Pocket Guide to the Budget Debate

Here’s what you need to know when engaging with Republicans and ConservaDems on the budget.

Our deficit is about $1.2 trillion a year.

We are spending just over $1.2 trillion a year on our military.  We are basically spending our deficit every year on our military.

Extending the Bush Tax Cuts is costing us $860 billion a year.

Corporations are not paying their fair share in taxes, costing us billions more a year in lost revenue.

Republicans (with support from many Democrats) want to enact “austerity measures” – which basically means “cuts for the poor and middle classes”.  These measures total $61 billion, a dollar amount spread thin over a massive number of programs:

From education to job training, the environment and nutrition, few domestic programs were left untouched – and some were eliminated – in the measure

If we did away with the Bush tax cuts, lessened loopholes corporations exploit, and trimmed programs for the military (like their sponsorship of NASCAR) we could totally eliminate the federal deficit.

As it stands today the likelihood of this happening is nil: the intelligence, foresight, and will to enact an approach like this is missing in Washington.  Instead we will reap the benefits of tax immunity for corporations and the wealthy, and austerity measures for everyone else: decreased spending power in an economy that relies primarily on spending power to function.

Advertisements

2 Responses

  1. Last I checked there were two federal agencies whose books were so disorganized that they could not be audited. They were the department of defense and homeland security.
    http://www.msnbc.msn.com/id/20780840/ns/politics/
    I don’t know if anything has improved over the past few years. Given my personal experience working with procurement for the military I very much doubt it.

    If you’d like more ammunition for this argument feel free to ask me about my experiences as a government credit card holder.

    • You’d think a gigantic burning red flag like being unable to pass an audit would get politicians of every stripe involved to help solve the problem. The amount of pure waste and fraud in that $1.2 trillion annual figure could be staggering.

      Feel free to add more ammo right here! Comment away!

Comments are closed.

%d bloggers like this: