Okay, now that you have agreed to raise revenue and eliminate loopholes in the prior posts, you can start slashing the budget. While some might claim that welfare cheats having 10 babies, undocumented immigrants using our ED system, et al. are whittling away at our national generosity, in reality, they use a small portion of the budget. We in the middle class benefit much more, often in subtle ways, which we do not even recognize. In addition to cutting federal program or agencies, consider that, if we follow the 10th Amendment to the Constitution, we might just be shifting some budget item, say education, from federal spending to state spending. Hold onto your wallet, you might need it at the bottom of this cliff.
Again, I list various government agencies in general terms. Use the comments section to outline specific plans you would have for budget cuts. For instance, in 1935, when Social Security started, life expectance for someone reaching age 21 (this elimiated downward estimates because of infant and child deaths) was about 78 years. Thus, the goverment estimated paying social security pensions for 13 years after the retirment age of 65. Life expectancy has risen into the mid- to high-80’s now, this adding half a dozen to ten more years of social security payments for many retired citizens. One suggestion for restore the mission of social security and keep it funded is to raise the age at which someone could access social security funds to age 70 or 75 years. Part of the original concept of Social Security was to provide a safety net to prevent elderly peolpe who did not have incomes from loosing homes, food, and basic necesities. It was never intended to pay for the retirement house on the golf course or cruises. Another possible way to reign in Social Security expenses would be to make it means-tested. Essentially, if someone has investment income, work-tied pension funds, Individual Retirement Accounts, 401k’s, etc., they should live from these. When those are exhausted, then they could access Social Security payments. Well, I look forward to some creative government spending suggestions.