-jb-
Footballguy
Starting a new thread from some posts in the jobs thread. Below are some ballpark numbers based on Trump's proposed budget last year (Biden hasn't produced yet, and has a few months to submit). IF YOU WERE NOT ABLE TO RAISE TAXES, how would you make a dent in our deficit, and potentially our debt? Current deficit is roughly $1t, give or take a few shekels.
[*]Mandatory Spending
[*]Discretionary Spending
https://www.thebalance.com/u-s-federal-budget-breakdown-3305789
- Revenue
Income tax - $1.9t
- SS, Medicare, and other payroll taxes - $1.4t
- Excise and tariff - $141b
- Federal reserve earnings - $71b
- Estate tax and other revenues - $35b
[*]Mandatory Spending
SS - $1.2t (100% paid by income taxes and investments, likely to be depleted completely by 2034)
- Medicare/Medicaid - $1.2t (Medicare is already is already underfunded through withholding, Medicaid is 100% funded by the general fund)
[*]Discretionary Spending
Defense $636b
- HHS - $96b
- Education - $66b
- VA - $105b
- Homeland Security - $49.7b
- Energy - $35b
- State Dept - $44b
- Nasa $25b
https://www.thebalance.com/u-s-federal-budget-breakdown-3305789
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