Looks like good candidates for cuts, but $2.5 trillion in ten years doesn't solve the problem. They only represent spending cuts and the Obama debt is still there.
Quote:
A List of Republican Budget Cuts
Notice S.S. and the military are NOT on this list.
These are all the programs that the new Republican House has proposed cutting. Read to the end.
* Corporation for Public Broadcasting Subsidy -- $445 million annual savings.
* Save America 's Treasures Program --
$25 million annual savings.
* International Fund for Ireland --
$17 million annual savings.
* Legal Services Corporation --
$420 million annual savings.
* National Endowment for the Arts --
$167.5 million annual savings.
* National Endowment for the Humanities --
$167.5 million annual savings.
* Eliminate duplicating education programs -- H.R. 2274 (in last Congress), authored by Rep. McKeon, eliminates 68 programs.
$1.3 billion annual savings.
* U.S. Trade Development Agency --
$55 million annual savings.
' Woodrow Wilson Center Subsidy --
$20 million annual savings.
* Cut in half funding for congressional printing and binding --
$47 million annual savings.
* John C. Stennis Center Subsidy --
$430,000 annual savings.
* Community Development Fund --
$4.5 billion annual savings.
* Heritage Area Grants and Statutory Aid --
$24 million annual savings.
* Cut Federal Travel Budget in Half --
$7.5 billion annual savings
* Trim Federal Vehicle Budget by 20% --
$600 million annual savings.
* Essential Air Service --
$150 million annual savings.
* Technology Innovation Program --
$70 million annual savings.
* Manufacturing Extension Partnership (MEP) Program--
$125 million annual savings.
*Department of Energy Grants to States for Weatherization --
$530 million annual savings.
* Beach Replenishment --
$95 million annual savings.
* New Starts Transit --
$2 billion annual savings.?
*Exchange Programs for Alaska Natives, Native Hawaiians, and Their Historical Trading Partners in Massachusetts --
$9 million annual savings
* Intercity and High Speed Rail Grants --
$2.5 billion annual savings.
* Title X Family Planning --
$318 million annual savings.
* Appalachian Regional Commission --
$76 million annual savings.
* Economic Development Administration --
$293 million annual savings.
* Programs under the National and Community Services Act --
$1.15 billion annual savings.
* Applied Research at Department of Energy --
$1.27 billion annual savings.
* Freedom CAR and Fuel Partnership --
$200 million annual savings..
*Energy Star Program --
$52 million annual savings.
*Economic Assistance to Egypt --
$250 million annually.
* U.S.Agency for International Development --
$1.39 billion annual savings.
* General Assistance to District of Columbia --
$210 million annual savings.
* Subsidy for Washington Metropolitan Area Transit Authority --
$150 million annual savings.
*Presidential Campaign Fund --
$775 million savings over ten years.
* No funding for federal office space acquisition --
$864 million annual savings.
* End prohibitions on competitive sourcing of government services.
* Repeal the Davis-Bacon Act --
More than $1 billion annually.
* IRS Direct Deposit: Require the IRS to deposit fees for some services it offers (such as processing payment plans for taxpayers) to the Treasury, instead of allowing it to remain as part of its budget --
$1.8 billion savings over ten years.
*Require collection of unpaid taxes by federal employees --
$1 billion total savings.WHAT THE HELL IS THISABOUT?
* Prohibit taxpayer funded union activities by federal employees --
$1.2 billion savings over ten years.
*Sell excess federal properties the government does not make use of --
$15 billion total savings.
*Eliminate death gratuity for Members of Congress.WHAT???
* Eliminate Mohair Subsidies --
$1 million annual savings.
*Eliminate taxpayer subsidies to the United Nations Intergovernmental Panel on Climate Change --
$12.5 million annual savings WELL ISN'T THAT SPECIAL
* Eliminate Market Access Program --
$200 million annual savings.
* USDA Sugar Program --
$14 million annual savings.
* Subsidy to Organization for Economic Co-operation and Development (OECD) --
$93 million annual savings.
* Eliminate the National Organic Certification Cost-Share Program --
$56.2 million annual savings.
*Eliminate fund for Obamacare administrative costs-- $900 million savings.
* Ready to Learn TV Program --
$27 million savings..
* HUD Ph.D. Program.
* Deficit Reduction Check-Off Act.
*TOTAL SAVINGS: $2.5 Trillion over Ten Years
My question is, what is all this doing in the budget in the first place?
Maybe this is why the Democrats are attacking Paul Ryan. .
Those cuts should cover about half of the $5 trillion tax cut that Romney (says he) is going to institute. Of course, he's also going to expand defense spending, etc, so...
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even though I expect these are false and just someone's idea of what to cut..............
not to mention that some will cause revenue drops and the biggest trick being over 10 years so $250 billion a year (if the math adds up, which is suspect withe the way the data is presented in no logical order so it is easy to ignore miscalculations)
also funny how it seems to go after only democratic programs for the most part plus in no way address the huge tax cute that romney will enact (which will either add to the debt or require average people to put more in)
plus cutting back on rprograms that reduce our energy consumption and other beneficial programs is a recipe for disaster
also notice no values for last two programs, I think the rest of this doesn't even come close to their proposed total, please eddie since you repeated this probably junk put all the values in a spreadsheet so you can see what is probably a lie to begin with
. . . and to think we borrowed money from China for all that!
Actually, the majority of that was borrowed from American citizens. China only holds 7.5% of the public debt, while over 62% is held by private individuals domestically. . This debt provides stability to investors. T-Bills are a solid investment in shaky times.
When we sum it all up, about 1/4 of our debt is owed to foreign investors. The rest is held domestically.
Actually, the majority of that was borrowed from American citizens. China only holds 7.5% of the public debt, while over 62% is held by private individuals domestically. . This debt provides stability to investors. T-Bills are a solid investment in shaky times.
When we sum it all up, about 1/4 of our debt is owed to foreign investors. The rest is held domestically.
True enough but taxpayers pay to service the debt, $16,700,192,285.07 for September.
Yes. Taxpayers pay taxpayers to service the debt. They pay at a rate that's basically equal to inflation. And in doing so, they stabilize the value of the dollar, preventing both deflation and hyperinflation.
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We work together every damn day. --Jon Stewart
Yes. Taxpayers pay taxpayers to service the debt. They pay at a rate that's basically equal to inflation. And in doing so, they stabilize the value of the dollar, preventing both deflation and hyperinflation.
The CBO has said, "The combination of rising debt and rising interest rates is projected to cause net interest payments to balloon to nearly $800 billion, or 3.4 percent of GDP, by 2020." And that was when the CBO was projecting the debt to reach $16 trillion by 2020 (Obama has already surpassed that estimate).
For FY2012, as of the end of September 2012, the Treasury Department has spent over $359 billion on interest payments to service the National Debt.
Compare that to NASA at $21 billion, Department of Education at $60 billion, and Department of Transportation at $70 billion!
The CBO has said, "The combination of rising debt and rising interest rates is projected to cause net interest payments to balloon to nearly $800 billion, or 3.4 percent of GDP, by 2020." And that was when the CBO was projecting the debt to reach $16 trillion by 2020 (Obama has already surpassed that estimate).
For FY2012, as of the end of September 2012, the Treasury Department has spent over $359 billion on interest payments to service the National Debt.
Compare that to NASA at $21 billion, Department of Education at $60 billion, and Department of Transportation at $70 billion!
Go look at the actual interest rate the government pays. You can figure that out by looking at the rate of return on T-bills, T-notes, T-bonds, etc. I'll wait.
The basic premise of your argument is apparently an old CBO projection of rising interest rates. The government sets the rate of return on its debts, and the American people and governmental organizations are clamoring to buy up that debt that the interest rates on this debt is as low as it's ever been.
Inflation rates have been extraordinarily low over the past few years, but the interest rates the government is paying on its debt has been *below* that rate.
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