Why does the level of federal debt even concern you?
After all, it is our children and grandchildren who will be paying it. Some silly cons think we should stop unnecessary spending ! Republican Budget Cuts Notice S.S. and the military are NOT on this list. These are all the programs that the new Republican House has proposed cutting. Read to the end. * Corporation for Public Broadcasting Subsidy -- $445 million annual savings. * Save America 's Treasures Program -- $25 million annual savings. * International Fund for Ireland -- $17 million annual savings. * Legal Services Corporation -- $420 million annual savings. * National Endowment for the Arts -- $167.5 million annual savings. * National Endowment for the Humanities -- $167.5 million annual savings. * Hope VI Program -- $250 million annual savings. * Amtrak Subsidies -- $1.565 billion annual savings. * Eliminate duplicating education programs -- H.R. 2274 (in last Congress), authored by Rep. McKeon, eliminates 68 at a savings of $1.3 billion annually. * U.S. Trade Development Agency -- $55 million annual savings. * Woodrow Wilson Center Subsidy -- $20 million annual savings. * Cut in half funding for congressional printing and binding -- $47 million annual savings. * John C. Stennis Center Subsidy -- $430,000 annual savings. * Community Development Fund -- $4.5 billion annual savings. * Heritage Area Grants and Statutory Aid -- $24 million annual savings. * Cut Federal Travel Budget in Half -- $7.5 billion annual savings * Trim Federal Vehicle Budget by 20% -- $600 million annual savings. * Essential Air Service -- $150 million annual savings. * Technology Innovation Program -- $70 million annual savings. * Manufacturing Extension Partnership (MEP) Program -- $125 million annual savings.. * Department of Energy Grants to States for Weatherization -- $530 million annual savings. * Beach Replenishment -- $95 million annual savings. * New Starts Transit -- $2 billion annual savings. • Exchange Programs for Alaska Natives, Native Hawaiians, and Their Historical Trading Partners in Massachusetts -- $9 million annual savings * Intercity and High Speed Rail Grants -- $2.5 billion annual savings. * Title X Family Planning -- $318 million annual savings. * Appalachian Regional Commission -- $76 million annual savings. * Economic Development Administration -- $293 million annual savings. * Programs under the National and Community Services Act -- $1.15 billion annual savings. * Applied Research at Department of Energy -- $1.27 billion annual savings. * Freedom CAR and Fuel Partnership -- $200 million annual savings.. * Energy Star Program -- $52 million annual savings. *Economic Assistance to Egypt -- $250 million annually. * U.S.Agency for International Development -- $1.39 billion annual savings. * General Assistance to District of Columbia -- $210 million annual savings. * Subsidy for Washington Metropolitan Area Transit Authority -- $150 million annual savings. *Presidential Campaign Fund -- $775 million savings over ten years. * No funding for federal office space acquisition -- $864 million annual savings. * End prohibitions on competitive sourcing of government services. * Repeal the Davis-Bacon Act -- More than $1 billion annually. * IRS Direct Deposit: Require the IRS to deposit fees for some services it offers (such as processing payment plans for taxpayers) to the Treasury, instead of allowing it to remain as part of its budget -- $1.8 billion savings over ten years. *Require collection of unpaid taxes by federal employees -- $1 billion total savings.WHAT THE HELL IS THISABOUT? * Prohibit taxpayer funded union activities by federal employees -- $1.2 billion savings over ten years. * Sell excess federal properties the government does not make use of -- $15 billion total savings. *Eliminate death gratuity for Members of Congress.WHAT??? * Eliminate Mohair Subsidies -- $1 million annual savings. *Eliminate taxpayer subsidies to the United Nations Intergovernmental Panel on Climate Change -- $12.5 million annual savings WELL ISN'T THAT SPECIAL * Eliminate Market Access Program -- $200 million annual savings. * USDA Sugar Program -- $14 million annual savings. * Subsidy to Organization for Economic Co-operation and Development (OECD) -- $93 million annual savings. * Eliminate the National Organic Certification Cost-Share Program -- $56.2 million annual savings. *Eliminate fund for Obamacare administrative costs-- $900 million savings. * Ready to Learn TV Program -- $27 million savings.. * HUD Ph.D. Program. * Deficit Reduction Check-Off Act. *TOTAL SAVINGS: $2.5 Trillion over Ten Years My question is, what is all this doing in the budget in the first place?
Asked By: Rocky - 12/14/2012
Best Answer - Chosen by Asker
The Federal debt has far reaching effects. It impacts taxes, jobs, and the dollar, which will be devalued. It also concerns me that our politicians can figure out a budget and if pressed, couldn't tell you where the money went. Raising taxes so more money can be wasted is not how one is fiscally responsible.
Answered By: Obama Won, America Lost - 12/14/2012
Additional Answers (7)
Because I, my kids, and my grandkids have to pay for it.
Answered By: American - 12/14/2012
Simple economics, as the dollar becomes devalued what you earn, or have saved is of less and less value. But than again if you live off the Govt. teat and, don't save anything I guess you don't care..
Answered By: Cptainamer - 12/14/2012
No. The easy solution is to raise the maximum tax rate on billionaires to 92% like we did in 1950 to pay off our national debt then, which was a higher percentage of the GDP than now.
Answered By: Alan Turing - 12/14/2012
And that's just domestic stuff . Factor in the amounts of international welfare and we'd have a surplus in a few months.
Answered By: Ryde.On - 12/14/2012
The main contribution to the deficit is the Bush tax cuts for billionaires. Next, his wars in Iraq and Afghanistan. I say make the people who voted for Bush pay for his mistakes, maybe they will think a bit more about their vote if they have to suffer the consequences of their stupidity.
Answered By: jxt299 - 12/14/2012
Tax cuts for rich people? more than three trillion. and does that do any good for the country? no.
Answered By: BabySpittle.com - 12/14/2012
The idea that the debt needs to be paid off in 1 generation, or 2, or 10 is a false dilemma. The last time the national debt was fully paid off was in the 1830s and the last president to actually leave with a smaller debt than he started with was Calvin Coolidge. We never even paid off the debt from WWII, we just... More
Answered By: Alex - 12/14/2012
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