage change compared to 2009. This budget request is broken down by the following expenditures:
Mandatory spending: $2.184 trillion (+15.6%)
$677.95 billion (+4.9%) – Social Security
$571 billion (−15.2%) – Other mandatory programs
$453 billion (+6.6%) – Medicare
$290 billion (+12.0%) – Medicaid
$164 billion (+18.0%) – Interest on National Debt
$11 billion (+275%) – Potential disaster costs
$0 billion (−100%) – Troubled Asset Relief Program (TARP)
$0 billion (−100%) – Financial stabilization efforts


US receipt and expenditure estimates for fiscal year 2010 (in billions, not trillions).
Discretionary spending: $1.368 trillion (+13.1%)
$663.7 billion (+12.7%) – Department of Defense (including Overseas Contingency Operations)
$78.7 billion (−1.7%) – Department of Health and Human Services
$72.5 billion (+2.8%) – Department of Transportation
$52.5 billion (+10.3%) – Department of Veterans Affairs
$51.7 billion (+40.9%) – Department of State and Other International Programs
$47.5 billion (+18.5%) – Department of Housing and Urban Development
$46.7 billion (+12.8%) – Department of Education
$42.7 billion (+1.2%) – Department of Homeland Security
$26.3 billion (−0.4%) – Department of Energy
$26.0 billion (+8.8%) – Department of Agriculture
$23.9 billion (−6.3%) – Department of Justice
$18.7 billion (+5.1%) – National Aeronautics and Space Administration
$13.8 billion (+48.4%) – Department of Commerce
$13.3 billion (+4.7%) – Department of Labor
$13.3 billion (+4.7%) – Department of the Treasury
$12.0 billion (+6.2%) – Department of the Interior
$10.5 billion (+34.6%) – Environmental Protection Agency
$9.7 billion (+10.2%) – Social Security Administration
$7.0 billion (+1.4%) – National Science Foundation
$5.1 billion (−3.8%) – Corps of Engineers
$5.0 billion (+100%) – National Infrastructure Bank
$1.1 billion (+22.2%) – Corporation for National and Community Service
$0.7 billion (0.0%) – Small Business Administration
$0.6 billion (−14.3%) – General Services Administration
$19.8 billion (+3.7%) – Other Agencies
$105 billion – Other


Somebody prove me wrong... :D

[Elwar]

I'd like to know myself...cutting all spending other than military and entitlements would only put a dent in...

http://www.theronpaulteaparty.com/images/balancedbudget.jpg

[MRoCkEd]

Rand could introduce the budget from 2004: http://www.truthandpolitics.org/2004-outlays-summary.php

[TheDriver]

Rand could introduce the budget from 2004: http://www.truthandpolitics.org/2004-outlays-summary.php

Which would "gut" Medicare. :cool:

"Medicare Part D went into effect on January 1, 2006."

[MRoCkEd]

Which would "gut" Medicare. :cool:

"Medicare Part D went into effect on January 1, 2006."
Yep. Medicare will have to be gutted...

How about we start with a $2,000 deductible? :p

[TheDriver]

Yep. Medicare will have to be gutted...

How about we start with a $2,000 deductible? :p

I don't have Medicare, but I do have a $2,000 deductible. :D


Perhaps this is why someone like Spitzer is so arrogant when interviewing Rand, anyone who glances at the numbers realizes you have to have massive cuts ready to balance the budget. And if you remove entitlements (even with military spending on table) - you're not being serious.

[DeadheadForPaul]

Rand could introduce the budget from 2004: http://www.truthandpolitics.org/2004-outlays-summary.php

You actually hit on a very funny idea: re-introducing a budget from a few years ago would make it hard to argue that he is some radical seeking to destroy the government

[TheDriver]

You actually hit on a very funny idea: re-introducing a budget from a few years ago would make it hard to argue that he is some radical seeking to destroy the government

Try telling that to the citizens on receiving Medicare part D.


I think Rand should immediately push for means testing in SS and Medicare... yesterday!

[TheDriver]

In tears..... :D


YouTube - Rand Paul is Obama's New Wife. (http://www.youtube.com/watch?v=72knimRjL7Q)

[RonPaulCult]

If you look at the budget, there is no way to balance it without "gutting" entitlements.

I'm talking at least a 30% cut off the bat, and that's in-conjuction with massive (50% roughly) cuts in discretionary spending.

From wiki (http://en.wikipedia.org/wiki/2010_United_States_federal_budget):


The President's budget for 2010 totals $3.55 trillion. Percentages in parentheses indicate percentage change compared to 2009. This budget request is broken down by the following expenditures:
Mandatory spending: $2.184 trillion (+15.6%)
$677.95 billion (+4.9%) – Social Security
$571 billion (−15.2%) – Other mandatory programs
$453 billion (+6.6%) – Medicare
$290 billion (+12.0%) – Medicaid
$164 billion (+18.0%) – Interest on National Debt
$11 billion (+275%) – Potential disaster costs
$0 billion (−100%) – Troubled Asset Relief Program (TARP)
$0 billion (−100%) – Financial stabilization efforts


US receipt and expenditure estimates for fiscal year 2010 (in billions, not trillions).
Discretionary spending: $1.368 trillion (+13.1%)
$663.7 billion (+12.7%) – Department of Defense (including Overseas Contingency Operations)
$78.7 billion (−1.7%) – Department of Health and Human Services
$72.5 billion (+2.8%) – Department of Transportation
$52.5 billion (+10.3%) – Department of Veterans Affairs
$51.7 billion (+40.9%) – Department of State and Other International Programs
$47.5 billion (+18.5%) – Department of Housing and Urban Development
$46.7 billion (+12.8%) – Department of Education
$42.7 billion (+1.2%) – Department of Homeland Security
$26.3 billion (−0.4%) – Department of Energy
$26.0 billion (+8.8%) – Department of Agriculture
$23.9 billion (−6.3%) – Department of Justice
$18.7 billion (+5.1%) – National Aeronautics and Space Administration
$13.8 billion (+48.4%) – Department of Commerce
$13.3 billion (+4.7%) – Department of Labor
$13.3 billion (+4.7%) – Department of the Treasury
$12.0 billion (+6.2%) – Department of the Interior
$10.5 billion (+34.6%) – Environmental Protection Agency
$9.7 billion (+10.2%) – Social Security Administration
$7.0 billion (+1.4%) – National Science Foundation
$5.1 billion (−3.8%) – Corps of Engineers
$5.0 billion (+100%) – National Infrastructure Bank
$1.1 billion (+22.2%) – Corporation for National and Community Service
$0.7 billion (0.0%) – Small Business Administration
$0.6 billion (−14.3%) – General Services Administration
$19.8 billion (+3.7%) – Other Agencies
$105 billion – Other


Somebody prove me wrong... :D

Ok but you're not giving me any specifics here. WHAT would you cut????

(That's my Spitzer/most of the mainstream media impression)

[Austrian Econ Disciple]

Ok but you're not giving me any specifics here. WHAT would you cut????

(That's my Spitzer/most of the mainstream media impression)

Do I get to answer? :D

[TheDriver]

Ok but you're not giving me any specifics here. WHAT would you cut????

(That's my Spitzer/most of the mainstream media impression)

Really... What Rand is proposing will be stunning, no matter how he decides to try and slice it.

[ravedown]

love rands verbal bitch slap to spitzer at 11:30

YouTube - Rand Paul "Your Personal Agenda Is Getting In The Way Of You Being A Good Broadcaster" (http://www.youtube.com/watch?v=SSI6Dsw1AS8&feature=player_embedded)

[RonPaulCult]

In tears..... :D


YouTube - Rand Paul is Obama's New Wife. (http://www.youtube.com/watch?v=72knimRjL7Q)

I laughed my ass off, even though usually these people make me feel violent.

Yes - lets' borrow money from China, with interest, to pay to send another man to the moon. Ugh............

[Toureg89]

how is rand going to balance anything? he has 99 other peers who can vote independently of his opinion.

[canadian4ronpaul]

larouche... what the hell was up with that video? its funny to watch them try to use the "antiamerican" thing

[JoshLowry]

In tears..... :D


YouTube - Rand Paul is Obama's New Wife. (http://www.youtube.com/watch?v=72knimRjL7Q)


This should be front paged on The Onion. I haven't laughed this hard in some time.

[Koz]

OK, here is what I would do:


$78.7 billion (−1.7%) – Department of Health and Human Services - Eliminated
$72.5 billion (+2.8%) – Department of Transportation - Eliminated
$52.5 billion (+10.3%) – Department of Veterans Affairs - Eliminated
$51.7 billion (+40.9%) – Department of State and Other International Programs – Cut in Half
$47.5 billion (+18.5%) – Department of Housing and Urban Development - Eliminated
$46.7 billion (+12.8%) – Department of Education - Eliminated
$42.7 billion (+1.2%) – Department of Homeland Security - Eliminated
$26.3 billion (−0.4%) – Department of Energy – Eliminated
$26.0 billion (+8.8%) – Department of Agriculture - Eliminated
$23.9 billion (−6.3%) – Department of Justice – Cut in half
$18.7 billion (+5.1%) – National Aeronautics and Space Administration - Eliminated
$13.8 billion (+48.4%) – Department of Commerce – Cut in half
$13.3 billion (+4.7%) – Department of Labor - Eliminated
$13.3 billion (+4.7%) – Department of the Treasury – Cut in half
$12.0 billion (+6.2%) – Department of the Interior – Cut in half
$10.5 billion (+34.6%) – Environmental Protection Agency - Eliminated
$9.7 billion (+10.2%) – Social Security Administration - Eliminated
$7.0 billion (+1.4%) – National Science Foundation - Eliminated
$5.1 billion (−3.8%) – Corps of Engineers - Eliminated
$5.0 billion (+100%) – National Infrastructure Bank - Eliminated
$1.1 billion (+22.2%) – Corporation for National and Community Service - Eliminated
$0.7 billion (0.0%) – Small Business Administration - Eliminated
$0.6 billion (−14.3%) – General Services Administration - Eliminated
$19.8 billion (+3.7%) – Other Agencies - Eliminated
$105 billion – Other - Eliminated


This gets rid of $646.75 billion and that is a good start.

The next phase is to phase out Social Security over the next 20 years. If you are 60 years old or older you keep your original benefits. If you are between 50 and 60 you get half of what you would have normally gotten. If you are 49 or younger you get nothing. Everyone has to keep paying until the system is solvent based on an annuity formula with the youngest living recipient dying when the last dollar is spent.

Pretty simple in my mind.

Next I'd get rid of the Medicare Drug Program, and eventually phase out Medicare on the same schedule as Social Security.

[oyarde]

I'd like to know myself...cutting all spending other than military and entitlements would only put a dent in...

http://www.theronpaulteaparty.com/images/balancedbudget.jpg

If you do not get to the entitlements you have nothing .

[oyarde]

Which would "gut" Medicare. :cool:

"Medicare Part D went into effect on January 1, 2006."

Gutting medicare would save this country .

[oyarde]

OK, here is what I would do:


$78.7 billion (−1.7%) – Department of Health and Human Services - Eliminated
$72.5 billion (+2.8%) – Department of Transportation - Eliminated
$52.5 billion (+10.3%) – Department of Veterans Affairs - Eliminated
$51.7 billion (+40.9%) – Department of State and Other International Programs – Cut in Half
$47.5 billion (+18.5%) – Department of Housing and Urban Development - Eliminated
$46.7 billion (+12.8%) – Department of Education - Eliminated
$42.7 billion (+1.2%) – Department of Homeland Security - Eliminated
$26.3 billion (−0.4%) – Department of Energy – Eliminated
$26.0 billion (+8.8%) – Department of Agriculture - Eliminated
$23.9 billion (−6.3%) – Department of Justice – Cut in half
$18.7 billion (+5.1%) – National Aeronautics and Space Administration - Eliminated
$13.8 billion (+48.4%) – Department of Commerce – Cut in half
$13.3 billion (+4.7%) – Department of Labor - Eliminated
$13.3 billion (+4.7%) – Department of the Treasury – Cut in half
$12.0 billion (+6.2%) – Department of the Interior – Cut in half
$10.5 billion (+34.6%) – Environmental Protection Agency - Eliminated
$9.7 billion (+10.2%) – Social Security Administration - Eliminated
$7.0 billion (+1.4%) – National Science Foundation - Eliminated
$5.1 billion (−3.8%) – Corps of Engineers - Eliminated
$5.0 billion (+100%) – National Infrastructure Bank - Eliminated
$1.1 billion (+22.2%) – Corporation for National and Community Service - Eliminated
$0.7 billion (0.0%) – Small Business Administration - Eliminated
$0.6 billion (−14.3%) – General Services Administration - Eliminated
$19.8 billion (+3.7%) – Other Agencies - Eliminated
$105 billion – Other - Eliminated


This gets rid of $646.75 billion and that is a good start.

The next phase is to phase out Social Security over the next 20 years. If you are 60 years old or older you keep your original benefits. If you are between 50 and 60 you get half of what you would have normally gotten. If you are 49 or younger you get nothing. Everyone has to keep paying until the system is solvent based on an annuity formula with the youngest living recipient dying when the last dollar is spent.

Pretty simple in my mind.

Next I'd get rid of the Medicare Drug Program, and eventually phase out Medicare on the same schedule as Social Security.

I would start with a date to eliminate medicare / medicaid to be announced now , eliminate right now Dept health human services , dept housing urban development , dept education , Corp for National & community service . Then start looking .