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View Full Version : Republican Study Committee Unveils 5 Year Balanced Budget




tsai3904
03-27-2012, 11:37 AM
http://thehill.com/blogs/on-the-money/budget/218437-conservatives-ramp-up-budget-pressure


More details on the budget (can't find which Departments will be eliminated though):

http://rsc.jordan.house.gov/News/DocumentSingle.aspx?DocumentID=287232

Kelly.
03-27-2012, 11:52 AM
lol. this country isnt gonna balance a federal budget until after the system collapses, imo.

Zippyjuan
03-27-2012, 03:10 PM
Of course the devil is in the details. They are proposing to still spend almost $700 billion on defense by 2022.

This one is interesting. Reduce "unnecessary mandatory spending besides Medicare, Medicaid, and Social Security by $1.3 trillion betweeen 2013 and 2022". That would be $130 billion a year on average. That category in the 2010 budget http://en.wikipedia.org/wiki/2010_United_States_federal_budget :

Mandatory spending: $2.173 trillion (+14.9%)

$695 billion (+4.9%) – Social Security
$571 billion (+58.6%) – Unemployment/Welfare/Other mandatory spending
$453 billion (+6.6%) – Medicare
$290 billion (+12.0%) – Medicaid
$164 billion (+18.0%) – Interest on National Debt

Can't cut the interest on the debt so all that is left is unemployment/ welfare category by $130 billion.


Set discressionary spending to $931 billion (with $700 billion of that to the DOD which would leave $231 billion for everything else):

Discretionary spending: $1.378 trillion (+13.8%)

$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%-NA) – 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
$0 billion (−100%-NA) – Troubled Asset Relief Program (TARP)
$0 billion (−100%-NA) – Financial stabilization efforts
$11 billion (+275%-NA) – Potential disaster costs
$19.8 billion (+3.7%) – Other Agencies
$105 billion – Other


Using $699 billion for defense on the 2010 budget would leave $679 billion. To get that down to $231 billion would mean cutting two thirds from their 2010 levels. Note that they won't say how they will get to that point- what would be axed and what would be simply slashed (voters won't like the cuts in their favorite program which is hwy they avoid these details).

They are trying to claim that non- defense spending is only $377 billion and would be reduced to $329 so it does not sound so bad.

I don't have the time right now to dig any deeper. Curious about their assumptions about revenues (taxes) as well.

GeorgiaAvenger
03-27-2012, 03:38 PM
Jim Jordan is a good fiscal conservative. He needs to replace RINO Ryan as budget committee chairman.

Phil
03-27-2012, 03:44 PM
5.1% increase for NASA? Definitely has my support :)

Zippyjuan
03-28-2012, 11:50 AM
So far, I am not finding $1 trillion in total cuts for the annual budget. We need at least that much to have it balance.