How about raising tariffs on imported goods? That will do a few things for us:
1. The tariffs will be an increased source of revenue for the govt. More money in your paycheck leaves you more money to pay down your debt.
2. They will force the price of imported goods to rise and therefore be more comparable to domestically made products.
3. They may provide an incentive (if they are high enough) for companies to start moving factories back to the US.
2&3 will both increase employment in America. More employment=more consumers at the store pumping money into the economy and more tax revenue from their paychecks.
I understand that this thread is about cuts, but there are two sides to finances...income and expenditures. Raising income accomplishes the same goal as decreasing expenses. We need to attack our current problem on both fronts.
I believe in the American worker's ability to turn out a superior product given a level playing field. I had a long time involvement in the manufacturing sector, rampant unionism & poor management were just about able to turn that advantage in the wrong direction. It has happened in other sectors .
On a different note, reading an article from a reliable source says "State spending on Medicaid nationwide is higher than the spending on K-12 education. While I consider the K-12 spending more than adequate, does anyone find that level of spending on Medicaid unreasonable?
Everyone's friend is No One's friend
Someday your life will flash before your eyes. It's your responsibility to make sure it's worth watching!
The assumption in this thread is that program cuts are the only way to balance the budget. A serious discussion on balancing the budget has to include raising taxes, if not then your just going fishing without any bait.
As I have stated before the people benefiting from the claim that tax cuts are the panacea to all our financial woes are the Politicians. If tax cuts were so good then why not eliminate them completely? Most of us here can figure that out on our own, but just as it is ridiculous to have the tax rate at zero it is just as deleterious to have them at these historical low rates. There is a balance here and we havent' found it.
Of course I agree completely that the same can be said for the spending side. Things have to be cut, but cutting alone will not solve this issue.
(that budget is to grow by $500 billion itself since 2009)
Don't spend unspent stimulus money.
($500 billion unspent as yet)
It is truly that simple.
I know, let's not go there.
Last edited by Duck Blind; 02-03-2011 at 05:58 AM.