(08-13-2018 03:14 PM)Redwingtom Wrote: That's a lot of words to say Obama did NOT create THE trillion dollar deficit.
Well he and the democrat congress certainly gave us the recurring trillion dollar deficit. If you look at it from the congressional perspective, the deficit went down generally as republicans controlled more of congress and went up as they controlled less of congress during both the GWB and Obama administrations.
Quote:And of course, neither D's nor R's are fiscally responsible. That's why we have a 21.3T national debt.
Absolutely, which is why I'm neither R nor D, despite efforts by some to portray me as one or the other.
Quote:Additionally, a annual budget for a governmental entity controlling the entirety of the US is pretty much worthless and would take a miracle to actually hit a "random" budgetary target anyway. Not to say they shouldn't try, but it's a pretty much pointless exercise. We have a hard enough time hitting a budget for our tiny 1,000 attender church!
1,000 is not exactly a tiny church, we have more like 400. Not buying the rest of your argument. You'll never hit it to the penny, or even to the dollar, in neither churches nor governments, but that doesn't make it a pointless argument in either.
Quote:Lastly, if you want to vote for someone who wants to balance a budget, you better vote for one promising tax increases, cause that's the ONLY way it's going to happen.
Absolutely agree on tax revenue increases. But the only way to raise tax revenues to anything remotely approaching current expenditures without making tax rates confiscatory and driving investment to lower-tax jurisdictions is to do what those pother jurisdictions do--a consumption tax. A 15% across the board consumption tax would yield $2.5 trillion (average consumption tax base of 81-82% of GDP times $20 trillion GDP times 15% tax rate). We could get rid of the personal tax (which generates about $1.5 trillion) entirely and still have enough to eliminate the $1 trillion deficit.
But we also need to cut spending. The left wants to pick on defense, but if we eliminated defense entirely, which is patently unreasonable, that wouldn't be enough to eliminate the deficit. Bottom line is that the reason we spend more on defense than the next ten countries or whatever is that, for about 8 of those 10 countries, we are their defense. That needs to change for us to accomplish any meaningful reduction in defense spending, but when Trump presents Europe with that, "OMG, he's destroying NATO." We can do defense more efficiently, but even in a perfect world the absolute max we could probably cut is 20%. And quite frankly, we would have to add about half of that back, because right now we don't have the defense resources to meet current commitments. Wearing out our resources, including overburdening our people, is why two Navy ships got run into by merchantmen in the Pacific. That, and promoting people based on political correctness instead of competence. As I said, the solution there is for allies to take on some of those commitments.
But even picking defense to death, there just isn't enough there. The real problem long-term is entitlements and social security (social security is not an entitlement, its just people getting their money back). Social security is fixable--raise or eliminate the earnings cap, advance the retirement age very gradually, and do like Sweden and incorporate a privatized port to raise ROI. Entitlements need a rethink. I think we need to replace the hodgepodge of focused and means-tested programs with a universal basic income. Do that and Bismarck health care and you pretty much build a decent floor under everybody. That plus a minimum wage job at current minimum wage puts everybody above the poverty line. And that ends up being cheaper because we don't need to spend trillions on bureaucratic gate-keepers.
Europe provides a better welfare safety net than we do, and also a more tax efficient ROI for investment. We could learn from them.