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Deficit panel recalibrates, seeks more support

By Reuters
December 1, 2010

WASHINGTON (Reuters) – A presidential panel on balancing the U.S. budget on Wednesday revised its fiscal austerity plan with deeper spending cuts and a more flexible tax code overhaul, hoping to draw broader political support.

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3 Responses to Deficit panel recalibrates, seeks more support

  1. Carl Nemo

    December 1, 2010 at 6:20 pm

    The easiest and least punishing way to save a buck or two is to cut spending across all sectors by 10% per annum. That way everyone bites the bullet equally.

    So with the 2009 budget pegged at 2,650 billion there would be a 265 billion dollars less spent forward. The pie chart I’m providing shows military past and present consuming 54% of the budget with only 30% for social services. 200 billion is being spent annually on the Iraqi and Afghani MIC shakedown debacle. End our envolvement there and that’s 200 billion to the plus side. We can simply monitor those regions via satellite and good ground HUMINT, using drones and SOC insertions to take out what we perceive to be bad guys, but to clear out as far as having a bunch of ground troops and ‘tankheads’ milling about and being bushwacked on a regular basis.

    Social Security generally pay its own way with tax receipts, but this year they finally had to cash in some 28 billion dollars worth of Treasury IOU’s to make up for a the shortfall. So the amount taken out needs to be increased along with the cutoff level raised higher concerning income vs. said contributions.

    Military pensions are far too bloated with retired Colonels and Navy Captains making anywhere between $6000 to $7500 per month depending on the years of service. Generals and Admirals pay is capped at $12,000 per month so their pensions are even higher. Of course this pension largesse makes its way down the retiree ranks. Most of if not all military reitrees are cutting a fat hog and not hurting in the least much less them getting SS too once achieving eligibility. The scary part is there’s hundreds of thousands in this ‘retiree category’. Those that retired many years ago enjoyed COLA so their once humble pensions are now on a par with those currently retiring in many cases. It’s simply ‘nuts’. The U.S. government has no amount of invested principle to cover these pension outlays, so tax revenues are paying the freight. So a 10% cut per month won’t make or break any military retiree and there also has to be a freeze on active military pay and retiree pensions.

    Congress, the Supreme Court and the Executive Branch needs a 10% pay cut too along with their benefits feathered back…period!

    Not simply pay a freeze, but cuts need to be administered to non-military government retirees too and pay cuts for those that are currently employed, not simply a suspension of ‘raises’. No one gets off the hook so to speak.

    Now the ‘big enchilada’ is waste and fraud in government. I conservativively estimate that at least 250-500 billion per annum is outright stolen by grifters both corporate and individuals. Penalties have to be jacked up to including life in prison for doing so. Medicare fraud alone is up to 80 billion per annum. The gods only know how much Halliburuton, KBR, Bechtel, Lockheed and host of other contractors are stealing us blind from the military piece of the allocation pie in these engineered far off zones of conflict and the 700 bases we maintain around world.

    So conservatively I estimate we could save at least $500+ billion possibly even a trillion “per annum” equating to 2.5-5 trillion over five years if our leadership and all those that enjoy this public ‘pie’ were to accept responsibility to save tax revenues. Do they have the will to do so? No way because the very people responsible for managing such cuts are up to their armpits in having created this criminal enterprise known as the modern U.S. Government to begin with. We’ve met the enemy and “he is both us and them”…!

    Carl Nemo **==

    • Carl Nemo

      December 1, 2010 at 6:34 pm

      I forgot to supply a link to the 2009 Federal expenditures pie chart that support my argument concerning a method to reduce the deficit.

      http://www.warresisters.org/pages/piechart.htm

      Carl Nemo **==

      • logtroll

        December 1, 2010 at 7:51 pm

        Cap’n Nemo,

        Ya’ll outdone yerself on this one. I’m at a loss to find anything humorous to poke at. You go, boy!

        A message for the TPers, do ya think all that pension stuff is Socialism, er what? And is all the warring going on on the other side of the planet a Constitutional requirement?